Weir Group (WEIR)

Sector:

Engineering

Index:

FTSE 100

1,801.00p
   
  • Change Today:
      11.00p
  • 52 Week High: 1,897.00
  • 52 Week Low: 1,328.50
  • Currency: UK Pounds
  • Shares Issued: 259.61m
  • Volume: 14,534
  • Market Cap: £4,675.61m
  • RiskGrade: 162

Weir reiterates FY guidance amid 'very strong demand'

By Iain Gilbert

Date: Wednesday 02 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Engineering company Weir Group reiterated its full-year guidance on Wednesday amid "very strong demand" for its mining equipment and spares.
Weir expects "strong growth" in constant currency revenue and profits, with operating margin expansion in line with prior guidance and an 80-90% free operating cash conversion.

The FTSE 250-listed stated it had seen "significant growth" in aftermarket orders and strong execution, with production trends and installed base expansion supporting group aftermarket order growth of 21%, while integrated solutions and small brownfield activity drove group original equipment order growth of 12%.

Weir also said it had experienced "good operating momentum" and pricing power, pushing third-quarter revenues "strongly" higher year-on-year as supply chain and logistics challenges began to ease and input cost inflation was mitigated.

Chief executive Jon Stanton said: "We also made good progress on our strategic growth initiatives, with increasing customer demand for our digital offerings and solutions for more sustainable mining.

"Moving into the fourth quarter, supply chain challenges are easing, we have strong operating momentum and a record order book. Our FY22 guidance for strong revenue and profit growth, operating margin expansion and 80-90% free operating cash conversion is unchanged."

As of 0820 GMT, Weir shares were up 0.66% at 1,602.50p.







Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Weir Group Market Data

Currency UK Pounds
Share Price 1,801.00p
Change Today 11.00p
% Change 0.61 %
52 Week High 1,897.00
52 Week Low 1,328.50
Volume 14,534
Shares Issued 259.61m
Market Cap £4,675.61m
RiskGrade 162

Weir Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.56% below the market average30.56% below the market average30.56% below the market average30.56% below the market average30.56% below the market average
41.18% above the sector average41.18% above the sector average41.18% above the sector average41.18% above the sector average41.18% above the sector average
Price Trend
47.37% above the market average47.37% above the market average47.37% above the market average47.37% above the market average47.37% above the market average
22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average
Income
57.16% below the market average57.16% below the market average57.16% below the market average57.16% below the market average57.16% below the market average
29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average
Growth
81.12% below the market average81.12% below the market average81.12% below the market average81.12% below the market average81.12% below the market average
51.52% below the sector average51.52% below the sector average51.52% below the sector average51.52% below the sector average51.52% below the sector average

What The Brokers Say

Strong Buy 5
Buy 6
Neutral 3
Sell 2
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Weir Group Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Oct-22 21-Apr-22
Paid 04-Nov-22 06-Jun-22
Amount 13.50p 12.30p

Trades for 02-Feb-2023

Time Volume / Share Price
08:31 22 @ 1,801.00p
08:31 5 @ 1,801.00p
08:31 22 @ 1,802.00p
08:31 22 @ 1,802.00p
08:31 132 @ 1,802.00p

Weir Group Key Personnel

CEO Jon Stanton
CFO John Heasley

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