Weir Group PLC (STU:42W)

Half Year 2026 Weir Group PLC Earnings Call Transcript

Jul 29, 2026 / 07:00 AM GMT

Release Date Price: €32 (+8.11%)

Transcript

Key Points

Positve

Strong order growth of 8% year-on-year on a constant currency basis, driven by a 10% increase in original equipment orders and an 8% rise in aftermarket orders.
Successful market share gains in pumps, winning over two-thirds of new large pump tenders and over 90% of competitive mill pump trials.
Launch of innovative new products like the MCR2 mill circuit pump and Optimil Vertical Stirred Mill, which enhance efficiency and are protected by patents.
ESCO division delivered a strong performance with 10% order growth, 11% revenue growth, and a 120 basis point improvement in operating margins to 21.5%.
Micromine software acquisition is on track to deliver over 25% growth in annual recurring revenue, supported by a 300% increase in the qualified pipeline from cross-selling.

Negative

Operating margins decreased by 100 basis points to 18.8% due to mix effects and production transfer delays in the minerals division.
Revenue growth was partially offset by delivery deferrals caused by complex production transfers within the Performance Excellence program.
Free operating cash conversion was low at 41%, impacted by increased working capital for order book delivery and share purchases for LTIP awards.
Net debt to EBITDA rose to 2.2 times due to cash flow phasing and acquisition-related spending, though expected to normalize by year-end.
Minerals division experienced a 5% decline in operating profit and a 170 basis point margin reduction due to unusual demand patterns and production inefficiencies.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WEIR.L - Weir Group PLC
Half Year 2026 Weir Group PLC Earnings Call
Jul 29, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and many thanks for joining the call today to discuss our results for the first half of 2026.

Before we start, I'd like to draw your attention to the usual cautionary notice on forward-looking statements.

We have a lot to share today, but before we dive into our results for the half, I'd like to hand you over to Andrew Nielsen, who will be taking over the reins as CEO next week to say a few words.

After we hear from Andrew, I'll start with some of the key highlights of the first half performance and the progress that we've made against our key strategic priorities.

Brian Puffer, our CFO, will then run through the numbers in more detail and finish our outlook, after which I'll

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