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Weir Group (WEGRY) Q2 2026 Earnings Report
WEGRY Q2 2026 EPS Results
- Actual EPS
- $0.34
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- $0.28
WEGRY Q2 2026 Revenue Results
- Actual Revenue
- $1.71B
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +10.19%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 07/29/2026
- Time
- Before Open
- Conference Call
- Wednesday, July 29, 2026
Weir Group's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
The call presents a predominately positive outlook: H1 order momentum (orders +8% CC, OE +10%), a strong H2 order book (book-to-bill 1.12), product and software wins, and clear targets to recover margins (>20% FY) and cash conversion (90%–100% FY). Near-term challenges include production transfer disruptions that deferred deliveries and pressured H1 margins and cash (free operating cash conversion 41%), elevated net debt/EBITDA (2.2x) and modest pricing pressure. Management expects these H1 effects to reverse in H2, supporting full-year guidance.
The company reiterated full‑year guidance to deliver constant‑currency growth in revenue, operating profit and margins, targeting operating margins sustainably above 20% (H1 was 18.8%, down 100bps) and confirming the GBP 90m cumulative Performance Excellence savings target; it expects free operating cash conversion of 90–100% for the full year (versus 41% in H1), net debt/EBITDA (currently 2.2x) to move back toward the 0.5–1.5x covenant range by year‑end, Micromine ARR growth of >25% for 2026, and proposed an interim dividend of 20p (up 2%), supported by a strong order book (book‑to‑bill 1.12 and H1 order book up ~GBP 150m).
- Strong Order Growth and Book-to-BillOrders grew 8% year-on-year on a constant currency basis; original equipment (OE) orders +10% and aftermarket orders +8%. Q2 aftermarket organic orders in Minerals were up 8% year-on-year. Book-to-bill was 1.12 and the order book increased by circa GBP 150m in H1.
- Revenue GrowthGroup revenue increased 5% on a constant currency basis to GBP 1.3bn in H1 2026. Minerals revenue rose 3% to GBP 900m and ESCO revenue increased 11% to GBP 369m.
- Segment Profitability and Momentum (ESCO)ESCO operating profit increased 17% to GBP 79m and operating margins improved 120 basis points to 21.5%, supported by contributions from Micromine, Fast2Mine and ESEL.
- Performance Excellence & Margin OutlookAdjusted operating margin was 18.8% in H1 (100 bps down vs prior year) but management expects to sustain margins above 20% for the full year, underpinned by delivery of Performance Excellence savings (GBP 90m cumulative target) and reversal of H1 headwinds.
- Cash Conversion Guidance and DividendFree operating cash conversion was 41% in H1 (impacted by working capital build and LTIP share purchases) but the company expects 90%–100% cash conversion for the full year. Proposed interim dividend of 20p per share, a 2% increase year-on-year.
- Product and Technology InnovationNew products and validated performance: MCR squared mill circuit pump delivering ~20% operational efficiency improvement vs prior offering (protected by 8 patents); Vertasys GET showed ~15% wear-life improvement in trials; Optimil VSM has received 10 orders and, combined with Enduron HPGR, can deliver up to ~40% energy savings versus traditional comminution technologies.
- Software Progress — MicromineMicromine on track to deliver annual recurring revenue (ARR) growth >25% in 2026; qualified pipeline from warm introductions increased ~300% in the last six months; recurring license adoption increasing and voluntary employee retention >90% in the software team.
- Market Position and Competitive WinsMinerals mill circuit pumps retain >50% market share; company won >2/3 of new large pump tenders and achieved >90% success rate in pump trials (e.g., 13 of 14 campaigns). ESCO won over 100 net major digger conversions, up nearly 40% year-on-year.
- Sustainability and Safety RecognitionCDP awarded an A score for climate transparency for the fourth consecutive year; recognized by CCLA in Tier 1 for employee mental health and wellbeing (6th among largest UK companies); total incident rate stable with fewer first-aid cases and lower severity rates.
WEGRY Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | ―- | 0.35 | ― | ― |
| Jul 29, 2026 | 2026 (Q2) | ―0.34 | 0.28 | 18.37% (+0.05) | |
| Mar 04, 2026 | 2025 (Q4) | ―0.35 | 0.49 | -28.19% (-0.14) | |
| Jul 31, 2025 | 2025 (Q2) | ―0.28 | 0.29 | -1.05% (-0.00) | |
| Feb 28, 2025 | 2024 (Q4) | ―0.49 | 0.25 | 98.78% (+0.24) | |
| Jul 30, 2024 | 2024 (Q2) | ―0.29 | 0.3 | -4.98% (-0.01) | |
| Feb 29, 2024 | 2023 (Q4) | ―0.25 | 0.27 | -10.22% (-0.03) | |
| Aug 01, 2023 | 2023 (Q2) | ―0.30 | 0.23 | 30.30% (+0.07) | |
| Mar 01, 2023 | 2022 (Q4) | ―0.27 | 0.2 | 35.64% (+0.07) | |
| Jul 28, 2022 | 2022 (Q2) | ―0.23 | 0.2 | 12.68% (+0.03) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
