13th Jan 2026 10:08
(Alliance News) - Hunting PLC on Tuesday said it expects to report a rise in 2025 profit, and it predicted further growth in 2026 and upped a more forward-looking outlook at one division.
The London-based supplier of equipment to the oil and gas industry expects to report 2025 earnings before interest, tax, depreciation, and amortisation of around USD135 million, a rise of 7% on-year. It predicts "another year of growth" in 2026, putting its Ebitda forecast range at USD145 million to USD155 million.
Hunting's said its year-end sales order book stood at USD350 million.
Chief Executive Jim Johnson said: "2025 has seen further delivery of our Hunting 2030 strategy and we are well placed to deliver another year of growth as we enter 2026, despite wider market headwinds.
"With our revised capital allocation priorities announced in July 2025, our shareholder returns increased during the year whilst retaining our financial flexibility to pursue earnings enhancing acquisitions. This is due to our strong focus on balance sheet efficiency and strength."
Johnson said the Subsea Technologies unit is "poised for growth in the medium-term". The unit has short-term tender pipeline opportunities for 2026 of around USD300 million.
Subsea Technologies, which provides services in development, installation, offshore support and decommissioning, will now achieve an "increasing contribution" to Hunting's 2030 revenue ambition.
The target for Subsea Technologies annual sales in has been raised to USD470 million by the end of the decade from USD250 million.
"Our integrated and enlarged subsea offering means that we can now offer customers a more comprehensive range of products. As a result of this, we are today raising our guidance for Subsea Technologies revenue," CEO Johnson said.
The firm added: "Hunting 2030 financial ambitions of revenue of [around] USD2 billion, at an Ebitda margin of 15% or greater remain unchanged."
Hunting shares rose 0.6% to 396.00 pence each in London on Tuesday morning.
By Eric Cunha, Alliance News news editor
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