Hunting PLC

European stocks were subdued on Wednesday as escalating Middle East tensions overshadowed upbeat earnings results from companies including ASML Holding and Richemont. The pan-European STOXX 600 was marginally lower at 641.80 after rising 0.2 percent on Tuesday, while the German DAX dipped 0.6 percent and the UK's FTSE 100 slid 0.2 percent. ASML Holding surged over 4 percent after the Dutch chip equipment supplier lifted its annual sales forecast for the second time this year due to surging AI spending. Swiss luxury group Richemont soared 5.7 percent after reporting better-than-expected quarterly sales, helped by booming demand for its jewelry business. Other notable movers included Dr. Martens rising 1.3 percent after backing its annual outlook, Hunting jumping 5 percent on solid first-half trading, and B&M European Value Retail slumping 4.5 percent on modest first-quarter sales growth.

Hunting PLC reported first-half EBITDA of approximately $62 million, in line with its guidance. The company said this result is consistent with the 40:60 phasing of full-year earnings guidance issued in March 2026. Hunting maintained its 2026 full-year EBITDA guidance of between $145 million and $155 million, with EBITDA margin guidance unchanged at approximately 13% to 14%. Chief Executive Jim Johnson noted continued strong momentum in the Subsea and Perforating Systems businesses. The company will announce its half-year results on 21 August 2026.