James Hardie Industries plc reports on an exterior home and outdoor living products business built around fiber cement, fiber gypsum, composite decking, PVC decking, railing, trim and accessories. Its brands include Hardie®, TimberTech®, AZEK® Exteriors, Versatex®, fermacell® and StruXure®, with products marketed in North America, Europe, Australia and New Zealand.
Recurring company updates cover fiscal-quarter results, segment trends in Siding & Trim and Deck, Rail & Accessories, product innovation, pricing and mix, manufacturing and cost actions, guidance, AZEK integration, and commercial relationships with dealers, contractors and homebuilders. News also includes board and executive appointments for the Irish plc, whose shares trade on the NYSE and ASX under JHX.
James Hardie Industries plc (ASX / NYSE: JHX) reported solid Q1 FY25 results, achieving guidance with Adjusted Net Income of $178 million and record Q1 Adjusted EBITDA of $286 million. Key highlights include:
- Net Sales up 4% to $992 million
- Adjusted EBIT up 1% to $236 million
- Adjusted EBITDA margin of 28.8%
- North America Net Sales growth of 5%
The company reaffirmed its FY25 guidance, projecting North American volumes of 2.95-3.15 billion standard feet, North American EBIT margin of 29-31%, and Adjusted Net Income of $630-700 million. James Hardie maintains a strong financial position with nearly $1 billion in total liquidity and a leverage ratio of 0.66x.
James Hardie Building Products Inc. (NYSE: JHX) has announced a multi-year exclusive agreement with Meritage Homes (NYSE: MTH), the fifth-largest public homebuilder in the U.S. This deal makes Hardie® siding and trim products standard on every new Meritage home where hard siding is installed across the U.S. through 2027.
The collaboration aims to provide Meritage homebuyers with durable, non-combustible, and pest-resistant siding that offers protection against extreme weather. James Hardie's products also provide a wide range of design options. This partnership aligns with Meritage's mission to build innovative and sustainable homes, leveraging James Hardie's manufacturing footprint and Meritage's national coverage.
James Hardie presented its Investor Day 2024 materials, revealing a strategic vision to reach ~25 million homes with its siding by 2035, doubling its market presence. The company aims for double-digit revenue growth by expanding capacity to ~8 billion standard feet and adding new machines at the Prattville and Cleburne facilities.
The Board approved a US$50 million increase in its share buyback program, totaling US$300 million. North American EBITDA margins are expected to expand by 500bps+, and adjusted EBITDA is projected to triple from the FY24 baseline.
CEO Aaron Erter and CFO Rachel Wilson emphasized the company's commitment to profitable growth and attractive shareholder returns.
James Hardie Industries (ASX: JHX; NYSE: JHX) announced record financial results for the fiscal year ending March 31, 2024. The company achieved net sales of US$3.9 billion, a 4% increase from the previous year, and adjusted net income of US$707.5 million, up 17%. In the fourth quarter, net sales reached US$1.004 billion, a 9% rise, with adjusted net income of US$174.2 million. The North America Fiber Cement segment saw a 13% increase in net sales, while the Asia Pacific segment reported a 5% rise. The Europe Building Products segment maintained flat net sales but saw a 53% increase in EBIT. James Hardie projects a strong performance for fiscal year 2025, with North American volumes expected to range between 2,950 million to 3,150 million standard feet, and an EBIT margin between 29% to 31%.
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