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 19 June

Grady Wulff
June 19, 2023

Weekly Wrap 16 June

Grady Wulff
June 16, 2023

Morning Bell 15 June

Grady Wulff
June 15, 2023

Morning Bell 14 June

Grady Wulff
June 14, 2023

Morning Bell 13 June

Sophia Mavridis
June 13, 2023

Weekly Wrap 9 June

Sophia Mavridis
June 9, 2023

Morning Bell 8 June

Grady Wulff
June 8, 2023

Morning Bell 7 June

Grady Wulff
June 7, 2023

Morning Bell 6 June

Sophia Mavridis
June 6, 2023

Morning Bell 5 June

Grady Wulff
June 5, 2023

Weekly Wrap 2 June

Grady Wulff
June 2, 2023

Morning Bell 2 June

Sophia Mavridis
June 2, 2023