Shares of Weir Group, the Glasgow-based global mining and engineering FTSE 100 firm, fell as much as 7% after it published a trading update for the third quarter ended September 30, 2026.
“Good order momentum; on track to deliver in line with current market expectations,” said Weir.
However, the Glasgow firm added: “Actively monitoring macro and sectoral risk stemming from Middle East conflict and Chilean mine disruptions.”
Weir reported group orders up 8% including acquisitions with “good underlying demand as customers drive production despite mine disruptions and Middle East impacts.”
The firm reported “positive OE (Original Equipment) project pipeline momentum, particularly in North and South America, with group Aftermarket (AM) orders up 10% amid “positive mine activity levels, notably gold, copper and oil sands.”
Weir said: “Minerals AM +7% (+£23m) – healthy demand despite short-term headwinds; organic AM +5% …
“Group Original Equipment (OE) orders +3%; Continued brownfield momentum …
“Minerals OE +6% (+£7m) – good pipeline conversion with delays pushing some larger projects into Q4 …
“ESCO OE -24% (-£3m) – phasing of large bucket and truck body orders following strong H1 …
“FY Outlook: Strong orderbook, focus on execution and delivery in Q4 …
“Positive underlying demand expected to continue in a supportive commodity environment
“Minerals production transfers nearing completion with focus on delivery of large AM backlog in Q4 2026
“Actively monitoring macro and sectoral risk stemming from Middle East conflict and Chilean mine disruptions.”
Weir Group CEO Andrew Neilson said: “Our performance in the third quarter reflects good underlying momentum in our core mining markets, with customers looking to maximise production in a supportive commodity environment.
“In my first three months as CEO, I am encouraged by our customers’ appetite to expand their partnerships with Weir across their operations to deliver the growth in production and efficiency improvements they need.
“As we look to the remainder of the year, mindful of specific geopolitical events which are adding shorter-term headwinds for the sector as a whole, our current pipeline and orderbook reflects a high level of underlying demand for our products.
“Our focus is now on delivering our large aftermarket backlog in Q4 and we remain on track to deliver in line with current market expectations for 2026.
“Looking further ahead, I am excited about the opportunity Weir has into the medium and long term. As a mining technology leader, we are well positioned to continue to drive strong growth and deliver further operational efficiencies, generating value for all our stakeholders.
“Underpinned by a multi-decade market opportunity driven by demand for critical metals and our resilient business model, our strong cash generation and balance sheet position us to deliver compounding growth in total shareholder returns.”