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Asia

Australian Shares Flat; oOh!media Confirms Non-Binding Indicative Offer From Bain Capital

Australian shares were flat with a negative bias on Tuesday as investors weighed in on the cessation of strikes between Israel and Iran after an exchange over the weekend.The S&P/ASX 200 Index was little changed to close at 8,604.20.Brent crude oil futures fell to trade at around $93 per barrel after indications of de-escalation between Israel and Iran.On Wall ​Street, the Nasdaq fell over 4% on Friday, but rebounded 0.9% overnight. Stronger economic activity and job growth in the US led investors to expect the Federal Reserve to delay its rate cuts.On the domestic front, Australia's consumer confidence fell further into pessimistic territory in June as cost-of-living pressures, weakening household finances, and softer housing expectations continued to weigh on sentiment. The Westpac-Melbourne Institute Consumer Sentiment Index fell 2.9% to 80.6 in June from 83 in May.Business confidence in Australia lifted off a low base, rising 10 points to negative 14 index points in May. However, it is still weak, and margin pressures are likely to remain a factor for businesses in the months ahead, according to the NAB Monthly Business Survey. Sentiment remains negative across all industries despite the increase, and overall conditions continue to track below average through the year.The total value of residential dwellings in Australia rose 2.5% in the March quarter, settling at AU$12.773 trillion. The mean price of residential buildings rose AU$22,300 to AU$1.1 million in the quarter.In company news, oOh!media (ASX:OML) confirmed that it has received conditional non-binding indicative offers from Bain Capital and other financial sponsors, consistent with the terms of the I Squared Capital proposal. The company on May 11 said it received an unsolicited, non-binding takeover offer from I Squared Capital to acquire the company for AU$1.45 per share in cash via a scheme of arrangement.James Hardie Industries (ASX:JHX) has been served with a group proceeding in the Supreme Court of Victoria on behalf of investors who acquired securities between May 21, 2025, and Aug. 19, 2025, alleging that it breached regulations in relation to forward-looking statements about its forecast financial performance. It denied the allegations and said it will vigorously defend the case.Coast Entertainment Holdings (ASX:CEH) said Queensland's State Assessment and Referral Agency (SARA) has issued its referral agency response to the Deputy Premier and Minister for State Development, Infrastructure and Planning regarding the company's Dreamworld precinct development application. SARA's response is the penultimate step in the call-in process and is submitted to the Minister for consideration ahead of a final decision.

ASX 200ASX:CEHASX:JHXASX:OML
Asia

Update: James Hardie Industries Faces Victoria Class Action Alleging Disclosure Breaches

(Updates to add stock movement in the last paragraph)James Hardie Industries (ASX:JHX) has been served with a group proceeding in the Supreme Court of Victoria on behalf of investors who acquired securities between May 21, 2025, and Aug. 19, 2025, according to a Tuesday Australian bourse filing.The claim alleges that the company breached the Corporations Act 2001, the Australian Securities and Investments Commission Act 2001, and Australian Consumer Law in relation to forward-looking statements about its forecast financial performance, per the filing.The company denied the allegations and maintains that it has met all disclosure obligations, rejects liability, and says it will vigorously defend the case, per the filing.The company's shares fell past 2% in recent Tuesday trade.

ASX:JHX
Asia

ASX Preview: Australian Shares Set to Rise as Oil Gains on Iran-Israel Tensions; James Hardie Industries Faces Victoria Class Action Alleging Disclosure Breaches

Australian shares are poised to rise on Tuesday as oil prices gained amid renewed Middle East tensions following exchanges of strikes between Iran and Israel and concerns over supply disruptions through the Strait of Hormuz.The move comes despite an agreement by the Organization of the Petroleum Exporting Countries to increase output targets.Overnight, the S&P 500 and the Nasdaq Composite rose 0.3% and 0.9% respectively, while the Dow Jones Industrial Average fell 0.2%.In the macroeconomy, investors are eyeing the Westpac-Melbourne Institute Consumer Sentiment Index and National Australia Bank Business Confidence Index.In corporate news, James Hardie Industries (ASX:JHX) has been served with a group proceeding in the Supreme Court of Victoria on behalf of investors who acquired securities between May 21, 2025, and Aug. 19, 2025, alleging breaches of Australian corporate and consumer law relating to forward-looking statements about its forecast financial performance.Rio Tinto (ASX:RIO) said Tuesday it is increasing its annual community investment commitment in Canada by 30% through its Rio Tinto Canada Fund, bringing total annual funding to CA$13 million to support community-led initiatives across the country.Australia's benchmark index fell 0.7% or 61 points to close at 8,625.10 on June 5.

