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JHX

James Hardie Industries Plc Releases Q3 Results

Tumul Sinha

Tumul is an experienced Equity Analyst with ASR Wealth Advisers. She holds a Master’s Degree in Finance from the University of Sydney. Her key industry verticals include Real Estate, Health Care and Technology.

James Hardie Industries Plc (ASX: JHX) released its Q3 FY20 results shortly after market close yesterday. James Hardie is a global building materials company and world leader in the manufacture of fibre cement siding and backerboard. The company’s products are used within residential construction, manufactured housing, repair and remodeling and commercial and industrial markets. The company is headquartered out of Ireland, and has primary geographic markets of the US, Canada, Australia, New Zealand and Europe.

JHX RELEASE Q3

James Hardie Industries plc (ASX: JHX) released its Q3 FY20 results shortly after market close yesterday, this comes after the company entered a trading halt earlier in yesterday’s trading session, citing a clerical error resulting in the potential early release of earnings material. (Credit: Stuff.co.nz).

 

The group’s adjusted EBIT (normalized for a one-off accounting related expense) was reported at $110.7m, 9.3% lower than consensus expectations of $122m. North American EBIT margin slipped slightly this half from 27% to 26% despite North America fiber Cement growing 11% in the same period. The construction giant also provided a narrower FY20 full year guidance of $350m to $370m. Consensus estimates $367m, marking the guidance a 2% miss.

This comes after the company entered a trading halt earlier in yesterday’s trading session, citing a clerical error resulting in the potential early release of the aforementioned earnings materials in an overseas market.

The market has reacted unfavorably to the news, with the share price of James Hardie Industries coming off 3.3%. The stock now trades at around $31 per share. However, this fall only comes as a small dip to the company which has experienced a share price rally of over 82% in the past year alone.


Disclaimer:

This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law, we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.

ASR has no position in any of the stocks mentioned.

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