James Hardie Industries Plc Plunges on Quarterly Result

  • Aug 10, 2018 AEST
  • Team Kalkine
James Hardie Industries Plc Plunges on Quarterly Result

Strong First quarter 2019 performance but caution for US Housing Market Condition: James Hardie Industries Plc’s (ASX: JHX) stock plummeted 8.269% to $21.3 on August 10, 2018, 2:50 PM AEST, after the company cautioned in the June Quarterly result about the uncertainty of market conditions in US housing and the volatility of some input costs, though there is an improvement in US housing activity. Meanwhile, for the first quarter of 2019, JHX has delivered 29% growth in the Group Adjusted net operating profit to US$79.9 million. The company’s all metrics for the first quarter 2018 grew compared to the same time last year, with its net profit attributable to shareholders growth of 58 per cent to US$91 million. JHX’s net sales from ordinary activities increased 28 per cent (compared to the same time last year), to US$651 million and its EBIT increased 21 per cent to US$107.1 million in 1Q 2019 compared to the prior corresponding period. Moreover, for FY 19, JHX expects  its adjusted net operating profit to be between US$300 million and US$340 million. For 2019, net operating profit excluding asbestos is expected to be between US$313 million and US$358 million, while some analysts are expecting this figure to be higher.

Further, for 2019 JHX expects new construction starts to be between approximately 1.2 and 1.3 million. The North America Fiber Cement segment EBIT margin is expected to be in the top end of the stated target range of 20% to 25% for FY19. The net sales from the Australian business are expected to be above the average growth of the domestic repair and remodel and single family detached housing markets in the eastern states of Australia. On the other hand, JHX stock has fallen 1.02% in three months as on August 09, 2018.JHX report !!.png

June 2018 Quarterly Financial Performance (Source: Company Reports)

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