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 28 May

Jessica Amir
May 28, 2020

Morning Bell 27 May

Jessica Amir
May 27, 2020

Morning Bell 26 May

Jessica Amir
May 26, 2020

Morning Bell 25 May

Jessica Amir
May 25, 2020

Weekly Wrap 22 May

Jessica Amir
May 22, 2020

Morning Bell 22 May

Jessica Amir
May 22, 2020

Morning Bell 21 May

Jessica Amir
May 21, 2020

Morning Bell 20 May

Jessica Amir
May 20, 2020

Morning Bell 19 May

Jessica Amir
May 19, 2020

Morning Bell 18 May

Jessica Amir
May 18, 2020

Weekly Wrap 15 May

Jessica Amir
May 15, 2020