{"id":36457,"date":"2026-07-15T11:00:00","date_gmt":"2026-07-15T09:00:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=5191aa8874548a5beff00fce657c2ef0"},"modified":"2026-07-15T11:00:00","modified_gmt":"2026-07-15T09:00:00","slug":"hunting-plc-hunting-or-the-company-or-the-group-h1-2026-trading-update","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=36457","title":{"rendered":"Hunting PLC (\u201cHunting\u201d or \u201cthe Company\u201d or \u201cthe Group\u201d) H1 2026 Trading Update"},"content":{"rendered":"<p>LONDON--(BUSINESS WIRE)--Hunting PLC (LSE: HTG), the precision engineering group, today publishes its H1 2026 Trading Update.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260714741199\/en\/2851787\/5\/HUNTING_LOGO_RGB_preferred_option.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260714741199\/en\/2851787\/22\/HUNTING_LOGO_RGB_preferred_option.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260714741199\/en\/2851787\/5\/HUNTING_LOGO_RGB_preferred_option.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260714741199\/en\/2851787\/21\/HUNTING_LOGO_RGB_preferred_option.jpg\" \/><\/a><p>\n<b>Highlights<\/b><\/p><p>\n<i>Operational<\/i><\/p><ul class=\"bwlistdisc\">\n<li>\nSolid Group performance during the period, with EBITDA in line with guidance.\n<ul class=\"bwlistcircle\">\n<li>\nSubsea performance underpinned by continued contract momentum in Guyana, with $63.5 million of orders for the Group\u2019s titanium stress joint product line secured during the period.<\/li>\n<li>\nPerforating Systems\u2019 results significantly ahead of management\u2019s expectations driven by strong demand for Hunting\u2019s unconventional well completion products internationally and market share gains across North America.<\/li>\n<li>\nThe Group\u2019s OCTG, Advanced Manufacturing and Other Manufacturing product groups all report lower activity in H1 2026 due to order phasing, with higher performance projected in H2 2026.<\/li>\n<\/ul><\/li>\n<li>\nGood progress with commercialisation of the Organic Oil Recovery (\u201cOOR\u201d) technology, with purchase orders received from a client in Pakistan, and positive well testing data in North America, Middle East and North Sea. Further progress expected to be reported in H2 2026.<\/li>\n<li>\nOngoing restructuring of EMEA operating segment with OCTG operations in Aberdeen now being transferred to the Badentoy operating site, with the Fordoun site to be closed by the end of the summer.<\/li>\n<li>\nPeriod-end sales order book of c.$387 million, ahead of the 2025 year-end position of $358 million.<\/li>\n<\/ul><p>\n<i>Financial<\/i><\/p><ul class=\"bwlistdisc\">\n<li>\nH1 2026 EBITDA of c.$62 million, consistent with the 40:60 phasing of full-year earnings guidance issued in March 2026.<\/li>\n<li>\nH1 2026 EBITDA margin of c.12%, reflecting the continued rebalancing of the earnings profile of the Group towards higher growth segments of the global oil and gas market.<\/li>\n<li>\nWorking capital increased to c.$394 million at 30 June 2026, reflecting the operational ramp-up required to support higher anticipated activity levels in H2 2026.<\/li>\n<li>\nTotal cash and bank \/ (borrowings) of c.$(19) million at 30 June 2026, reflects raw material purchases in the period and includes the following items:\n<ul class=\"bwlistcircle\">\n<li>\n$10.1 million of dividend distributions;<\/li>\n<li>\n$32.6 million of share buybacks (ongoing) - $6.0m of second buyback completed in H1;<\/li>\n<li>\n$11.6 million from treasury share purchases; and<\/li>\n<li>\n$8.8 million on settlement of UK import duty provision.<\/li>\n<\/ul><\/li>\n<\/ul><p>\n<i>Outlook<\/i><\/p><ul class=\"bwlistdisc\">\n<li>\nGroup well positioned to navigate near-term oil price and market volatility.<\/li>\n<li>\nRobust outlook for increases in activity in Asia Pacific, the Americas and the Middle East driven by AI driven power demand, oil and gas security of supply, and changes to OPEC.