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Hunting Shares Jump After Reaffirming Full-Year Profit Guidance
Shares in Hunting PLC (LSE:HTG) rallied on Tuesday after the energy services firm reaffirmed its full-year earnings forecast in a first-half trading update, providing investors with confidence amid a mixed market environment.
The company's stock climbed 5.3% to 474 pence following the announcement, marking a significant recovery from its 52-week low of 289.5p.
Trading Update Details
Hunting reported first-half earnings before interest, taxes, depreciation, and amortization (EBITDA) of $62 million, which was in line with previous guidance. The company reiterated its full-year 2026 EBITDA forecast of $145 million to $155 million.
According to the update, Hunting also remains on track to achieve its other key financial targets for the year:
Ad- An EBITDA margin of 13%–14%
- Year-end cash reserves of $60 million to $65 million
Business Performance and Returns
The company stated that strong demand for its subsea equipment and products for unconventional well completions helped offset softer performance in its OCTG (Oil Country Tubular Goods), Advanced Manufacturing, and Other Manufacturing segments.
Hunting also highlighted its commitment to shareholder returns, noting it had returned $32.6 million through share buybacks and distributed $10.1 million in dividends during the first half. A cost-saving initiative is on track to deliver $15 million in annual savings across 2026 and 2027, further bolstering the financial outlook. Investors will be watching for the company's full results, scheduled for release on August 21.
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