Hunting revises 2026 EBITDA guidance downward to $138-141m after a $10m impact from a delayed KOC tender process.
Hunting PLC reported first-half non-GAAP earnings per share of $0.15 on revenue of $497 million, down 6% year-over-year. The decline reflects broader market conditions and operational challenges in the energy sector.
The company previously guided for second-half weighted earnings in 2026 but now expects a $10 million EBITDA impact from a delayed KOC tender process. This adjustment lowers 2026 EBITDA guidance to $138-141 million, slightly below earlier projections. Year-end cash reserves remain steady at $50-$60 million.
Working capital investments made in the first half are expected to unwind, supporting liquidity despite the revenue dip.