Hardide (LSE:HDD) has won £2.4 million of new orders from a major customer operating in the North American energy sector, covering the remainder of the company’s financial year ending 30 September 2026. The contract value exceeds previous board expectations and has led management to improve its revenue and performance outlook for FY26.
The majority of the work will be delivered through Hardide’s Martinsville facility in the United States, alongside production from its UK operations. The company said recent operational improvements have enhanced its ability to support higher demand, while pricing surcharges introduced to offset raw material cost inflation are also contributing to performance. Hardide added that gas supply arrangements have now been secured through the remainder of FY26 and into the first half of FY27, supporting operational continuity as it strengthens its relationship with the customer and develops a more structured order pipeline for the following financial year.
The company’s outlook is primarily supported by improving financial performance, including a return to profitability and positive free cash flow generation, alongside constructive technical momentum with the share price trading above key moving averages. However, these positives are partly balanced by higher leverage levels, relatively thin operating margins and technically overbought trading conditions. Valuation remains supportive due to the company’s comparatively low price-to-earnings ratio.
More about Hardide
Hardide plc (LSE:HDD) is a UK-based specialist in advanced surface coating technology, developing and applying patented tungsten carbide and tungsten metal matrix coatings to engineering components. Its coatings are designed to extend component lifespan and improve performance in highly demanding environments. The company serves customers across sectors including energy, valve and pump manufacturing, industrial gas turbines, precision engineering and aerospace.
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