Hunting PLC (LSE:HTG) has secured a $31 million order to supply titanium stress joints for a deepwater gas development in the Black Sea. This award, combined with a previous contract, significantly boosts the company’s sales order backlog and supports its strategic ambition to grow within the expanding deepwater subsea market. The deal also leverages Hunting’s recent acquisition of Flexible Engineered Solutions, enhancing its capabilities in this sector.
The company’s outlook shows solid revenue expansion and a strong financial position, though profitability challenges and bearish technical signals temper the overall sentiment. Positive developments and a healthy dividend yield offer some confidence, despite valuation concerns indicated by a negative price-to-earnings ratio.
About Hunting PLC
Founded in 1874, Hunting PLC is a global precision engineering company specializing in high-quality manufactured equipment and services. Listed on the London Stock Exchange, it operates internationally with a presence in the UK, USA, China, and beyond. The business spans five key segments, focusing on areas including Subsea Technologies and Advanced Manufacturing.
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