James Hardie Stock Price, News & Analysis

James Hardie Industries plc (ASX: JHX; NYSE: JHX) announced a negotiated commercial agreement ending the Waitakere litigation on May 8, 2023. This litigation, which was set for a 32-week trial in the Auckland High Court, has been fully settled without any admission of liability. The terms of the agreement are confidential, and both parties expressed satisfaction with the outcome.

James Hardie will record the full costs of this agreement in the Fourth Quarter of Fiscal Year 2023, within General Corporate Costs, which was not included in the Adjusted Net Income guidance released on February 14, 2023. CEO Aaron Erter emphasized the agreement's strategic value, asserting it does not alter the previously announced income guidance.

James Hardie Industries (ASX: JHX; NYSE: JHX) will disclose its financial results for the fourth quarter and full year ending 31 March 2023 on 16 May 2023, prior to market opening on the ASX.

A conference call is scheduled for 8:30am AET on the same day, with a corresponding time of 6:30pm ET on 15 May for North America.

The call will be accessible through a teleconference registration link and will also be available via a webcast.

A replay will be provided after the call at this link.

The latest siding market report reveals a booming industry, with a valuation of USD 80.13 billion in 2017 and projected growth of USD 20.01 billion from 2022 to 2027, at a CAGR of 4.11%. The APAC region dominates, accounting for 58% of the market share. Key drivers include a robust global construction industry, rising disposable incomes, and the growth of the travel sector. However, challenges such as low adoption in developing regions, labor shortages, and environmental concerns about vinyl siding are significant. Vendors like Boral, James Hardie, and Etex are competing by enhancing product visibility and adopting promotional strategies.

James Hardie reported a 4% decline in global net sales to US$860.8 million for Q3 FY2023, along with a 16% drop in adjusted net income to US$129.2 million. Adjusted EBIT decreased 19% to US$165.4 million, with a margin of 19.2%. North America segment remained flat at US$645.4 million in net sales, while Asia Pacific saw a 13% decrease. The company adjusted its fiscal year 2023 guidance to US$600 million to US$620 million, down from US$650 million to US$710 million. CEO Aaron Erter emphasized strategic adjustments to navigate market challenges, focusing on profitable growth and operational efficiency.

James Hardie Industries plc (ASX: JHX; NYSE: JHX) has appointed Farhaj Majeed as the new Chief Human Resources Officer (CHRO), effective February 20. Majeed brings over 20 years of HR experience from leading companies such as Kraft Foods and Whirlpool Corporation, where he oversaw HR operations in multiple regions including Europe and the Middle East. CEO Aaron Erter emphasized Majeed's strategic HR leadership to enhance the company’s talent and culture strategy. James Hardie is a leader in fiber cement products, committed to sustainability and innovation.