Weir PLC (LSE:WEIR) reported an 8% year-on-year increase in third-quarter 2026 orders on a constant currency basis, including acquisitions, supported by demand across its mining equipment and aftermarket businesses.
The engineering group maintained its full-year guidance, expecting revenue and operating profit growth in line with current market expectations and an operating margin above 20%.
Aftermarket and Equipment Orders
Group aftermarket orders increased 10% year-on-year, while original equipment orders rose 3%.
Within the Minerals division, aftermarket orders grew 7%, equivalent to £23 million, including organic growth of 5%. Original equipment orders increased 6%, or £7 million, although several larger projects were delayed into the fourth quarter.
ESCO aftermarket orders rose 14%, representing an additional £26 million, supported by mining ground-engaging tools and software solutions. Organic aftermarket growth reached 10%.
ESCO original equipment orders declined 24%, or £3 million, reflecting the timing of large bucket and truck body orders following the first half.
The group’s year-to-date book-to-bill ratio reached 1.10, indicating that orders exceeded revenue during the first nine months.
Mining Activity and Operational Developments
Weir reported increased demand from gold, copper and oil sands customers, while operations in Chile were affected by extreme weather during July and August.
The company also identified reduced phosphate demand linked to the Middle East conflict, with phosphate customers accounting for approximately 4% of group revenue.
Production transfers within the Minerals division were largely resolved during the quarter, bringing cumulative savings under the Performance Excellence programme to £80 million.
Weir maintained its target of £90 million in cumulative savings by the end of 2026.
Debt and Financial Expectations
Weir expects year-end net debt to exceed slightly its normal operating range of 0.5 to 1.5 times EBITDA.
Management anticipates returning to that range during 2027 and forecasts approximately £90 million in net interest expenses for 2026.
The company continues to expect full-year operating margins above 20%, alongside revenue and operating profit growth in constant currency.
Outlook and Market Conditions
Weir said its fourth-quarter priorities include fulfilling its aftermarket order backlog and completing production transfers within the Minerals business.
The company continues to monitor risks associated with the Middle East conflict, international freight availability and the recovery of mining operations in Chile.
Management reaffirmed its expectations for 2026, while identifying geographic expansion, product development and acquisitions as areas of focus over the medium term.
More About Weir
Weir PLC is a global mining technology and engineering company supplying equipment, aftermarket components and digital solutions to the mining industry. The group employs approximately 12,000 people across more than 50 countries.
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