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 27 February

Bell Direct
February 27, 2025

Morning Bell 26 February

Bell Direct
February 26, 2025

Morning Bell 25 February

Bell Direct
February 25, 2025

Morning Bell 24 February

Bell Direct
February 24, 2025

Weekly Wrap 21 February

Bell Direct
February 21, 2025

Morning Bell 20 February

Bell Direct
February 20, 2025

Morning Bell 19 February

Bell Direct
February 19, 2025

Morning Bell 18 February

Bell Direct
February 18, 2025

Morning Bell 17 February

Bell Direct
February 17, 2025