Financial

James Hardie Industries' Third-Quarter Income Rises by 39%

ames Hardie Industries reported a 39% increase in its third-quarter profit.

James Hardie Industries revealed a significant 39% surge in its third-quarter profit. The company's adjusted net income for the three months ended Dec. 31 stood at $179.9 million, compared with $129.2 million a year earlier, surpassing an LSEG estimate of $174.2 million.

The firm also projected a North American earnings margin before interest and taxes of between 30% and 32% in the fourth quarter, with an EBIT margin of 32.7% for the segment during the third quarter.

The company, which primarily generates its profits from its U.S. operations, benefited from lower freight and pulp costs in the housing construction market in the world's largest economy.

Net sales in the company's North America and other segments, including Asia-Pacific and Europe, rose 14% to $978.3 million from $860.8 million a year earlier. James Hardie also stated that it expects to spend about a total of $515 million in capital expenditures for the full year 2024.

Source: MarketScreener

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