James Hardie lifts Q1 guidance on stronger Siding & Trim sales

Earnings
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James Hardie Industries expects its preliminary first-quarter results to exceed prior guidance, driven by better-than-anticipated sales in its Siding & Trim segment. For the three months ended June 30, the company projects net income of $102 million to $104 million and adjusted EBITDA of $399 million to $407 million, up from the earlier forecast of $354 million to $375 million. Total net sales are now seen at $1.449 billion to $1.475 billion, compared with the previous range of $1.315 billion to $1.354 billion. Within that, Siding & Trim net sales are projected at $846 million to $860 million, above the prior expectation of $758 million to $781 million, while the Deck, Rail & Accessories business is expected to contribute $296 million to $305 million, up from $291 million to $300 million. A year earlier, James Hardie reported net income of $62.6 million on net sales of $899.9 million.

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