SLB N.V. (NYSE:SLB) shareholders are probably feeling a little disappointed, since its shares fell 5.4% to US$49.59 in the week after its latest second-quarter results. Results overall were respectable, with statutory earnings of US$0.52 per share roughly in line with what the analysts had forecast. Revenues of US$9.0b came in 3.3% ahead of analyst predictions. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Following last week's earnings report, SLB's 25 analysts are forecasting 2026 revenues to be US$36.9b, approximately in line with the last 12 months. Statutory earnings per share are predicted to grow 18% to US$2.47. Before this earnings report, the analysts had been forecasting revenues of US$36.5b and earnings per share (EPS) of US$2.49 in 2026. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

There were no changes to revenue or earnings estimates or the price target of US$62.00, suggesting that the company has met expectations in its recent result. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values SLB at US$71.00 per share, while the most bearish prices it at US$43.00. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await SLB shareholders.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's pretty clear that there is an expectation that SLB's revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 3.1% growth on an annualised basis. This is compared to a historical growth rate of 11% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 6.9% per year. Factoring in the forecast slowdown in growth, it seems obvious that SLB is also expected to grow slower than other industry participants.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. The consensus price target held steady at US$62.00, with the latest estimates not enough to have an impact on their price targets.

With that in mind, we wouldn't be too quick to come to a conclusion on SLB. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple SLB analysts - going out to 2028, and you can see them free on our platform here.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.