ASX 200ASX:JHXASX:RIO
Asia

James Hardie Industries Faces Victoria Class Action Alleging Disclosure Breaches

James Hardie Industries (ASX:JHX) has been served with a group proceeding in the Supreme Court of Victoria on behalf of investors who acquired securities between May 21, 2025, and Aug. 19, 2025, according to a Tuesday Australian bourse filing.The claim alleges that the company breached the Corporations Act 2001, the Australian Securities and Investments Commission Act 2001, and Australian Consumer Law in relation to forward-looking statements about its forecast financial performance, per the filing.The company denied the allegations and maintains that it has met all disclosure obligations, rejects liability, and says it will vigorously defend the case, per the filing.

ASX:JHX
Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28

ASX 200ASX:AAIASX:CSCASX:EVNASX:JHXASX:LYCASX:NXTASX:PLSASX:RIOASX:S32ASX:SGH
Asia

Australian Shares Fall; James Hardie Industries Posts Lower Fiscal Q4 Adjusted Earnings, Higher Net Sales

Australian shares again fell on Wednesday as a sell-off in bonds intensified amid rising concerns over inflation.The S&P/ASX 200 Index rose 1.26%, or 108.10 points, to close at 8,496.60.Brent crude oil futures were trading above $110 per barrel. Two Chinese tankers filled with oil exited the Strait of Hormuz on Wednesday, Reuters reported, citing shipping data.The US 30-year treasuries yield rose to 5.2%, the highest level since 2007. The Australian government 15-year bond yield was at 5.29 %, the highest level since 2011.On the domestic front, employers in Australia paid a total of AU$110.56 billion in wages and salaries for 15.5 million jobs in March, an increase of 1.4% from AU$109.07 billion in February, according to data from the Australian Bureau of Statistics.The United Nations lowered its 2026 growth forecast for the Australian economy to 2% as the country's demand‐led recovery is now under pressure from the energy supply shock created by the Middle East conflict, according to the mid-year update of the body's World Economic Situation and Prospects report.In company news, James Hardie Industries (ASX:JHX) reported fiscal fourth quarter adjusted earnings of $0.30 per share, down from $0.36 a year earlier. Net sales for the three months ended March 31 was $1.4 billion, compared with $971.5 million a year earlier. Its shares were down nearly 1% on market close.Electro Optic Systems Holdings (ASX:EOS) said it has completed a fully underwritten institutional placement of about 18.8 million new fully paid ordinary shares at AU$8 per share, raising AU$150 million from existing and new institutional investors. Its shares fell 10% on market close.Lastly, Webjet (ASX:WJL) said its wholly owned subsidiary Webjet Marketing has received written notice from Virgin Australia Holdings (ASX:VGN) advising of changes to their existing agency and ancillary commercial arrangements. Virgin has advised that from July 1 it will significantly reduce these commission payments and broader commercial terms. Its shares plunged 11% on market close.

ASX 200ASX:EOSASX:JHXASX:WJL
Asia

James Hardie Reports Solid Quarter, Driven by Upside on margins, Growth in Decking, Jefferies Says

James Hardie Industries (ASX:JHX) reported a solid quarter, despite weaker volumes in siding, with the beat driven by upside on margins and growth in decking, according to a Wednesday note by Jefferies.James Hardie reported fiscal fourth quarter adjusted earnings of $0.30 per share, down from $0.36 a year earlier and in line with expectations. It also reported earnings before interest, taxes, depreciation, and amortization of AU$381 million, ahead of consensus.Its management is confident it can deliver organic growth in siding from its commercial initiatives, even in a down market. For the full year, the management expects sales of AU$5.25 billion to AU$5.41 billion and EBITDA of AU$1.450 billion to AU$1.50 billion.James Hardie framed the macroeconomic backdrop as challenging, with mortgage rates rising. Integration of Azek and executing on commercial synergies remains the firm's strategic focus. It is on track to hit AU$125 million run-rate revenue synergies exiting fiscal 2027.The investment firm has a buy recommendation on James Hardie with a price target of AU$30 per share.

ASX:JHX
Asia

Update: James Hardie Industries Posts Lower Fiscal Q4 Adjusted Earnings, Higher Net Sales

(Updates to add share movement in the fifth paragraph)James Hardie Industries (ASX:JHX) reported Wednesday fiscal fourth quarter adjusted earnings of $0.30 per share, down from $0.36 a year earlier.Analysts polled by FactSet expected earnings of $0.31.Net sales for the three months ended March 31 was $1.4 billion, compared with $971.5 million a year earlier. Analysts surveyed by FactSet expected $1.41 billion.For fiscal 2027, the company expects total net sales of $5.25 billion to $5.41 billion, adjusted earnings before interest, taxes, depreciation, and amortization of $1.45 billion to $1.5 billion, and capital expenditures of around 6% to 7% of net sales. Analysts polled by FactSet expect sales of $5.47 billion.The company's shares fell 1% in recent Wednesday trade.

