James Hardie raises FY27 outlook on strong revenue growth
- James Hardie (ASX:JHX) reported first-quarter net sales of US$1.47 billion, representing a 20% increase.
- The company raised its full-year adjusted EBITDA growth target range to 27%–31%.
- Higher sales volumes across key North American exterior markets drove the stronger financial performance.
James Hardie (ASX:JHX) increased its full-year earnings outlook after posting net sales of US$1.47 billion for the first quarter of FY27.
Net income for the quarter came to US$104 million, while adjusted EBITDA reached US$422 million.
"Our strong first-quarter results reflect disciplined execution and continued above-market growth, rather than a meaningful improvement in the underlying U.S. housing market. We are not assuming a housing market improvement, but our performance and growth expectations support raising our full-year outlook," said James Hardie CEO Aaron Erter.
The company stated that its Siding and Trim segment recorded net sales of US$859.8 million for the quarter, up 34% a year earlier. Deck, Rail and Accessories segment net sales decreased 5% on a pro forma basis compared to the quarter ended June 30.
Net sales in the Australia and New Zealand segment increased 26% in the quarter to US$153.3 million, driven by low double-digit volume growth and an FX tailwind in the period.
The company stated it is targeting full-year FY27 pro forma sales growth of 5.9% to 9.0% and reaffirmed a free cash flow target exceeding US$500 million.
Following the announcement, the James Hardie share price was up at $40.82.
The building materials provider expanded its portfolio earlier this year through key distribution agreements across its North American network.
The group continues to focus on fibre cement and composite decking products across its regional operating markets.
