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.
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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.