Management remarks
Call period: 2026 Q2 · 2026-07-24
Guidance: Stephane Biguet: For the full year, we still expect capital investments to be approximately $2.5 billion.Demand and orders: Olivier Le Peuch: We are securing work scope with international company that are -- that either were there or that are reinforcing their position in country, and we are accompanying them into paying and planning mobilizing resources as we speak with significant setup that will happen in the next few months to give us a significant exit rate that will enter 2027 with multiple customers and multiple contracts that will shape 2027 in a significant growth curve compared to where we were in '25 and where we are in '26.Margins: Stephane Biguet: Digital pretax operating margin of 27.8% expanded 683 basis points, while adjusted EBITDA margin of 34.7% increased 860 basis points.Analyst Q&A
Analyst Keith MacKey asked: Okay. I appreciate the comments there. And just maybe stepping back a little bit on the FID comment. So 30% increase in long-cycle FIDs and bodes well for 2027. Can you just comment generally on the revenue conversion to SLB of FIDs of this nature? Management Olivier Le Peuch answered: I think depending on the FID, depending on the water contract, depending on the position we earn on that FID. I think between any FID and the first well drilled, I think there is typically at least 12 months. And FID, typically this year, these days, 2 to 3 years as a minimum, if not 3 to 5 years, depending on number of wells, number of subsidiaries and the more phases of those products. So between contract award and first revenue a few quarters and then the duration of any of this FID deepwater is typically to the order of 2 or 3 years as a minimum.管理层陈述
电话会期间：2026 Q2 · 2026-07-24
指引：对于全年，我们仍预计资本投资约为25亿美元。需求与订单：奥利维尔·勒珀什：我们正在与此前已在当地或正在巩固本国市场地位的国际公司敲定工作范围，目前正协助它们进行付款规划并调动资源，未来几个月将开展大量筹备工作以实现可观交付率，到2027年时将拥有多个客户和合同，与2025年及当前的2026年相比，这些将推动2027年实现显著增长曲线。利润率：斯特凡纳·比格耶：数字化业务税前营业利润率为27.8%，扩大683个基点；调整后EBITDA利润率为34.7%，扩大860个基点。分析师问答
分析师基思·麦基：好的，感谢您的发言。我们想谈谈最终投资决定（FID）相关内容：长期项目的FID增加了30%，这对2027年是利好。您能否大致说明这类FID为斯伦贝谢带来的收入转化情况？ 管理层奥利维耶·勒珀什：这取决于具体FID、供水合同以及我们在项目中的地位。从FID到第一口井钻探通常至少需12个月，如今这类FID周期至少2至3年，视井数、子公司数量和产品阶段多少甚至可达3至5年。从合同授予到首笔收入需几个季度，深水FID的收入周期通常至少为2至3年。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
