Hunting PLC on Thursday said ongoing restructuring has disrupted trading, leading to a lower anticipated annual outturn.
The London-based supplier of equipment to the oil and gas industry now expects 2025 earnings before interest, tax, depreciation and amortisation at the lower end of its prior guidance range of $135 million to $145 million, thought still up from $126.3 million in 2024.
But analysts at Jefferies pointed out that, with consensus at $137 million, ‘much of that seems already captured and speaking to the company, improvement year-on-year into 2026 remains the expectation.’
As a result, shares in Hunting rose 3.2% to 340.50 pence each in London on Thursday.
Hunting said Ebtda rose 15% year-on-year to $100.5 million in the first nine months of 2025, with an Ebitda margin of 13% recorded.
The Hunting Titan division is trading in line with expectations and well ahead of the same period in 2024 as improvements to financial performance are delivered, the company said, while the North America operating segment is performing ‘marginally’ ahead of expectations.
Subsea trading is in line with expectations in the year-to-date, with a robust market outlook to 2028, while Asia Pacific is also trading in line with expectations.
Restructuring in Europe, Middle East & Africa continues with management on track to deliver annualised cost savings of $11 million by June 2026.
But Hunting said the restructuring has disrupted trading to certain businesses within the region, leading to the lower expected group result.
In August, Hunting said it was relocating its Fordoun oil country tubular goods facility in Scotland as part of the restructuring announced earlier in the year.
In January, the firm said that a facility consolidation and cost reduction plan was required to restore profitability to the EMEA region, focusing future investment and capital into growth regions including the Middle East and Africa.
It said rationalisation of the group’s European operating footprint was required to ensure long-term profitable operations.
Copyright 2025 Alliance News Ltd. All Rights Reserved.