Hunting PLC (LSE:HTG) has been awarded $63.5 million in orders for its titanium stress joint products to support a new offshore project in Guyana, with deliveries scheduled through to May 2028 and revenue expected to begin flowing in the second half of 2026.
The contract will be executed by the company’s Subsea Spring division and builds on an additional $4.4 million in related orders secured since December 2025. The components will support Floating Production, Storage and Offloading (FPSO) vessels, reflecting continued demand for Hunting’s specialised subsea solutions.
The Guyana project forms part of the company’s broader strategy to expand its presence in FPSO-linked offshore developments and increase its share of global subsea infrastructure spending. Management said the new orders are expected to contribute meaningfully to subsea revenue and EBITDA over the coming years, strengthening the group’s role as a supplier to major oil and gas operators and service companies across the offshore well lifecycle.
Hunting’s outlook is supported by improving operating performance and a resilient balance sheet. Positive FY26 guidance, a strong tender pipeline and ongoing shareholder return initiatives—such as share buybacks and dividend growth—also contribute to the company’s momentum. However, some risks remain, including cash-flow volatility highlighted by a decline in free cash flow in 2025, limited near-term order book visibility and only moderate valuation support typical of cyclical energy-sector businesses.
More about Hunting
Hunting PLC is a global precision engineering company that provides specialised equipment and premium services to the energy industry. Headquartered in London with a corporate office in Houston, the group operates across North America, EMEA and Asia Pacific, among other regions. Listed on the London Stock Exchange, Hunting reports through five operating segments focused on delivering precision-manufactured products and services to oil and gas operators worldwide.
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