Weir Q1 orders rise on stronger mining project activity
By Iain Gilbert
Date: Thursday 30 Apr 2026
(Sharecast News) - Engineering firm Weir said on Thursday that first‑quarter order growth had been supported by rising investment in brownfield and greenfield mining projects as supply deficits in key metals emerged.
Weir said group original‑equipment orders rose 1%, with management noting stronger underlying demand masked by order‑phasing effects, while aftermarket orders increased 4%, boosted by continued strength in minerals and ESCO and a 7% contribution from recent acquisitions. Total group orders were up 4% year‑on‑year on a constant‑currency basis, with a book‑to‑bill ratio of 1.14.
The FTSE 100-listed firm also highlighted that it had begun to realise benefits from capacity‑optimisation work completed in 2025, taking cumulative savings under its Performance Excellence programme to £66m.
Looking ahead, Weir said cash generation was in line with expectations and reiterated its full-year guidance for constant‑currency growth in revenue, operating profits and margins, with cash conversion of 90-100% and a second‑half weighting.
Separately, Weir announced that, following ten years in the role and 16 years with the group, Jon Stanton will step down as chief executive on 1 August and will be succeeded by Andrew Neilson, who joined the firm in 2010 and currently serves as president of its minerals division.
Stanton said: "During the first quarter, the group executed strongly against our strategic growth agenda, completing the acquisition of ESEL and integrating at pace those acquisitions completed last year. Against a backdrop of growing geopolitical tensions, our strong operational platform is delivering for our customers, with limited impact to our global supply chain.
"Looking ahead to the full year, we remain focused on disciplined execution despite several challenges facing the mining industry, not least rising uncertainty as to potential impacts from conflict in the Middle East. With supportive commodity prices driving demand for expansions and high underlying activity levels, we expect orders to develop very positively through the year and reiterate our full year guidance for growth in constant currency revenue and operating profit."
Reporting by Iain Gilbert at Sharecast.com
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