Hunting stock slips after H1 2026 guidance cut

Hunting stock was hit by a lower 2026 earnings guide after H1 2026 revenue of $497.0 million and EBITDA of $62.1 million.

Hunting plc (GB0004225066) was pressured after it cut 2026 EBITDA guidance to $138 million-$141 million, following first-half 2026 revenue of $497.0 million and EBITDA of $62.1 million. The six-month figures were reported for the period ended June 30, 2026, and the new outlook is $10 million below the prior plan.

Guidance reset

The latest half-year update ties the weaker tone to a Kuwait Oil Company tender delay, which management said would reduce 2026 EBITDA by about $10 million. That makes the new range of $138 million-$141 million the key number for investors, especially after adjusted diluted EPS in H1 2026 came in at 15.2 cents versus 19.6 cents a year earlier.

Revenue for the six months ended June 30, 2026, fell to $497.0 million from $528.6 million in H1 2025, while EBITDA dropped to $62.1 million from $70.2 million. The sales order book stood at $386.5 million, which is below the $451.5 million reported a year earlier and leaves the tender timing more important than the headline sales mix.

Market reaction

The shares fell 13 percent to 410.5 pence, with the latest 12-month range shown at 300.00 pence to 553.00 pence. That move puts the stock closer to the middle of its range than to the peak, even after the interim dividend was held at 7.0 cents per share, up from 6.2 cents a year earlier.

The market is now weighing whether the delayed KOC process shifts income into 2027 rather than 2026. The new guidance implies a narrower profit runway for the second half, while the order book and subsea performance still leave room for a steadier finish if contract timing improves.

Products and exposure

Hunting supplies equipment and engineering services to the oil and gas industry, with product groups spanning perforating systems, subsea, OCTG and advanced manufacturing. The subsea and perforating systems lines were among the stronger parts of the half-year mix, even as the overall revenue base softened.

The stock closed at 410.5 pence, and the 12-month range of 300.00 pence to 553.00 pence shows how far sentiment can swing when contract timing changes. For now, the new EBITDA range and the June 30, 2026 half-year figures are the numbers that matter most.

Fact box

Company: Hunting plc

ISIN: GB0004225066

Ticker: HTG

Exchange: London Stock Exchange

Price: 410.5 pence

Market cap: GBP 681 million

Sector / Industry: Energy / Oil and Gas Equipment and Services

Index membership: FTSE All-Share

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