Weir Group Reports Q1 Order Decline, Leadership Transition Announced
Weir Group experienced a 3% decline in total order intake for Q1, impacting share prices significantly. Despite this, the firm maintains its annual growth projections amid a strong pipeline of mining projects.
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Weir Group reported a 3% decline in total order intake for the first quarter ended March 31, leading to a drop in shares by 7% to 2,560 pence. The company's minerals division, which represents over 71% of revenue, experienced similar declines, influenced by order phasing and disruptions in Asia-Pacific and Africa.
Weir anticipates mid-single-digit organic revenue growth in 2026 and a 50-basis-point increase in operating margin. CEO Jon Stanton will be succeeded by Andrew Neilson on August 1, 2026, as the firm continues to address strong demand for critical minerals. The ongoing geopolitical tensions may still pose risks to operational stability.
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