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Hunting (HTG) investor relations material

Hunting H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary28 Aug, 2025

Executive summary

  • Revenue increased 7% year-over-year to $528.6m, with EBITDA up 16% to $70.2m and EPS up 26%, reflecting strong operational execution, strategic acquisitions, and cost savings.

  • Completed two strategic acquisitions—Flexible Engineered Solutions ($65m) and Organic Oil Recovery ($18m)—expanding product offerings and margin profile.

  • Divested $13m in low-margin assets, implemented restructuring, and achieved significant cost savings, especially in EMEA.

  • Free cash flow improved to $66.2m, supporting a $40m share buyback and increased dividends, with a 13% interim dividend growth to 6.2 cents per share.

  • Secured $69m in new subsea orders and $46m in titanium stress joint orders, with a sales order book at $473m as of July 2025.

Financial highlights

  • Revenue up 7% year-over-year to $528.6m, led by OCTG and subsea, with EBITDA margin at 13% and gross margin over 28% in key segments.

  • Adjusted diluted EPS increased 26% to 19.6 cents; interim dividend up 13% to 6.2 cents.

  • Free cash flow at $66.2m; net cash position at $44.7m as of June 2025.

  • Working capital to revenue ratio improved to 34%, with inventory reduced to $262m.

  • Return on capital employed rose to 10.5–11%, targeting 15% through accretive M&A and margin expansion.

Outlook and guidance

  • Full-year EBITDA guidance maintained at $135m–$145m, with 12–13% margin and effective tax rate 25–30%.

  • Capex expected at $35m–$40m; free cash flow targeted at 50%, with year-end cash expected at $65m–$75m pre-buyback.

  • Tender pipeline exceeds $1bn, with new subsea and advanced manufacturing opportunities and large OCTG tenders expected in H2.

  • Subsea market expected to rebound in 2026 and beyond, with over 300 trees projected and 40–50 FPSOs coming online globally.

  • Continued focus on cost discipline, international growth, and energy transition opportunities, especially in geothermal and natural gas.

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Frequently asked questions

Hunting PLC is an upstream oilfield service provider and manufactures products for the upstream oil and gas industry. Its products include perforating guns and hardware, energetics charges, and instrumentation products; connections, oil country tubular goods, drilling tools and subsea equipment, intervention tools and electronics. Hunting PLC was founded in 1874 and is headquartered in London, the United Kingdom.

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