Weir Group Stock Earnings Reports

Weir delivered a strong H1 2025: orders rose 8% to GBP 1.3bn and revenue grew 4% (constant currency) as aftermarket activity remained robust, particularly in copper and gold. Operating profit increased 17% to GBP 237m and group operating margin expanded 220bps to 19.8%, prompting upgraded full‑year margin guidance to circa 20%. Free operating cash conversion was 62% in H1, with guidance of 90–100% for the full year as working capital normalises. Management reiterated strategic targets: mid‑to‑high single‑digit compound revenue growth through the cycle, sustainably >20% operating margins (from 2026), strong cash conversion and disciplined bolt‑on M&A. 2025 inorganic moves include the Micromine acquisition (digital/software), a strategic equity investment in CiDRA (separation technology) and the pending Townley buy (US foundry/manufacturing) — all expected to be EPS accretive and ROIC‑accretive versus WACC by 2028. Net debt/EBITDA stepped to ~2x after Micromine as planned, with refinancing actions taken to extend maturities and an expectation to be below 2x by year‑end post Townley. Performance Excellence remains central: cumulative savings target of GBP 80m by 2026 (GBP 50m in 2025) and further margin upside from operational efficiencies. Market backdrop: continued brownfield aftermarket strength and early signs of OE pipeline recovery (permitting improvements in the U.S. and Chile), supporting an outlook of revenue and profit growth for the year.