- Hunting hikes 2024 Ebitda guidance again
- Increase in shareholder payouts likely
Hunting (HTG) has upgraded its profit outlook again, as orders and sales come in thick and fast for its energy equipment and services. Full-year Ebitda guidance is now $134mn-$138mn (£105mn-£108mn), a third ahead of 2023. The company is also confident enough in its order book to tell investors its cash profit would be $160mn-$175mn next year.
The first-half performance was driven by better sales in its piping, subsea and advanced manufacturing units. The outlook is for more growth thanks to a record order book of $700mn, one-third of which comes from Kuwait Oil Company. First-half cash profits will be around $60mn, the company said, with further rises to come in the second half due to "cost reduction measures”.