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Can SLB Stock Extend Its Winning Streak With Strong Q3 Earnings?
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Key Takeaways
SLB is set to report Q3 earnings on Oct. 23, following four consecutive earnings beats averaging 4.94%.
Q3 earnings are projected to fall 10.1% to 62 cents per share, while revenues are expected to rise 4.04%.
Higher oil prices may boost demand for SLB's services, but its Earnings ESP of -1.45% signals caution.
SLB (SLB - Free Report) is set to report third-quarter 2026 results on Oct. 23, before the opening bell.
In the last reported quarter, its earnings of 55 cents per share beat the Zacks Consensus Estimate of 51 cents, driven by growth in Digital and Production Systems, along with broad-based gains outside the Middle East. The oilfield service player’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 4.94%. This is depicted in the graph below:
The Zacks Consensus Estimate for third-quarter earnings per share of 62 cents hasn’t seen any revisions over the past seven days. The estimated figure indicates a 10.1% decline from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $9.3 billion implies a 4.04% increase from the year-ago recorded figure.
Factors to Consider Ahead of SLB Q3 Earnings
To have an idea of how oil prices behaved in the September quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for July, August and September of this year were $80.46, $83.90 and $97.31 per barrel, respectively, per EIA data. Commodity prices were $68.39, $64.86 and $63.96 per barrel, respectively, in prior-year, respective quarters, according to the EIA.
A constructive oil-price backdrop, driven by the Middle East conflicts, aided the exploration and production businesses in the September quarter of this year. This, in turn, is expected to have backed demand for SLB’s oilfield services.
Earnings Whispers
Our proven model doesn’t indicate an earnings beat for SLB this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here, as you will see below.
Earnings ESP: SLB currently has an Earnings ESP of -1.45%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: SLB currently carries a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Baker Hughes is scheduled to release third-quarter 2026 earnings on Oct. 27. The Zacks Consensus Estimate for BKR’s earnings is pegged at 65 cents per share, indicating a 4.4% decline from the prior-year reported figure.
EOG Resources (EOG - Free Report) has an Earnings ESP of +0.59% and flaunts a Zacks Rank #1 at present. EOG is scheduled to release third-quarter 2026 earnings on Nov. 5.
The Zacks Consensus Estimate for EOG’s earnings is pegged at $4.39 per share, suggesting a 62% improvement from the prior-year reported figure.
BP plc (BP - Free Report) has an Earnings ESP of +7.29% and a Zacks Rank #1. BP is scheduled to release third-quarter 2026 earnings on Oct. 30.
The Zacks Consensus Estimate for BP’s earnings is pegged at $2.09 per share, suggesting a 146% increase from the prior-year reported figure.
View the Zacks #1 Rank List
Image: Bigstock
Can SLB Stock Extend Its Winning Streak With Strong Q3 Earnings?
Key Takeaways
SLB (SLB - Free Report) is set to report third-quarter 2026 results on Oct. 23, before the opening bell.
In the last reported quarter, its earnings of 55 cents per share beat the Zacks Consensus Estimate of 51 cents, driven by growth in Digital and Production Systems, along with broad-based gains outside the Middle East. The oilfield service player’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 4.94%. This is depicted in the graph below:
SLB Limited Price and EPS Surprise
SLB Limited price-eps-surprise | SLB Limited Quote
Estimate Trend for SLB
The Zacks Consensus Estimate for third-quarter earnings per share of 62 cents hasn’t seen any revisions over the past seven days. The estimated figure indicates a 10.1% decline from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $9.3 billion implies a 4.04% increase from the year-ago recorded figure.
Factors to Consider Ahead of SLB Q3 Earnings
To have an idea of how oil prices behaved in the September quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for July, August and September of this year were $80.46, $83.90 and $97.31 per barrel, respectively, per EIA data. Commodity prices were $68.39, $64.86 and $63.96 per barrel, respectively, in prior-year, respective quarters, according to the EIA.
A constructive oil-price backdrop, driven by the Middle East conflicts, aided the exploration and production businesses in the September quarter of this year. This, in turn, is expected to have backed demand for SLB’s oilfield services.
Earnings Whispers
Our proven model doesn’t indicate an earnings beat for SLB this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here, as you will see below.
Earnings ESP: SLB currently has an Earnings ESP of -1.45%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: SLB currently carries a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Baker Hughes Company (BKR - Free Report) has an Earnings ESP of +1.15% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Baker Hughes is scheduled to release third-quarter 2026 earnings on Oct. 27. The Zacks Consensus Estimate for BKR’s earnings is pegged at 65 cents per share, indicating a 4.4% decline from the prior-year reported figure.
EOG Resources (EOG - Free Report) has an Earnings ESP of +0.59% and flaunts a Zacks Rank #1 at present. EOG is scheduled to release third-quarter 2026 earnings on Nov. 5.
The Zacks Consensus Estimate for EOG’s earnings is pegged at $4.39 per share, suggesting a 62% improvement from the prior-year reported figure.
BP plc (BP - Free Report) has an Earnings ESP of +7.29% and a Zacks Rank #1. BP is scheduled to release third-quarter 2026 earnings on Oct. 30.
The Zacks Consensus Estimate for BP’s earnings is pegged at $2.09 per share, suggesting a 146% increase from the prior-year reported figure.