Fibre cement maker James Hardie's full-year profit falls 9%
May 21 (Reuters) - James Hardie Industries (JHX.AX), opens new tab, the world's largest fibre cement maker, reported a 9% drop in annual profit on Wednesday, weighed by a weaker performance in its Asia Pacific segment coupled with a modest dip in the North American segment's net sales.
Dublin-based James Hardie logged a 1% drop in annual net sales, as weaker volumes in North America and Asia Pacific outweighed gains from higher average selling prices across its three regions.
The company's North American fibre cement sales slipped 1% for the year, as a 3% drop in volumes from market weakness outweighed gains from its annual price hike.
James Hardie reported an annual adjusted net income of $644.3 million, compared with $707.5 million a year ago and higher than its full-year forecast of at least $635 million.
It was slightly higher than a Visible Alpha consensus estimate of $643.6 million.
The company did not provide an adjusted net income outlook for fiscal 2026, but said it expects its total adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to be up by low single digits next year.
"More recent, broader macroeconomic uncertainty could further impact the cost of home construction and weigh on consumer sentiment, influencing demand," the company said in a statement.
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