The Weir Group PLC

Equities

WEIR

GB0009465807

Industrial Machinery & Equipment

Real-time Estimate Cboe Europe Other stock markets 03:14:24 2024-05-22 am EDT			5-day change	1st Jan Change
2,168 ^GBX	0.00%		+3.53%	+14.92%

08:56am	M&S has "wind in our sails"; Severn Trent profit up	AN
May. 17	Redburn Initiates Weir Group with Neutral Rating	MT

Weir targets 20% operating margin for 2026

December 06, 2023 at 03:24 am EST

(Alliance News) - Weir Group PLC on Wednesday announced a 20% operating margin target for 2026.

Ahead of its capital markets' event on Wednesday, the London-based speciality chemicals and sustainable technology firm upgraded its savings target to GBP60 million for 2026, from its previous GBP30 million aim.

Weir added that its 2023 guidance remains unchanged, and is on track to deliver an operating margin of 17% for the full year.

Chief Executive Officer Jon Stanton said: "I am confident and excited to move into this next phase, with our margin expansion journey well underpinned. Strong structural growth trends in our markets, the benefits of our resilient compounding business model and opportunities from our Performance Excellence transformation programme mean we are well-placed to deliver excellent outcomes for all stakeholders as a focused mining technology leader."

Shares in Weir rose 3.9% to 1,937.00 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	BIST 30	11,997 PTS	+0.34%	+8.24%	-
	THE WEIR GROUP PLC	2,168 GBX	0.00%	+3.53%	7.11B

Latest news about The Weir Group PLC

M&S has "wind in our sails"; Severn Trent profit up	02:56am	AN
Redburn Initiates Weir Group with Neutral Rating	May. 17	MT
Jefferies says buy Tritax Big Box post merger	May. 17	AN
Weir appoints former Spirax-Sarco CEO Anderson to board	May. 15	AN
The Weir Group plc Announces Board Changes	May. 15	CI
The Weir Group plc Approves Final Dividend	Apr. 25	CI
Weir Group to meet annual expectations as quarterly output ticks up	Apr. 25	AN
Transcript : The Weir Group PLC, Q1 2024 Sales/ Trading Statement Call, Apr 25, 2024	Apr. 25
Weir Group Records Higher Q1 Orders, Affirms Outlook	Apr. 25	MT
The Weir Group plc Provides Earnings Guidance for the Year 2024	Apr. 25	CI
UBS Downgrades Weir to Neutral from Buy, Reduces PT	Mar. 20	MT
UBS raises Halma; cuts Spirax-Sarco and Weir	Mar. 20	AN
FTSE 100 Closes Down 0.4% After Rise in U.S. Inflation Data	Mar. 14	DJ
UK's Weir Group Launches New Foundry in China	Mar. 13	MT
Weir opens USD60 million high-tech foundry in China	Mar. 13	AN
The Weir Group PLC Opens New Foundry in China	Mar. 13	CI
Jefferies says buy BP; UBS says buy Compass	Mar. 04	AN
FTSE 100 Edges Higher on Leap Day, Boosted by Howden Joinery, Haleon Gains	Feb. 29	DJ
Weir lifts dividend as annual profit and revenue surge	Feb. 29	AN
Transcript : The Weir Group PLC, 2023 Earnings Call, Feb 29, 2024	Feb. 29
Weir Group Posts Higher FY23 Attributable Profit, Revenue	Feb. 29	MT
The Weir Group PLC Provides Earnings Guidance for the Year 2024	Feb. 29	CI
The Weir Group PLC Recommends Final Dividend for the Year 2023, Payable on 31 May 2024	Feb. 29	CI
The Weir Group PLC Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 29	CI
EMEA Morning Briefing : Stocks Seen Higher Ahead of U.S. PCE Inflation Data	Feb. 29	DJ

Chart The Weir Group PLC

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Company Profile

The Weir Group PLC is one of the world's leading suppliers of products and services for the mining, infrastructure and construction industries. Net sales break down by activity as follows: - mining and mineral processing equipment (72%): crushing and grinding equipment, pumps, valves, handling equipment, etc. marketed under the Warman® Centrifugal Slurry Pumps, GEHO® Positive Displacement Pumps, Enduron® High Pressure Grinding Rolls, Cavex® Hydrocyclones and Linatex® Resistant Rubber brands; - ground engaging tools and equipments (28%): ESCO and Bucyrus Blades brands. Net sales break down by source of revenue between sales of aftermarket parts (73.9%), sales of original equipment (18.4%), sales of services (5.7%) and other (2%). Net sales are distributed geographically as follows: the United Kingdom (1.4%), Europe (7.3%), South America (21.9%), the United States (16.9%), Canada (15.3%), Australasia (13.6%), Middle East and Africa (11.9%) and Asia/Pacific (11.7%).

Sector

Industrial Machinery & Equipment

Calendar

2024-07-29 - Q2 2024 Earnings Release (Projected)

Related indices

STOXX EUROPE 600 (EUR) , FTSE 100

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Ratings for The Weir Group PLC

Trading Rating

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ESG Refinitiv

A-

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

21.68 GBP

Average target price

22.57 GBP

Spread / Average Target

+4.11%

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