Hunting

Hunting reported H1 2024 revenue of £497m and EBITDA of £62.1m with a stable gross margin, while EPS fell from £0.196 to £0.152. Management raised the dividend by 13% and is continuing share buybacks, but cut its 2024 EBITDA guidance by around £10m after a major KOC tender was postponed. Investors reacted negatively to the contract delay and guidance cut, sending the share price down about 13%. The company continues to emphasize diversification away from oil and gas and expects stronger activity and margins in the second half of the year. » More on de.investing.com

Hunting’s share fell about 16.6% to 395p after the company cut its 2026 EBITDA forecast to $138–141m (previously $145–155m). The downgrade was caused by a delay in the Kuwait Oil Company tender process, which weighs on results by roughly $10m. In the first half, revenue fell 6% to $497.0m and EBITDA dropped 12% to $62.1m; adjusted diluted earnings per share fell to 15.2 cents, and free cash flow was negative due to a significant build-up in working capital. A sale of 50,000 shares by a member of the Executive Committee and the CEO’s resignation added to investor uncertainty, while geopolitical risks in the Middle East pose additional short-term headwinds for the sector. » More on de.investing.com

Hunting reported H1 EBITDA of USD 62m in line with expectations and reaffirmed its full‑year guidance of USD 145–155m EBITDA, an EBITDA margin of 13–14%, and year‑end cash of USD 60–65m. The company returned USD 32.6m in the first half via share buybacks and paid USD 10.1m in dividends. Additional drivers include a growing order book, sustained demand in high‑growth business areas, and planned cost savings of USD 15m annually in 2026/27; full‑year results are due on 21 August. » More on de.investing.com