SLB Q1 2026 Earnings Results: Did Schlumberger Beat the Lowered Bar as Brent Hits $103?

# SLB Q1 2026 Earnings Results: Did Schlumberger Beat the Lowered Bar as Brent Hits $103?

> **Quick answer:** SLB reported Q1 2026 results on April 24, 2026 against a consensus EPS of $0.51 and revenue estimate of $8.63-$8.65B — a bar already slashed by the Iran/Hormuz disruption that SLB warned on March 11 would cut EPS by $0.06-$0.09 per share. The company's conference call begins at 11:00am ET today with guidance commentary being the most watched datapoint. Peer Halliburton beat its own lowered consensus with $0.55 EPS — setting the stage for whether SLB can clear a similar low bar.

SLB Q1 2026 earnings results dropped before the opening bell on April 24, 2026 — and the market is watching one question above all others: did the world's largest oilfield services company beat a consensus that already had the Iran/Hormuz disruption baked in? The answer determines whether SLB's recovery thesis is intact — or whether $103 Brent oil is masking deeper operational damage.

## What the Street Expected — and Why the Bar Was Already Lowered

Wall Street came into today with SLB consensus EPS of $0.51-$0.52 and revenue of $8.63-$8.65B. That sounds low for a company that posted $0.78 EPS and $9.74B revenue in Q4 2025 — and it is. The sharp sequential decline reflects three overlapping headwinds that were known in advance:

**1. The March 11 pre-warning.** SLB took the unusual step on March 11 of publicly warning investors that Middle East operational disruptions would cut Q1 EPS by $0.06-$0.09 per share. That kind of specificity is rare — it told analysts exactly how much to cut their models. The Zacks consensus fell 14.62% over two months as models were adjusted.