Hunting (HTG) Q4 2025 TU earnings summary

Executive summary

• EBITDA rose 7% year-over-year to approximately $135 million, with margin improving to 13% from 12%.

• Year-end sales order book reached about $350 million, driven by large completions for KOC and Exxon.

• Subsea Technologies segment is a key growth driver, with revenue targets raised to $470 million per annum by 2030.

• Acquisitions of FES and OOR businesses completed; divestment of Rival Downhole Tools finalized to focus on higher-return areas.

Financial highlights

• Group EBITDA of ~$135 million, up 7% year-over-year; EBITDA margin at 13% versus 12% prior year.

• Cash and bank/borrowings at $59–$61 million at year-end, after $138 million in outflows for acquisitions, dividends, and buybacks.

• $33.5 million of $60 million share buyback completed by year-end.

Outlook and guidance

• 2026 EBITDA expected between $145 million and $155 million, indicating continued organic growth.

• Capital expenditure for 2026 projected at $40–$50 million.

• Free cash flow expected to be about 50% of EBITDA.

• Dividend growth set at 13% per annum through 2030.