UK's Hunting keeps annual core profit guidance after H1 comes in line
UK's Hunting keeps annual core profit guidance after H1 comes in line
Overview
UK precision engineering group's H1 2026 EBITDA was about $62 mln, in line with its guidance
Subsea and Perforating Systems outperformed, offsetting lower activity in other segments
Company maintained full-year EBITDA guidance and reported higher period-end sales order book
Outlook
Hunting maintains 2026 full-year EBITDA guidance of $145-$155 mln, with margin of 13%-14%
Company expects year-end total cash and bank position of $60-$65 mln
Hunting sees Organic Oil Recovery revenue at $10-$15 mln in 2026
Result Drivers
PERFORATING SYSTEMS DEMAND - Strong demand for unconventional well completion products and market share gains in North America drove Perforating Systems results ahead of management expectations
SUBSEA CONTRACT MOMENTUM - Subsea performance supported by continued contract wins, including $63.5 mln of orders for titanium stress joint product line in Guyana
ORDER PHASING IMPACT - Lower activity in OCTG, Advanced Manufacturing and Other Manufacturing product groups due to order phasing, with higher performance projected in H2
Company press release: ID:nBw1xNw6fa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 EBITDA |
| $62 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 25.6% above its July 14 closing price of GBp450.00
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)