Despite SLB’s heavily disrupted Q1, why is the market betting on a multi-year boom?
At first glance, SLB’s (SLB) chart presents a striking contrast
Over the last year, the stock notched a 40% gain, comfortably outpacing the S&P 500’s 24% return. To an outside observer, it would seem the oilfield services giant is firing on all cylinders. Yet, digging into the company’s Q1 financial report reveals a far more complicated operational reality.
A Quarter To Forget Let’s be blunt: the first quarter of 2026 was a mess. Geopolitical turmoil in the Middle East hammered operations. Excluding a recent acquisition, revenue fell 7% year on year.