HOUSTON (dpa-AFX) - SLB NV (SLB), an oilfield services provider, on Friday reported a drop in net income for the third-quarter of fiscal 2026, reflecting increased expenses. However, the company posted a rise in revenue, helped by business growth in the domestic and international markets and a recovery in the SLB's Middle East business activity.
For the three-month period to September 30, the company posted a net income of $735 million, or $0.49 per share, compared with $739 million, or $0.50 per share in the same period last year. Excluding items, profit was $962 million, or $0.64 per share, less than $1.027 billion, or $0.69 per share in the prior year.
Excluding items, EBITDA stood at $2.067 billion as against $2.061 billion a year ago. Cost of revenue was $7.883 billion, higher than $7.370 billion a year ago. Restructuring and other expenses moved up to $187 million from $109 million last year.
Revenue was $9.449 billion, up from $8.928 billion in the prior year, driven by 5% growth internationally and 7% growth in North America. International revenue growth was broad-based, led by a 13% increase in the Middle East as activity continued to recover. The company's Production Systems division posted revenue of $4 billion, up from $3.474 billion a year ago.
The board will pay a quarterly cash dividend of $0.295 per share on January 7, 2027, to the stockholders of record on December 2, 2026.
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