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SLB N.V. (NYSE:SLB) is one of the best performing S&P 500 stocks so far in 2026. On April 24, SLB reported its Q1 2026 financial results, highlighted by a 3% year-on-year revenue increase to $8.72 billion. This growth was fueled by the integration of ChampionX, which contributed $838 million to the top line. However, the quarter was marked by geopolitical headwinds, specifically widespread disruptions in the Middle East that led to the demobilization of operations.

Excluding the ChampionX acquisition, global revenue actually declined by 7% compared to the previous year, reflecting a challenging start to 2026 as customers took action to safeguard personnel and facilities. Furthermore, GAAP EPS fell 14% year on year to $0.50, while adjusted EBITDA decreased 12% to $1.77 billion. These declines were most pronounced in the Well Construction and Reservoir Performance divisions, which were hit hardest by the Middle East conflict and associated pricing headwinds.

Despite these pressures, the Digital segment showed resilience with a 9% revenue increase, supported by $1.02 billion in ARR and an expanding technology collaboration with NVIDIA to develop AI infrastructure for the energy industry. Looking ahead, SLB N.V. (NYSE:SLB) leadership anticipates a gradual rebalancing of global liquid supply and demand through 2027.

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SLB N.V. (NYSE:SLB) provides technological solutions for the energy sector. Its portfolio includes carbon management & production, stimulation services, various drilling services, and more. It is also involved in the development & production of roller-cone and fixed-cutter drill bits, as well as several tech-based intelligent systems.

While we acknowledge the potential of SLB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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