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SLB beat Q2 earnings and revenue estimates, boosting confidence in oilfield services.
IEZ and OIH offer the highest exposure to SLB among major energy ETFs.
Strong oil prices and global drilling spending continue to support SLB's outlook.
Schlumberger (SLB - Free Report) released its second-quarter 2026 earnings results, delivering strong earnings. Its performance has surpassed the analysts' estimates, which brought SLB back into the spotlight. SLB shares grew 11% post releasing its results on July 24, 2026. Thus, ETFs having high exposure to this company drew the attention of investors.
Overview of Schlumberger’s Earnings
This oilfield service behemoth reported adjusted earnings per share (EPS) of 55 cents, which beat the Zacks Consensus Estimate by 7.84%. But EPS declined 26% year on year.
The oilfield services giant recorded quarterly revenues of $8.97 billion, which topped the Zacks Consensus Estimate of $8.71 billion by around 3%. The top line increased 5% year over year from $8.55 billion. The better-than-expected quarterly results were primarily driven by growth in Digital and Production Systems, along with broad-based gains outside the Middle East.
Amid the backdrop of U.S.-Israel tensions, the oil price is remaining mostly on the higher side, keeping SLB in an advantageous position, though this quarter marked a return to year-on-year revenue growth outside the Middle East.
Yet, from a year-on-year perspective, the company saw a 22% decline in net income attributable to SLB (on a GAAP basis). The Zacks Consensus Estimate for SLB’s third-quarter EPS stands at 65 cents, suggesting a 5.80% dip in year-over-year growth. For the fiscal year, the consensus EPS estimate stands at $2.52, indicating a 13.91% year-over-year decline.
Meanwhile, the Zacks Consensus Estimate for SLB’s third-quarter sales stands at $9.12 billion, implying 2.12% year-over-year growth. For this fiscal year, the consensus estimate for sales stands at $36.49 billion, indicating 2.19% growth.
ETFs in Focus
The outperformance of SLB has a huge impact on the below-mentioned ETFs, as some of these ETFs have a double-digit weight on the stock. Let us delve a little deeper.
iShares U.S. Oil Equipment & Services ETF (IEZ - Free Report) tracks the Dow Jones U.S. Select Oil Equipment & Services Index, investing in the companies that supply equipment, technology and services to the oil and gas industry.
The ETF IEZ puts 22.83% of its weight in SLB. The fund charges 38 bps in fees. It has assets under management worth $360.7 million. The fund trades at an average volume of 560,00 shares a day.
VanEck Oil Services ETF (OIH - Free Report) tracks the MVIS US Listed Oil Services 25 Index, which includes leading oilfield service and equipment companies listed in the United States.
OHI puts 20.35% of its weight in SLB. The fund charges 35 bps in fees. It has assets under management worth $2.06 billion, and the fund trades at an average volume of 360,00 shares a day.
State Street Energy Select Sector SPDR ETF (XLE - Free Report) tracks the Energy Select Sector Index that includes energy companies from the S&P 500 with exposure to large-cap U.S. energy companies.
The ETF XLE puts 4.57% of its weight in SLB. The fund charges 8 bps in fees. It has assets under management worth about $40 billion. The fund trades at an average volume of 35 million shares a day.
View the Zacks #1 Rank List
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Here's How SLB's Q2 Earnings Impact Energy ETFs
Key Takeaways
Schlumberger (SLB - Free Report) released its second-quarter 2026 earnings results, delivering strong earnings. Its performance has surpassed the analysts' estimates, which brought SLB back into the spotlight. SLB shares grew 11% post releasing its results on July 24, 2026. Thus, ETFs having high exposure to this company drew the attention of investors.
Overview of Schlumberger’s Earnings
This oilfield service behemoth reported adjusted earnings per share (EPS) of 55 cents, which beat the Zacks Consensus Estimate by 7.84%. But EPS declined 26% year on year.
The oilfield services giant recorded quarterly revenues of $8.97 billion, which topped the Zacks Consensus Estimate of $8.71 billion by around 3%. The top line increased 5% year over year from $8.55 billion. The better-than-expected quarterly results were primarily driven by growth in Digital and Production Systems, along with broad-based gains outside the Middle East.
Amid the backdrop of U.S.-Israel tensions, the oil price is remaining mostly on the higher side, keeping SLB in an advantageous position, though this quarter marked a return to year-on-year revenue growth outside the Middle East.
Yet, from a year-on-year perspective, the company saw a 22% decline in net income attributable to SLB (on a GAAP basis). The Zacks Consensus Estimate for SLB’s third-quarter EPS stands at 65 cents, suggesting a 5.80% dip in year-over-year growth. For the fiscal year, the consensus EPS estimate stands at $2.52, indicating a 13.91% year-over-year decline.
Meanwhile, the Zacks Consensus Estimate for SLB’s third-quarter sales stands at $9.12 billion, implying 2.12% year-over-year growth. For this fiscal year, the consensus estimate for sales stands at $36.49 billion, indicating 2.19% growth.
ETFs in Focus
The outperformance of SLB has a huge impact on the below-mentioned ETFs, as some of these ETFs have a double-digit weight on the stock. Let us delve a little deeper.
iShares U.S. Oil Equipment & Services ETF (IEZ - Free Report) tracks the Dow Jones U.S. Select Oil Equipment & Services Index, investing in the companies that supply equipment, technology and services to the oil and gas industry.
The ETF IEZ puts 22.83% of its weight in SLB. The fund charges 38 bps in fees. It has assets under management worth $360.7 million. The fund trades at an average volume of 560,00 shares a day.
VanEck Oil Services ETF (OIH - Free Report) tracks the MVIS US Listed Oil Services 25 Index, which includes leading oilfield service and equipment companies listed in the United States.
OHI puts 20.35% of its weight in SLB. The fund charges 35 bps in fees. It has assets under management worth $2.06 billion, and the fund trades at an average volume of 360,00 shares a day.
State Street Energy Select Sector SPDR ETF (XLE - Free Report) tracks the Energy Select Sector Index that includes energy companies from the S&P 500 with exposure to large-cap U.S. energy companies.
The ETF XLE puts 4.57% of its weight in SLB. The fund charges 8 bps in fees. It has assets under management worth about $40 billion. The fund trades at an average volume of 35 million shares a day.