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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

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