Hardide (LSE:HDD) has won a further £1.8 million in orders from a key customer in the North American energy market, prompting the company to raise its revenue outlook for the current financial year ending 30 September 2026.
The majority of the new work is scheduled for delivery within the ongoing financial year. Alongside the order intake, Hardide said discussions are underway with the customer regarding a potential long-term framework agreement and structured supply programme aimed at supporting future demand and business expansion.
The additional contracts have led the board to anticipate a material improvement in both revenue and overall performance compared with earlier forecasts. Management believes the increased activity will accelerate progress toward its strategic objective of at least doubling 2024 revenues ahead of schedule.
Higher production volumes are also expected to drive improved capacity utilisation across operations, strengthening both operational efficiency and financial performance as the company continues to expand its presence in energy-sector coatings.
Hardide’s outlook is supported by improving financial momentum following a turnaround in FY2025 that delivered positive profitability and free cash flow, alongside strong upward technical trading indicators. However, the investment case remains balanced by a high price-to-earnings valuation and increased leverage on the balance sheet, leaving limited margin for operational setbacks.
More about Hardide
Hardide plc is a UK-based advanced materials company specialising in surface treatment technologies. The group develops and applies patented tungsten carbide and tungsten metal matrix coatings designed to enhance durability and resistance to abrasion, erosion and corrosion in engineering components. Its solutions are used by customers across the energy, valve and pump, industrial gas turbine, precision engineering and aerospace sectors, helping extend component lifespan, improve efficiency and reduce environmental impact.
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