Olivier Peuch on tariffs
From Slb NV ($SLB) Q1 2025 Earnings Call · · Castify Earnings Call
“We are taking proactive steps to mitigate the potential impacts. This includes reviewing how to further optimize our supply chain and manufacturing network, as well as diligently pursuing all applicable exemptions and drawbacks. We are also actively engaging with customers to recover tariff induced cost increases through contractual adjustments.”
On , Olivier Peuch, Chief Executive Officer & Director at Schlumberger NV, spoke about tariffs during Slb NV ($SLB) Q1 2025 Earnings Call on Castify Earnings Call.
About Olivier Peuch
Olivier Le Peuch, CEO of SLB, stated during the company's Q1 2025 earnings call that the industry is navigating global economic uncertainty stemming from supply-demand imbalances and tariff announcements. He noted that revenue from carbon capture and storage (CCS), geothermal, critical minerals, and data center solutions was on pace to exceed $1 billion in 2025. Le Peuch also reiterated the company's commitment to returning at least $4 billion to shareholders in 2025. Throughout 2025, Le Peuch discussed the company's strategic focus on production recovery, including the acquisition of ChampionX, which he said positions SLB to address both OPEX and CAPEX markets. He described the digital business as the fastest-growing part of SLB and stated that digital revenue was expected to continue growing at a rate that outperforms global upstream spending. On the Q4 2025 earnings call, Le Peuch projected 2026 revenue between $36.9 billion and $37.7 billion, assuming oil prices remain in the high $50s to low $60s range, and said the company would return more than $4 billion to shareholders in 2026. He also noted that SLB is the only international service company actively operating in Venezuela.