Hunting PLC (LSE:HTG) reported improved earnings and cash flow for 2025, with unaudited EBITDA rising 7% year on year to around $135m and margins expanding to approximately 13%. Performance was underpinned by strong cash generation, even as the group worked through project completions and experienced mixed trading conditions across regions. Hunting ended the year with an order book of about $350m and a tender pipeline in excess of $1bn, providing solid revenue visibility.
The group reiterated its long-term Hunting 2030 ambition to deliver around $2bn of annual revenue at EBITDA margins of at least 15%. As part of this strategy, management significantly increased its subsea revenue target, upgrading expectations from $250m to $470m per annum by 2030. The shift reflects a clearer strategic focus on higher-margin Subsea Technologies, supported by earnings-enhancing acquisitions such as FES and OOR.
Looking ahead, Hunting issued 2026 EBITDA guidance of $145m to $155m, signalling further earnings momentum. The company also highlighted continued commitment to shareholder returns through higher dividends and its ongoing $60m share buyback programme, supported by a low-leverage balance sheet and strong cash flow profile.
Overall, Hunting’s outlook is supported by improved cash generation, balance sheet strength and shareholder-friendly capital allocation, alongside positive strategic progress in subsea markets. These strengths are partly offset by recent earnings volatility and softer technical indicators, which suggest near-term momentum remains mixed.
More about Hunting PLC
Hunting PLC is a global precision engineering group listed on the London Stock Exchange, supplying precision-manufactured equipment and premium services to the energy industry. The company has an increasing focus on offshore and subsea technologies and operates through segments including Hunting Titan, North America, Subsea Technologies, EMEA and Asia Pacific, with a corporate headquarters in Houston.
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