UK's Hunting H1 revenue falls, lowers annual EBITDA forecast
UK's Hunting H1 revenue falls, lowers annual EBITDA forecast
Overview
UK precision engineering group's H1 revenue fell 6% yr/yr to $497 mln
Adjusted EPS for H1 dropped to 15.2c from 19.6c a year earlier
Company declared interim dividend of 7.0c, up 13% from prior year
Outlook
Hunting revises 2026 EBITDA guidance to $138-141m, down from previous forecast
Company expects year-end cash and bank position at $50-$60m as working capital unwinds
Company anticipates continued year-on-year growth into 2027, subject to KOC tender outcome
Result Drivers
SUBSEA MARGINS - Co said strong earnings and higher margins in Subsea Technologies were driven by recent order momentum and improved trading conditions
PERFORATING SYSTEMS GROWTH - Co reported improved performance and market share gains in Perforating Systems, supported by international sales
KOC ORDER ABSENCE - Revenue decline attributed in part to lack of Kuwait Oil Company orders that benefited prior-year results
Company press release: ID:nRSU5793Ra
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue | Beat | $497 mln | $480 mln (1 Analyst) |
H1 Adjusted EPS | Meet | $0.15 | $0.15 (1 Analyst) |
H1 Dividend |
| $0.07 |
|
H1 EBITDA |
| $62.10 mln |
|
H1 Operating Profit |
| $39.70 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Hunting PLC is GBp565.00, about 19.3% above its August 20 closing price of GBp473.50
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)