By Christian Moess Laursen

Hunting PLC, a leading energy-services group, announced that its nine-month earnings nearly doubled compared to the previous year. Additionally, the company revealed that it has secured a substantial $59-million order.

Impressive Third-Quarter Performance

Hunting PLC reported that its earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter stood at approximately $26.3 million, matching the previous quarter's figure. This brings the total EBITDA for the nine-month period to $75 million, a significant increase from the previous year's $36 million.

Steadfast Full-Year Outlook

Despite market uncertainties, Hunting PLC remains confident in achieving its full-year target EBITDA range of $96 million to $100 million. The company expects strong international demand for oil and gas to persist, driven by a focus on energy security and global economic growth.

Financial Highlights

During the third quarter, total borrowings increased to $68 million from $51.7 million. Despite this rise, Hunting PLC anticipates a break-even scenario by year-end and expects its borrowings to unwind accordingly.

$59 Million Order Secured

Hunting PLC also disclosed that it has received a substantial order worth $59 million for its titanium stress joints from a South American client. The order will be fulfilled over the next 28 months, with revenue recognized incrementally during that period.

Hyundai Motor Reports Strong Third-Quarter Performance

Heathrow Airport Sees Rise in Revenue and Passenger Numbers

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

China's Consumer Prices Fall for the First Time in Over Two Years
News

China's Consumer Prices Fall for the First Time in Over Two Years

China's consumer prices dropped by 0.3% in July, driven by lower food prices and a significant decline in pork prices. N...

Spectrum Brands to Release Fiscal Third-Quarter Results
News

Spectrum Brands to Release Fiscal Third-Quarter Results

Spectrum Brands is set to announce its fiscal third-quarter results, with projections for sales, adjusted earnings, and...

Oil Prices Rebound After Hitting Four-Month Lows
News

Oil Prices Rebound After Hitting Four-Month Lows

Oil prices recover after hitting four-month lows, driven by modest gains in Brent Crude and West Texas Intermediate. U.S...

Vinci Reports Increase in First-Half Earnings
News

Vinci Reports Increase in First-Half Earnings

Vinci, the French infrastructure company, has announced a positive financial performance for the first half of the year,...