By Maitane Sardon

Shares in Weir Group slumped after the U.K. engineering company posted lower original equipment orders due to tough prior-year comparatives.

Shares were 3% lower at 2,796 pence in early morning trade Wednesday.

Weir said Wednesday that total group orders increased 2% at constant currency in the three months ended Sept. 30. Group original equipment orders excluding large orders in the prior year grew by 15%, it said. Meanwhile, group original equipment orders including large orders decreased by 21% during the quarter, the company said.

Group aftermarket orders grew by 10% in the quarter, reflecting 5% underlying organic growth from spare parts and expendables and a further 5% growth delivered by the Micromine and Townley acquisitions, Weir said.

Excluding the impact of large orders last year the company delivered a good performance, but whether the market will look through that remains to be seen, Jefferies analyst Andrew Douglas said in a research note.

Overall, the company's narrative is robust, the analyst said. The ESCO division--which makes engineered wear parts and components for the mining, construction and industrial sectors--had a strong quarter, the group book-to-bill remains above 1.0x, and management reiterated its 2025 guidance, he added.

For the full year, Weir said it continues to expect growth in constant currency revenue and operating profit, operating margins of around 20%, and a free operating cash conversion of 90% to 100%.

Write to Maitane Sardon at maitane.sardon@wsj.com

(END) Dow Jones Newswires

November 05, 2025 04:11 ET (09:11 GMT)

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