Hardide lifts first-half revenues over 50% as new contracts boost outlook

An update from Hardide ( (GB:HDD) ) is now available.

Hardide plc reported strong year-to-date trading, expecting first-half FY26 revenues of about £4.5m, more than 50% higher than a year earlier, and EBITDA of around £1.3m with operating margins near 20%, driven by a series of contract wins including new production work for a major North American energy customer. The company has begun production coating cargo door components for freight aircraft under an aerospace contract, received its first repeat turbine blade coating order for the power generation sector, and is progressing development projects with a potential major new Middle Eastern energy customer and a framework agreement with a key North American client, leaving the board confident the group is well placed to meet its recently upgraded full-year expectations.

These developments diversify Hardide’s revenue base across energy, aerospace and power generation, reduce reliance on any single region and underscore growing adoption of its coating technology in critical applications. The absence of material disruption in the Middle East, modest and partly fixed energy costs, and the move to longer-term supply frameworks with large customers all support improved visibility of earnings and strengthen the company’s competitive position in its niche industrial coatings market.

The most recent analyst rating on (GB:HDD) stock is a Hold with a £35.00 price target. To see the full list of analyst forecasts on Hardide stock, see the GB:HDD Stock Forecast page.

Spark’s Take on HDD Stock

According to Spark, TipRanks’ AI Analyst, HDD is a Neutral.

The score is driven primarily by improving financial performance in FY2025 (profitability inflection and positive free cash flow), supported by a strong uptrend in the share price. These positives are tempered by an expensive valuation (very high P/E), thin margins, and increased leverage, which raise downside risk if growth or execution weakens.

To see Spark’s full report on HDD stock, click here.

More about Hardide

Hardide plc is a UK-based provider of advanced surface coating technology, developing, manufacturing and applying patented tungsten carbide and tungsten metal matrix coatings for a wide range of engineering components. Its coatings combine toughness with resistance to abrasion, erosion and corrosion, and can be applied accurately to interior surfaces and complex geometries, extending component life in aggressive environments for customers in energy, valve and pump manufacturing, industrial gas turbines, precision engineering and aerospace.

The company’s technology helps customers cut downtime and improve operational efficiency, while also reducing carbon footprints, positioning Hardide as a specialist supplier to leading industrial and aerospace firms that demand high-performance, durable surface treatments.

Hardide’s customer base spans major energy sector operators and manufacturers of high-specification equipment, giving it exposure to cyclical but high-value markets that benefit from increased reliability and longevity of critical components.

Average Trading Volume: 374,188

Technical Sentiment Signal: Buy

Current Market Cap: £25.22M

Find detailed analytics on HDD stock on TipRanks’ Stock Analysis page.