ASX:JHX
Asia

ASX Preview: Australian Shares Set to Fall as Oil Eases on US-Iran Talks; James Hardie Industries Posts Lower Fiscal Q4 Adjusted Earnings, Higher Net Sales

Australian shares are poised to fall on Wednesday as oil prices eased after reports of progress in US-Iran talks and easing fears of an imminent military escalation, although crude remains elevated amid ongoing Middle East supply risks and disruptions to global energy flows.Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.7%, while the Nasdaq Composite declined 0.8%.In the macroeconomy, the monthly employee earnings indicator report is due at 11:30 am Sydney time.In corporate news, James Hardie Industries (ASX:JHX) reported Wednesday fiscal fourth quarter adjusted earnings of $0.30 per share on net sales of $1.4 billion, compared with adjusted earnings of $0.36 on net sales of $971.5 million a year earlier.Catapult Sports (ASX:CAT) reported on Wednesday a fiscal 2026 loss of $0.089 per share on revenue of $140.7 million, compared with loss of $0.034 on revenue of $116.5 million a year earlier.Australia's benchmark index rose 1.2% or 99.4 points to close at 8,604.70 on Tuesday.

ASX 200ASX:CATASX:JHX
Asia

James Hardie Industries Posts Lower Fiscal Q4 Adjusted Earnings, Higher Net Sales

James Hardie Industries (ASX:JHX) reported Wednesday fiscal fourth quarter adjusted earnings of $0.30 per share, down from $0.36 a year earlier.Analysts polled by FactSet expected earnings of $0.31.Net sales for the three months ended March 31 was $1.4 billion, compared with $971.5 million a year earlier. Analysts surveyed by FactSet expected $1.41 billion.For fiscal 2027, the company expects total net sales of $5.25 billion to $5.41 billion, adjusted earnings before interest, taxes, depreciation, and amortization of $1.45 billion to $1.5 billion, and capital expenditures of around 6% to 7% of net sales. Analysts polled by FactSet expect sales of $5.47 billion.

ASX:JHX
Asia

James Hardie Industries Says Wellington Management Disposes Of Shares During Trading

James Hardie Industries (ASX:JHX) said Wellington Management Group reduced its stake in the firm via the disposal of shares in the regular course of trading on Wednesday, according to a Friday Australian bourse filing.Wellington now holds 46.3 million depositary receipts and ordinary shares, compared with 46.6 million depositary receipts and ordinary shares earlier.Its shares rose 1% in recent trading on Friday.

ASX:JHX
Asia

James Hardie Industries Under Law Firm Investigation Over Potential Disclosure Failures

James Hardie Industries (ASX:JHX) is being investigated by law firm Maurice Blackburn over potential disclosure failures ahead of the release of its fiscal first-quarter 2026 results, which precipitated a 34% decline in its Australia-listed shares over two trading days in August 2025, the law firm said.Maurice Blackburn said the company in May 2025 guided for fiscal 2026 organic sales and earnings before interest, taxes, depreciation, and amortization growth across all regions, but in August 2025 reported weaker-than-expected quarterly results that included a fall in earnings and net sales."Our investigation concerns whether James Hardie engaged in misleading or deceptive conduct and/or breached its continuous disclosure obligations by failing to disclose material issues affecting its North American Fiber Cement segment," Maurice Blackburn said.James Hardie Industries did not immediately respond to a request for comment from.The company's shares were gaining more than 1% in recent Tuesday trade.

ASX:JHX
Asia

James Hardie Industries Well Positioned to Weather Headwinds Amid Challenging US Housing Outlook, Jefferies Says

James Hardie Industries (ASX:JHX) is best positioned amongst Australian building products stocks to weather headwinds amid a challenging US housing outlook, Jefferies said in a Wednesday note.The equity research firm pointed to the company's internal initiatives and conservative set-up for fiscal 2027 driving earnings growth in the mid-single-digit percentage range.It added that Reliance Worldwide's (ASX:RWC) outlook remains challenged as a result of cost headwinds related to copper and tariffs, while Reece's (ASX:REH) investment in its US physical footprint entails a near-term cost for shareholders with only minor improvement anticipated in the short term.A Reece store analysis indicates a slower ramp-up of earnings than assumed by consensus forecasts, Jefferies said.The equity research firm maintained a buy recommendation on both James Hardie and Reliance Worldwide, and a hold rating on Reece. It cut the price target on James Hardie to AU$42 from AU$46, lowered the price target to AU$15.90 from AU$16.50 for Reece, and trimmed the price target on Reliance Worldwide to AU$3.80 from AU$4.05.James Hardie Industries' shares fell almost 5% in recent Thursday trade, Reliance Worldwide's shares shed 3%, and Reece's shares tumbled 6%.

ASX:JHXASX:REHASX:RWC