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 18 May

Jessica Amir
May 18, 2021

Morning Bell 17 May

Jessica Amir
May 17, 2021

Weekly Wrap 14 May

Jessica Amir
May 14, 2021

Morning Bell 14 May

Sophia Mavridis
May 14, 2021

Morning Bell 13 May

Jessica Amir
May 13, 2021

Morning Bell 12 May

Paulina Peters
May 12, 2021

Morning Bell 11 May

Sophia Mavridis
May 11, 2021

Morning Bell 10 May

Jessica Amir
May 10, 2021

Weekly Wrap 7 May

Jessica Amir
May 7, 2021

Morning Bell 7 May

Sophia Mavridis
May 7, 2021

Morning Bell 6 May

Paulina Peters
May 6, 2021

Morning Bell 5 May

Jessica Amir
May 5, 2021