Hunting H1 Earnings Call Highlights

Hunting H1 Earnings Call Highlights Written by MarketBeat August 21, 2026 Add As Preferred Source Share Share Share This Article Link copied to clipboard. Close Image from MarketBeat Media, LLC. Key Points Hunting reported first-half revenue of $497 million and EBITDA of $62.1 million , with a 12% margin. Strong growth in Titan perforating and subsea—up 45% and 95%, respectively—offset the absence of Kuwait Oil Company revenue in the comparison period. KOC canceled tenders worth more than $300 million amid Middle East-related disruption and transport challenges, pushing the expected work into 2027. Hunting consequently reduced full-year EBITDA guidance by about $10 million to $138 million–$141 million. The company proposed a 13% increase in its interim dividend to $0.07 per share while continuing share buybacks. Hunting ended the period with a $386 million order book and a tender pipeline of nearly $1 billion, while expecting working capital to unwind in the second half. MarketBeat previews top five stocks to own in September . Hunting LON: HTG reported first-half revenue of $497 million and EBITDA of $62.1 million, representing a 12% EBITDA margin, as growth in its Titan perforating and subsea businesses helped offset disruption to a major Kuwait Oil Company tender process. Bruce Ferguson, Group Finance Director, said the company’s first-half results excluded Kuwait Oil Company, or KOC, revenue included in the prior-year comparison. Hunting reported profit after tax of $24.8 million and earnings per share of $0.152, compared with $0.196 previously. Non-oil-and-gas revenue rose year over year to $38 million. Get Hunting alerts: Sign Up Management proposed a first-half dividend of $0.07 per share, a 13% increase, while continuing share buybacks. The company said it had not issued shares in connection with purchases of treasury shares for its long-term incentive programs. Titan and Subsea Drive Performance Management highlighted a turnaround at its Hunting Titan perforating business, citing sales, cost, supply-chain and technology improvements. Ferguson said Hunting Titan revenue increased 45% year over year, supported by U.S. activity and higher international sales, including business in Argentina and the Middle East. Hunting said Titan’s international business increased about 50% year over year. Management also said it had maintained margins despite higher input costs, including a 500% year-over-year rise in tungsten prices. Titan recorded $83 million in second-quarter sales, and Ferguson said sales and margins were expected to continue improving in the second half. Subsea revenue increased 95% year over year, with $50 million attributed to the acquisition of Flexible Engineered Solutions. Management said the subsea portfolio has become Hunting’s highest-margin business and contributed to the group’s improved margin profile. The company pointed to activity in Guyana, offshore markets and demand for subsea trees as key drivers. Management said it had secured a $16 million order from a new Gulf of America customer for titanium stress joints, displacing a competing solution. Hunting is also pursuing opportunities for the product in West Africa. Hunting’s North American OCTG business was described as steady, while its Advanced Manufacturing operations benefited from changing customer mix, increased electronics activity and Titan-related manufacturing volumes. At the Dearborn operation, management said non-oil-and-gas customers accounted for as much as 90% of recent business, with aerospace, defense and power-generation demand contributing. Kuwait Tender Cancellation Reduces Outlook The company said KOC canceled the full set of tenders for which Hunting had been positioned to receive awards worth more than $300 million. Management said the conflict affecting the Middle East and challenges associated with transporting materials through the Strait of Hormuz led KOC to request revised pricing and delivery schedules before ultimately canceling the process. Hunting had received a $20 million purchase order for one line item before the cancellation. Management expects the original tenders to be reissued within about 60 days, but said the resulting activity would now be a 2027 event. KOC has also issued a separate tender for another field, valued at approximately $120 million to $180 million, which Hunting expects to bid on within 60 days. Deliveries under that tender are scheduled to begin in June of the following year, according to management. Ferguson said the KOC delay prompted Hunting to reduce its EBITDA guidance by roughly $10 million. The company now expects full-year EBITDA of $138 million to $141 million, with EBITDA margins of 12% to 13%. Management reiterated its target of reaching a 15% EBITDA margin over time. Hunting said the disruption has also affected tender activity in Bahrain, Iraq and Qatar, where transport constraints have complicated the delivery of pipe. Still, management said projects in the re