Hunting PLC is a precision engineering group established in 1874 and headquartered in London, with a corporate office in Houston. It is quoted on the London Stock Exchange under the ticker HTG in the Equity Shares in Commercial Companies category and reports in US dollars. The group operates in the United Kingdom, China, India, Indonesia, Mexico, Saudi Arabia, Singapore, the United Arab Emirates and the United States, and reports across five operating segments: Hunting Titan, North America, Subsea Technologies, EMEA, and Asia Pacific. A parallel set of five product groups - OCTG, Perforating Systems, Subsea, Advanced Manufacturing and Other Manufacturing - is used for revenue and EBITDA reporting, and non-oil and gas work contributed USD 38.0 million of revenue in the first half of 2026.
Perforating, connections and subsea equipment
Hunting Titan manufactures perforating guns and shaped charges, and the group reported on 23 September 2026 that the business had been ranked first preferred supplier in Kimberlite's North American land market survey for a second consecutive year. The premium connections business threads casing and tubing and introduced the HYPER-LOCK HELIX2 connection for extended-reach wells on 14 May 2026, while the Opti-TEK line of coiled tubing tools was extended with the HydraShock and HydraCut systems on 21 May 2026. Subsea Technologies supplies titanium stress joints, subsea spring components and flexible engineered fluid transfer systems for floating production vessels, work that the group expanded when it acquired Flexible Engineered Solutions in June 2025. Hunting also continues to commercialise Organic Oil Recovery, a microbial enhanced recovery technology; a master service agreement was signed with a customer in Brazil in the second quarter of 2026 with initial injections due in the second half, and further well test data was reported by operators in North America and the North Sea.
First-half 2026 results
Results for the six months ended 30 June 2026, published on 21 August 2026, showed revenue of USD 497.0 million against USD 528.6 million a year earlier and EBITDA of USD 62.1 million against USD 70.2 million, a margin of 12 percent. Adjusted profit before tax was USD 34.5 million and adjusted diluted earnings per share 15.2 cents. The sales order book stood at USD 386.5 million compared with USD 451.5 million at the same point in 2025, net assets were USD 863.1 million and return on capital employed was 9.1 percent. The group moved from net cash of USD 44.7 million to net debt of USD 51.4 million, after a USD 58.0 million working capital outflow driven by forward material purchases and higher receivables in Hunting Titan and Subsea Technologies. Perforating Systems and Subsea both grew, with international perforating sales into Australia, Argentina, Indonesia and Saudi Arabia, while OCTG, Advanced Manufacturing and Other Manufacturing declined; EMEA was affected by the absence of orders completed for Kuwait Oil Company in the first half of 2025. Guidance for 2026 EBITDA was cut to USD 138-141 million after Kuwait Oil Company indicated it would rerun an OCTG tender originally issued in April 2026, with any award not recognised in revenue before 2027.
Subsea orders and international markets
On 7 April 2026 Hunting announced orders worth USD 63.5 million for its titanium stress joint product line, for a new offshore development in Guyana, delivered by the Subsea Spring business unit through to May 2028 with revenue recognition from the second half of 2026. A further USD 4.4 million of related orders had been booked since December 2025 by the Stafford and Flexible Engineered Solutions units. The group held a dedicated subsea investor event in January 2026 to set out revenue and EBITDA guidance for that product group to 2028. In its outlook it points to FPSO and subsea spending in Brazil, Guyana and Suriname, to offshore activity in Angola and Namibia, to unconventional development in Argentina, and to growth from its Indian joint venture and a planned new facility on India's east coast.
Restructuring, footprint and shareholder returns
The EMEA restructuring is close to completion: facilities in the Netherlands and Norway have closed and the Fordoun plant in the United Kingdom was scheduled to close in September 2026, capturing annualised savings of about USD 11 million and returning the segment to profit from the second half of 2026. From January 2027 EMEA and Asia Pacific will be combined into a single International operating segment. A further cost programme announced in March 2026 targets USD 15 million of savings by the end of 2027 through shared service functions in Europe and North America and a review of selling, general and administrative costs. On capital returns, an interim dividend of 7.0 cents per share was declared, 13 percent above the 2025 interim dividend, and the board has projected annual dividend growth of 13 percent to the end of the decade. A second share buyback of USD 40 million began in March 2026 and runs to March 2028, by which point the company will have returned USD 100 million through two programmes.
Leadership and corporate information
Hunting announced on 1 June 2026 that chief executive Jim Johnson had given notice of his intention to retire as a director, and an international search firm has been appointed to find a successor. The group publishes its results, reports, presentations and regulatory announcements through its investor pages, along with a financial calendar and sustainability reporting, and its legal entity identifier is 2138008S5FL78ITZRN66. General enquiries are routed through the contact form on the company's website rather than a published general e-mail address; investor relations correspondence is directed to the address given in the group's regulatory releases.