SLB wins Rovuma subsea contract and SLB stock trades below EUR 43.33

Published on 10/02/2026 at 14:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue hit USD 8.97 billion in the second quarter of 2026 versus USD 8.67 billion consensus. SLB stock costs EUR 43.19 on October 2, 2026 after EUR 43.33.

SLB, AN8068571086, Illustration mit AI erstellt.

SLB stock was trading at EUR 43.19 at Lang & Schwarz on October 2, 2026 at 2:36 p.m. CEST, below the EUR 43.33 prior close. On September 29, 2026, SLB announced that its OneSubsea joint venture had been awarded a contract by ExxonMobil Moçambique for subsea production systems for the first phase of the offshore Rovuma LNG project in Mozambique.

Rovuma expands the subsea pipeline

The contract covers subsea trees, manifolds, umbilicals and control systems, alongside engineering, procurement, manufacturing and installation services. SLB OneSubsea also intends to establish a services base in Mozambique, linking the project to regional training, employment and supply-chain activity.

The announcement adds a concrete offshore project to SLB's recent contract flow. Its commercial importance is tied to the scope of an integrated subsea delivery rather than to a disclosed contract value, giving investors an operational signal while leaving the direct earnings contribution open.

Revenue beats the second-quarter consensus

For the second quarter of 2026, SLB reported USD 8.97 billion in revenue against USD 8.67 billion expected, according to MarketBeat. Adjusted earnings per share were USD 0.55 versus USD 0.51 consensus, a USD 0.04 difference, while revenue increased 5.00 percent from the year-ago quarter.

The latest operating picture therefore combines project wins with a measurable earnings comparison. The next quarterly report is expected on October 16, 2026, according to the company's September 28 announcement shown on its newsroom homepage and the scheduled-results coverage.

Analyst target remains above the stock

Markets Insider reported on September 29, 2026 that BMO Capital maintained its Buy rating and set a USD 62.00 price target. The same report cited second-quarter revenue of USD 8.97 billion and net profit of USD 786 million for the quarter ended June 30, 2026.

Primary-market context places SLB on the NYSE in USD. The 52-week range was USD 31.64 to USD 60.46, and market capitalization was USD 72.2 billion as of October 1, 2026; the euro quote is a separate Lang & Schwarz reference for German-market investors.

SLB stock trades below the prior close

At Lang & Schwarz, SLB was trading at EUR 43.19 on October 2, 2026 at 2:36 p.m. CEST, down 0.32 percent versus the EUR 43.33 prior close dated October 1, 2026. The further course of trading is shown by the continuously updated real-time quote of SLB stock.