James Hardie Needs to Outpace Market Growth Rate to Achieve Guidance -- Market Talk

Dow Jones11-06

2244 GMT - Building materials supplier James Hardie will require significant above-market growth to meet its annual guidance, says Jefferies. James Hardie expects adjusted net income of $630 million-$700 million, with an Ebit margin of 29-31% in North America. "Whilst expectations of macroeconomic relief may have been expected given interest rate cuts, the recent increase in the 30-year mortgage rate and Repair & Remodel commentary indicates the market remains weak into 4Q of FY 2024," says analyst Kai Erman. Jefferies retains a hold call on James Hardie's stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 05, 2024 17:44 ET (22:44 GMT)

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