James Hardie Industries PLC (JHX) saw its stock price soar 11.79% during intraday trading on Wednesday.
The significant surge follows the company's better-than-expected third-quarter financial results, which showed adjusted earnings per share of $0.24 beating analyst estimates of $0.23 and sales of $1.24 billion exceeding consensus expectations. The company's adjusted EBITDA reached $329.9 million, representing a 26% increase year-over-year.
Investors responded positively to the maintained full-year guidance, which projects total adjusted EBITDA between $1.232 billion and $1.263 billion for fiscal year 2026. Analysts noted that the guidance appears conservative given the strong quarterly performance, suggesting potential upside. The positive sentiment was further bolstered by Truist raising its price target on James Hardie to $30 from $28 while maintaining a Buy rating on the shares.
Comments