SLB Shot Up Following Q1 Report. Here is Why

With gains of 10.39% between April 1 and April 27, SLB N.V. (NYSE:SLB) is included in our list of the 7 Energy & Utility Stocks that are on Fire in April.

SLB N.V. (NYSE:SLB) engages in the provision of technology for the energy industry worldwide.

SLB N.V. (NYSE:SLB) shot up after reporting its Q1 2026 results on April 24. The company reported adjusted earnings of $0.52 per share for the quarter, and while this was down by $0.20 compared to the same period last year, it still fell in line with market expectations. However, revenue for the quarter grew by just under 3% YoY to $8.72 billion and beat estimates by $60 million.

It has been a challenging quarter for SLB N.V. (NYSE:SLB), with the company witnessing a 10% YoY drop in the Middle East and Asia. The company’s operations in the region were hurt by Qatar declaring force majeure on its LNG exports, as well as production ​constraints and security concerns in Iraq and offshore operations across the region.

That said, SLB N.V. (NYSE:SLB)’s nascent data center solutions unit was a major silver lining during the quarter, jumping by 45% YoY and 10% sequentially, and helping offset declines across several other business units stemming from the Middle East conflict.

SLB N.V. (NYSE:SLB) also revealed that it has agreed to acquire the upstream geoscience and petroleum engineering software portfolio of S&P Global’s energy division, helping make the company more competitive in the US shale market.

SLB N.V. (NYSE:SLB) received significant positive attention following the better-than-expected Q1 report, with analysts from Morgan Stanley, JPMorgan, Barclays, and several others raising their respective price targets on the stock.

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