SLB, formerly known as Schlumberger, reported first-quarter 2025 earnings that missed analyst expectations, with a 4% decline in earnings and a 3% year-on-year drop in revenue to $8.49 billion. Adjusted earnings per share were $0.72, compared to the estimated $0.74. The company's profit for the quarter was $797 million. Well Construction revenue reached $2.98 billion, and adjusted EBITDA was $2.02 billion. Latin America revenue fell 10% to $1.50 billion, international revenue declined 5% to $6.73 billion, while North America revenue increased 8%. SLB warned of lower spending by oil producers and the impact of tariffs, with CEO Olivier Le Peuch highlighting heightened uncertainty for oil and gas investment due to economic slowdown fears, volatile prices, and ongoing tariff issues. The company expects global upstream investment to decline compared to 2024, with customer spending in the Middle East and Asia being more resilient than other regions. SLB joins Halliburton and Baker Hughes in flagging caution for the sector. To address the tariff impact, SLB is reviewing its supply chain, pursuing exemptions, and working with customers to recover cost increases. Approximately half of SLB's operations remain exposed to tariffs, primarily related to trade between the US and China. The company expects margins to grow by 50 to 100 basis points in the second quarter, with revenue in the second half of 2025 projected to be flat to mid-single digits higher than the first half. SLB reaffirmed its commitment to returning at least $4 billion to shareholders through dividends and share buybacks in 2025. The company continues to optimize costs and align resources with activity levels.