Following its Q4 2025 earnings report, SLB outlined an aggressive capital allocation strategy for 2026: : Over $4 billion in combined returns.
: CEO Olivier Le Peuch has stated that the buybacks signal management's belief that SLB stock is undervalued relative to its future cash-generation potential. SLB Ramps Up Share Buybacks to $4 Billion for 2026 - MLQ.ai
In the first quarter of 2026, SLB demonstrated its commitment by executing a significant portion of its planned repurchases: schlumberger stock buyback
: SLB bought back $451 million of its common stock during Q1 2026.
The shift toward more aggressive share repurchases is supported by several key factors: Following its Q4 2025 earnings report, SLB outlined
: The company repurchased 9.2 million shares during this period.
: SLB's high-margin digital business, which saw a 9% year-on-year revenue increase in Q1 2026, allows for increased cash flow without heavy capital intensity. The shift toward more aggressive share repurchases is
: Despite slightly negative free cash flow in Q1 2026 ($23 million) due to seasonal factors and Middle East disruptions, the company maintained its buyback momentum using its cash position. Strategic Drivers for Accelerated Buybacks