Hunting reported Q1 EBITDA of $23 million (10% margin) and quarter-end cash of $8 million after working-capital build and ongoing buybacks, maintained full-year EBITDA guidance of $145–$155 million, and saw its sales order book rise to $428 million from $358 million at end‑2025. The 2030 strategy is advancing via acquisitions—FES (subsea) and Organic Oil Recovery (OOR)—with ~ $20 million budgeted for OOR in 2026 and a management target of $100 million OOR revenue by 2030, alongside a move to exit cash‑intensive drilling tools. Operational highlights include stronger-than-expected Perforating Systems and OCTG demand (notably Guyana and KOC orders), market‑share gains for Titan in North America, increased subsea activity, and growth in Advanced Manufacturing (nuclear/aerospace) while electronics remains more oil‑focused.
Interested in Hunting PLC? Here are five stocks we like better. Hunting (LON:HTG) used its 2026 Annual General Meeting to highlight a "strong financial performance" in 2025, provide a first-quarter trading update, and discuss progress on its long-term 2030 strategy, including acquisitions, capital returns, and diversification efforts.
Stuart Brightman, Non-Executive Company Chair, opened the meeting by saying 2025 delivered "a further year of strong financial performance," alongside increased shareholder distributions and continued execution of the company's 2030 growth initiatives. → 95% Options Surge: Smart Money Bets Big on a Super Micro Bounce Brightman also summarized the trading statement released the morning of the AGM, reporting that the group delivered Q1 EBITDA of $23 million, representing a 10% margin. He said the first quarter typically includes working-capital investment to satisfy committed orders, resulting in a net cash outflow. Combined with the ongoing share buyback program, he said this left a quarter-end cash and bank position of $8 million.
According to Brightman, all product groups traded as expected, with Perforating Systems sales in North America performing ahead of expectations as "higher quality revenue and stronger production efficiencies continue to lift profitability." He said full-year guidance was unchanged, with the company maintaining an EBITDA range of $145 million to $155 million. Brightman added that results are expected to be second-half weighted, with about 40% of earnings in the first half and 60% in the second half. → Rocket Lab Is Back at a Line in the Sand—Now What? He also noted that as of April 14 the group's sales order book was $428 million, compared with $358 million at the end of December 2025.
Brightman said the company had recently secured new orders for titanium stress joints for its fifth major project in Guyana, with work to be completed through 2026 and into 2027. Chief Executive Jim Johnson told shareholders he believed "there's probably never been a better time to be an investor in Hunting," arguing that "energy security matters" and that "the age of hydrocarbons is not disappearing anytime soon." While reaffirming the company's focus on its core energy business, he said Hunting is also looking to diversify, citing its Advanced Manufacturing group. → Booking Holdings Down 15%, Is It Time to Buy? Johnson said the company achieved a number of objectives tied to its 2030 strategy in 2025, including completing two acquisitions.
He said Hunting expanded its subsea footprint with the acquisition of FES and was "very pleased with how that integration has gone." He also discussed the acquisition of Organic Oil Recovery (OOR), describing it as a move that brought technology in-house that Hunting previously did not own. Johnson said the acquisition removed geographic limitations that had existed under a licensing structure: "The chains are off." Johnson also pointed to the completion of "the biggest orders in the company's history for OCTG" for KOC, while noting that anticipated additional orders may be affected by uncertain timing due to regional turmoil. He said Hunting opened a new Dubai facility to be closer to customers, describing it as partly driven by the need to downsize European operations.
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