Will the contract trigger any changes in Halliburton’s guidance or EPS estimates for the next two fiscal years?

Impact on Guidance and EPS Outlook

The five‑year North‑Sea well‑stimulation contract with ConocoPhillips adds a new, long‑term revenue stream for Halliburton, but its relative size—​a single offshore service contract—​is modest compared with Halliburton’s ≈ $30 billion annual revenue base. Consequently, it is unlikely to trigger an immediate revision to Halliburton’s full‑year guidance for FY 2025‑2026. The company’s earnings guidance already incorporates a “growth‑through‑services” narrative, and the incremental $200‑$300 million of incremental revenue (roughly 1‑2 % of total sales) would be absorbed within existing forward‑looking assumptions. In other words, unless Halliburton explicitly updates its guidance, analysts should not expect a formal lift to the company’s FY 2025 or FY 2026 EPS outlook solely because of this contract.

Trading Implications

Investors can treat the contract as a positive, incremental catalyst that may modestly uplift earnings estimates in the next two fiscal years, but it is not a catalyst for a guidance “re‑run” at this time. The market is likely to price the incremental upside incrementally over the next quarters, especially as the “North Pomor” vessel comes online and the first revenues start to appear (likely 2026‑27). As a result, a long‑biased position on Halliburton (e.g., buying on a pull‑back to the $45–$48 range) remains defensible, with the upside capped at the modest EPS lift (roughly +0.05 to +0.10 $ per share) that the contract could contribute. Keep an eye on Halliburton’s next quarterly earnings release; if management highlights the contract’s revenue contribution, a modest upgrade to consensus EPS estimates is plausible, but a full guidance revision is unlikely unless the contract scales beyond the current scope or additional offshore contracts are announced.