Why SLB Stock Surged This Past Week

Why SLB Stock Surged This Past Week

Joe Tenebruso, The Motley Fool

Mon, July 27, 2026 at 2:28 AM GMT+3 2 min read

• SLB +11.01%
• NVDA -0.92%

Shares of SLB (NYSE: SLB) climbed last week after the oilfield services leader reported higher-than-expected sales and profits.

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Energy security and AI-fueled gains

SLB's revenue rose 5% year over year to $8.97 billion in the second quarter.

CEO Olivier Le Peuch said the ongoing conflict in the Middle East is driving its customers to prioritize "energy security, supply diversification, and production capacity expansion." Companies are also investing in technology to extend the useful lives of their energy assets.

At the same time, SLB is expanding into lucrative new markets. First among these is the artificial intelligence (AI) industry, for which SLB offers modular infrastructure manufacturing, engineering, and design services.

SLB's data center revenue soared 80%, placing it on pace to surpass a $1 billion annualized run rate by the end of 2026 and $2 billion by the end of next year.

All told, SLB's adjusted earnings checked in at $0.55. That topped Wall Street's estimates, which had called for per-share profits of $0.52, according to Yahoo! Finance.

Demand for SLB's offerings is set to rise

War in the Middle East is forcing governments and companies to rethink their energy strategies. Dependable energy supplies are becoming even more valuable, and the businesses that can help to ensure them are likely to see rising demand for their services in the coming years.

SLB, as a respected leader in the oil and gas services industry, is well-positioned to help meet the world's need for reliable and cost-effective energy.

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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Why SLB Stock Surged This Past Week was originally published by The Motley Fool