SLB (NYSE: SLB) announced its third-quarter 2025 financial results, reporting revenue of $8.93 billion, a 4% increase sequentially and a 3% decrease year on year. The company’s income before taxes on a GAAP basis was $1.00 billion, down 22% from the prior quarter and 34% from the same period in 2024. Net income attributable to SLB declined to $739 million, or $0.50 per diluted share, compared to $1.014 billion and $0.74 per share in the second quarter of 2025. Adjusted EBITDA was $2.061 billion, down slightly from $2.051 billion in the prior quarter but down 12% year on year. Adjusted EBITDA margin decreased to 23.1% from 24.0% and 25.6% in the prior and same period last year, respectively. Pretax segment operating income was $1.626 billion, a 3% increase sequentially but down 14% year on year. The results reflect two months of activity from the acquisition of ChampionX, which contributed $579 million in revenue, $139 million in adjusted EBITDA, and $108 million in pretax segment operating income. Excluding ChampionX, global revenue declined 2% sequentially and 9% year on year, with international revenue down 1% sequentially and 9% year on year, and North America revenue down 7% sequentially and 9% year on year. SLB’s Digital division reported revenue of $658 million, up 11% sequentially and 3% year on year, driven by growth in Digital Operations and Platforms & Applications. The division’s pretax operating margin expanded to 28.4%, up 250 basis points sequentially. Annual recurring revenue (ARR) for the Digital Division reached $926 million as of September 30, 2025, up from $869 million a year earlier. Production Systems revenue rose 18% sequentially and 14% year on year, including $575 million from ChampionX. However, pretax operating margin declined to 16.1% due to geographic mix and lower subsea margins. Well Construction revenue was flat sequentially but down 10% year on year, with margin compression due to reduced activity in key markets. Reservoir Performance revenue declined 1% sequentially and 8% year on year, with margin contraction driven by lower profitability in evaluation and intervention. SLB’s CEO, Olivier Le Peuch, emphasized resilience amid a challenging market environment, citing strong performance in Digital and the strategic value of ChampionX in expanding SLB’s presence in the production and recovery market. He highlighted that international markets, particularly in the Middle East and Asia, are expected to lead future activity rebounds, supported by sustained investment in oil and gas infrastructure. In other developments, SLB repurchased 3.2 million shares for $114 million in the quarter and completed the acquisition of ChampionX in July 2025. The company also approved a quarterly cash dividend of $0.285 per share, payable on January 8, 2026, to shareholders of record on December 3, 2025. SLB continues to invest in digital transformation and innovation, including the acquisition of RESMAN Energy Technology and the deployment of autonomous drilling and AI-powered solutions. The company remains focused on integrating new capabilities, enhancing operational efficiency, and supporting customers in their digital and energy transition goals.