<\/li>\n<li>\n2026 full year EBITDA guidance of between $145-$155 million is maintained, with EBITDA margin guidance unchanged at c.13%-14%.<\/li>\n<li>\nProjected year-end total cash and bank position is unchanged at c.$60-$65 million as working capital investments in H1 unwind.<\/li>\n<li>\n$15 million p.a. of Group-wide cost savings on track for delivery between 2026 and 2027.<\/li>\n<\/ul><p>\n<b>Jim Johnson, Chief Executive of Hunting, commented:<\/b><\/p><p>\n<i>\"Our H1 performance has seen continued strong momentum in our Subsea and Perforating Systems businesses supporting our unchanged full-year expectations as we continue the process of rebalancing our earnings profile towards the international unconventional, offshore and subsea segments of the global oil and gas market.<\/i><\/p><p>\n<i>\u201cLooking ahead, although the conflict in the Middle East and resultant oil price dynamics may create near-term volatility, the rigorous execution of our strategy means we will benefit from longer-term, multi-year oil and gas expansion plans, as well as an increased focus on energy security and independence and AI driven power demand.<\/i><\/p><p>\n<i>\u201cOur multiple product lines and global footprint provide the business with exceptional structural resilience and mean we are well positioned to continue to deliver growth and expand market share despite wider market uncertainty.<\/i><\/p><p>\n<i>\u201cOverall, Hunting remains well-placed to achieve strong, long-term growth and increased shareholder returns.\u201d<\/i><\/p><p>\n<b>Trading Update<\/b><\/p><p>\n<i>Improved sales order book and tender pipeline<\/i><\/p><p>\nThe Group reports a period-end sales order book of c.$387 million, ahead of the 2025 year-end position of $358 million.<\/p><p>\nThe Group\u2019s tender pipeline remains robust at c.$1.0 billion.<\/p><p>\n<i>Encouraging performance across the businesses<\/i><\/p><p>\nDuring the period, the Group\u2019s Perforating Systems and Subsea product groups have traded ahead of expectations, with particularly strong demand for Hunting\u2019s unconventional well completion products being reported within both International and North America markets. The Subsea product group also saw strong demand for its couplings and valves and good progress on the Longtail and Hammerhead projects in Guyana.<\/p><p>\nThe Group\u2019s OCTG, Advanced Manufacturing and Other Manufacturing product groups reported lower activity in H1 2026 due to order phasing, with recovery projected in H2 2026.<\/p><p>\nOverall, the outlook for all product groups remains encouraging, as both energy-related and non-oil and gas end-markets continue to provide reassuring indications of strong growth out to the end of the decade.<\/p><p>\nIn respect of the Group\u2019s operating segments, the Hunting Titan operating segment traded ahead of expectations during the period, with the Subsea Technologies operating segment trading well, offsetting lower results being reported across the Group\u2019s other operating segments.<\/p><p>\n<i>Organic Oil Recovery<\/i><\/p><p>\nHunting now has more than 30 active clients who are either sampling or field testing the OOR technology. Clients including Buccaneer Energy, in the US, PDO in Oman and UEPL and OGDCL in Pakistan, have progressed to commercial deployment of the technology.<\/p><p>\nTesting continues on a number of North Sea fields, with discussions underway about the next steps, and further progress to be reported in H2 2026.<\/p><p>\nHunting continues to expect the business unit to generate revenue of c.$10-$15 million in 2026, supported by customers moving from smaller sampling projects to full-field injection programmes as the year progresses.<\/p><p>\nManagement remains confident that it can grow into a $100 million per annum business by 2030.<\/p><p>\n<i>2026 full year guidance<\/i><\/p><p>\nFull-year EBITDA guidance of c.