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.

Market Update

Julia Lee
May 1, 2017

Market Update

Julia Lee
April 28, 2017

Market Update

Julia Lee
April 27, 2017

Market Update

Julia Lee
April 26, 2017

April Overview

Bell Direct
April 26, 2017

Market Update

Julia Lee
April 24, 2017

Market Update

Bell Direct
April 21, 2017

Market Update

Bell Direct
April 20, 2017

Market Update

Bell Direct
April 19, 2017

Market Update

Bell Direct
April 18, 2017

Market Update

Bell Direct
April 13, 2017

Market Update

Bell Direct
April 12, 2017