Some Significant Positives in James Hardie's Revised Guidance -- Market Talk

Dow Jones11-13

2301 GMT - James Hardie's updated annual guidance buoys UBS somewhat. The building materials supplier now expects FY 2025 adjusted net income of at least $635 million, compared to an earlier target of $630 million-$700 million. James Hardie also anticipates volumes of at least 2.95 billion standard feet in its key North America business. In a note, analyst Lee Power says James Hardie's decision to remove the top end of its profit guidance wasn't surprising. UBS also says it is a "significant positive" that James Hardie held to the lower end of its target for volumes and marginally lifted the bottom end of its U.S. Ebit margin goal to more than 29.3%, from 29-31% before. UBS has a buy call on James Hardie's stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 12, 2024 18:01 ET (23:01 GMT)

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