$145-$155 million remains in line with market expectations. The year-end total cash and bank\/(borrowings) position is expected to be c.$60-$65 million.<\/p><p>\n<i>M&amp;A activity<\/i><\/p><p>\nAs part of the Hunting 2030 Strategy, management continues to assess several bolt-on acquisitions, with a targeted pipeline of transactions under review during the period. Subsea and intelligent well completion businesses remain a particular area of focus for the Group.<\/p><p>\n<b>Chief Executive Search<\/b><\/p><p>\nFollowing the announcement on 1 June 2026, the Directors confirm that the Board has appointed an international search firm to assist in the appointment of a new Chief Executive. The process will consider internal and external candidates and will incorporate a global search given the international profile of Hunting\u2019s operations and personnel.<\/p><p>\n<b>External Audit Tender<\/b><\/p><p>\nDuring H1 2026, the Company completed a competitive tender process for its external auditor overseen by its Audit and Risk Committee, which carefully evaluated the offering of each participant. This has resulted in a recommendation from the Audit and Risk Committee, which has now been endorsed by the Directors, that a resolution be put to shareholders for approval at the 2027 Annual General Meeting to appoint KPMG LLP as external auditor of the Company and its subsidiaries for the year ending 31 December 2027.<\/p><p>\nDeloitte LLP will continue in their current role and will undertake the audit for the year ending 31 December 2026. Deloitte LLP will cease to hold office as the external auditor of the Company at the conclusion of the Company's 2027 AGM, subject to approval by shareholders of the appointment of KPMG LLP.<\/p><p>\n<b>2026 Half Year Results<\/b><\/p><p>\nHunting PLC will announce its 2026 half year results on Friday 21 August 2026.<\/p><p>\n<b>About Hunting PLC<\/b><\/p><p>\nHunting is a global, precision engineering group that provides precision-manufactured equipment and premium services, which add value for our customers. Established in 1874, it is a listed public company, quoted on the London Stock Exchange in the Equity Shares in Commercial Companies (\u201cESCC\u201d) category. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, India, Indonesia, Mexico, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.<\/p><p>\nThe Group reports in US dollars across five operating segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa (\u201cEMEA\u201d); and Asia Pacific.<\/p><p>\nThe Group also reports revenue and EBITDA financial metrics based on five product groups: OCTG; Perforating Systems; Subsea; Advanced Manufacturing; and Other Manufacturing.<\/p><p>\nHunting PLC\u2019s Legal Entity Identifier is 2138008S5FL78ITZRN66.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nFor further information please contact:<\/p><p>\n<b>Hunting PLC<\/b><br\/>Jim Johnson, Chief Executive\n<br\/>Bruce Ferguson, Finance Director\n<br\/><b>Tel: +44 (0) 20 7321 0123<\/b><\/p><p>\n<b>S<\/b><b>odali &amp; Co<\/b><br\/>James White\n<br\/>Tilly Abraham\n<br\/><b>Tel: +44 (0) 79 3535 1934<\/b><\/p><p>\nor<\/p><p>\n<b><a  href=\"mailto:lon.IR@hunting-intl.com\" rel=\"nofollow\" shape=\"rect\">lon.IR@hunting-intl.com<\/a><\/b><\/p>","protected":false},"excerpt":{"rendered":"<p>LONDON&#8211;(BUSINESS WIRE)&#8211;Hunting PLC (LSE: HTG), the precision engineering group, today publishes its H1 2026 Trading Update.<br \/>\nHighlights<br \/>\nOperational<\/p>\n<p>Solid Group performance during the period, with EBITDA in line with guidance.<\/p>\n<p>Subsea performance und&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-36457","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/36457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36457"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/36457\/revisions"}],"predecessor-version":[{"id":36458,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/36457\/revisions\/36458"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}