Skip to main content

How did the 25th largest company on the ASX perform?

Jessica Amir
August 11, 2020

James Hardie Industries (ASX:JHX), a cement product business, released its Q1 FY2021 results which were better than expected.

James Hardie’s net operating profit fell 1% to US$89.3 million in the first quarter of FY21 financial year, this was better than market expectations.

Underlying earnings (EBIT) came in at US$125 million which was 2% above expectations, following a sales increase in North America with a recovery in volumes from the 3% contractions.

Earnings saw the biggest rise in North America of 29% followed by Asian earnings which grew 24%, both above Citi and UBS expectations. On the flip side, earnings declined in Europe due to restructuring costs and staff cuts, while earnings were weaker in the Philippines and NZ due to government-imposed shutdowns.

JHX shares have gained 111% from their COVID-19 low. Goldman Sachs has JHX as a buy with a $34.38 target, UBS has it as a buy with $34 target and Citi has James Hardie as a buy.

Morning Bell 30 July

Jessica Amir
July 30, 2020

Morning Bell 29 July

Jessica Amir
July 29, 2020

How to use ETFs in your portfolio

Bell Direct
July 28, 2020

Morning Bell 28 July

Jessica Amir
July 28, 2020

Morning Bell 27 July

Jessica Amir
July 27, 2020

Weekly Wrap 24 July

Jessica Amir
July 24, 2020

Morning Bell 24 July

Paulina Peters
July 24, 2020

Morning Bell 23 July

Jessica Amir
July 23, 2020

Morning Bell 22 July

Jessica Amir
July 22, 2020

Morning Bell 21 July

Jessica Amir
July 21, 2020

Morning Bell 20 July

Jessica Amir
July 20, 2020