Hunting PLC Cuts FY2026 EBITDA Guidance to $128M-$133M on Middle East Conflict Impact

Hunting PLC (HTG.L) lowered its fiscal 2026 EBITDA outlook to $128 million-$133 million from a prior range of $138 million-$141 million, citing the prolonged Middle East conflict and weaker trading across other markets. The precision engineering firm reported year-to-date EBITDA of about $89 million at a roughly 12% margin. CEO Jim Johnson said long-term market fundamentals remain robust, including strong results in Subsea-focused businesses, but the "protracted and deepening" Middle East conflict hurt third-quarter results and the short-term outlook into the fourth quarter. OCTG and other product line tender activity in the region remains challenged by logistical issues and continued attacks on shipping and regional infrastructure, while rig activity in Saudi Arabia has declined. Hunting recorded fiscal 2025 EBITDA of $135.7 million. The company now projects fiscal 2026 capital expenditure of about $35 million-$45 million and will issue its next trading update on January 19, 2027.