Hunting stock trims 2026 EBITDA guidance after H1 results

Hunting stock responds to H1 2026 figures with revenue of $497 million, EBITDA of $62.1 million and a trimmed full-year EBITDA range.

Hunting PLC (GB0004225066) reported H1 2026 revenue of $497 million, EBITDA of $62.1 million and EBITDA margin of 12%, while full-year EBITDA guidance was trimmed to $138 million-$141 million. The same update also showed EPS of $0.152, down from $0.196 a year earlier, giving the stock a clear earnings-and-guidance hook.

Guidance reset

The latest H1 2026 update puts the KOC tender delay at the center of the story, because management linked the guidance cut directly to that timing shift. Order book stood at $386 million, with $260 million expected to be booked in 2026, while return on capital was 9.1% and gross profit margin held at 27%.

For investors, the quantified comparison matters most: EBITDA guidance now sits at $138 million-$141 million after the earlier pipeline reset, and EPS fell 22.4% year over year from $0.196 to $0.152. Net borrowings were $19 million, so the balance sheet still leaves room for working-capital swings.

Segment mix

Hunting's Titan revenue rose 45% year over year and Subsea revenue increased 95%, helped by $15 million from the FES acquisition. Non-oil and gas revenue climbed to $38 million, showing that the business mix is still widening beyond the traditional oilfield cycle.

The company also said dividend payments increased 13% to $0.07 per share for the half year, while free cash conversion guidance stayed at 50%. That combination of stronger segment growth and softer earnings per share is the key tension in the current setup.

What the product does

Hunting's Titan perforating line is one of the products that supports the company's upstream oilfield-services franchise, alongside subsea and advanced manufacturing equipment. The H1 2026 commentary said Titan sales were helped by stronger US rig activity and higher international demand, which is consistent with the group's broader multi-market strategy.

Stock level

Hunting shares are trading in London, and the latest H1 2026 update leaves the market focused on whether the $386 million order book can translate into the higher EBITDA range later in the year.

Fact box

Company: Hunting PLC
ISIN: GB0004225066
Ticker: HTG
Exchange: London Stock Exchange
Sector / Industry: Energy / Energy Equipment & Services