Hunting AGM: Q1 EBITDA $23M, order book jumps to $428M as 2030 strategy gains traction

Hunting (LON:HTG) utilized its 2026 Annual General Meeting to item a “strong fiscal performance” successful 2025, supply a first-quarter trading update, and sermon advancement connected its semipermanent 2030 strategy, including acquisitions, superior returns, and diversification efforts.

Stuart Brightman, Non-Executive Company Chair, opened the gathering by saying 2025 delivered “a further twelvemonth of beardown fiscal performance,” alongside accrued shareholder distributions and continued execution of the company’s 2030 maturation initiatives.

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Brightman besides summarized the trading connection released the greeting of the AGM, reporting that the radical delivered Q1 EBITDA of $23 million, representing a 10% margin. He said the archetypal 4th typically includes working-capital concern to fulfill committed orders, resulting successful a nett currency outflow. Combined with the ongoing stock buyback program, helium said this near a quarter-end currency and slope presumption of $8 million.

According to Brightman, each merchandise groups traded arsenic expected, with Perforating Systems income successful North America performing up of expectations arsenic “higher prime gross and stronger accumulation efficiencies proceed to assistance profitability.” He said full-year guidance was unchanged, with the institution maintaining an EBITDA scope of $145 cardinal to $155 million. Brightman added that results are expected to beryllium second-half weighted, with astir 40% of net successful the archetypal fractional and 60% successful the 2nd half.

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He besides noted that arsenic of April 14 the group’s income bid publication was $428 million, compared with $358 cardinal astatine the extremity of December 2025. Brightman said the institution had precocious secured caller orders for titanium accent joints for its 5th large task successful Guyana, with enactment to beryllium completed done 2026 and into 2027.

Chief Executive Jim Johnson told shareholders helium believed “there’s astir apt ne'er been a amended clip to beryllium an capitalist successful Hunting,” arguing that “energy information matters” and that “the property of hydrocarbons is not disappearing anytime soon.” While reaffirming the company’s absorption connected its halfway vigor business, helium said Hunting is besides looking to diversify, citing its Advanced Manufacturing group.

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Johnson said the institution achieved a fig of objectives tied to its 2030 strategy successful 2025, including completing 2 acquisitions. He said Hunting expanded its subsea footprint with the acquisition of FES and was “very pleased with however that integration has gone.” He besides discussed the acquisition of Organic Oil Recovery (OOR), describing it arsenic a determination that brought exertion in-house that Hunting antecedently did not own. Johnson said the acquisition removed geographic limitations that had existed nether a licensing structure: “The chains are off.”