James Hardie Q3 2025 Earnings Report

James Hardie reported a decline in revenue and profitability for Q3 FY25 but reaffirmed guidance for FY25 and growth plans for FY26.

Key Takeaways

James Hardie posted net sales of $953 million, down 3% year-over-year. GAAP operating income was $206 million, with an operating margin of 21.6%. Net income declined to $142 million, while adjusted net income fell 15% to $154 million. Adjusted EBITDA was $262 million, reflecting a 7% decline, with a margin of 27.5%. The company reaffirmed its FY25 guidance and remains confident in its long-term growth strategy.

Net sales declined by 3% to $953 million.

GAAP net income decreased to $142 million.

Adjusted EPS dropped 13% to $0.36.

The company reaffirmed its FY25 guidance and expects growth in FY26.

Total Revenue

$953M

Previous year: $978M

-2.6%

EPS

$0.36

Previous year: $0.41

-12.2%

Adjusted EBITDA

$262M

Previous year: $280M

-6.5%

Adj. EBITDA Margin

27.5%

Previous year: 28.7%

-4.2%

Adjusted Net Income

$154M

Previous year: $180M

-14.4%

James Hardie Revenue

James Hardie EPS

James Hardie Revenue by Segment

James Hardie Revenue by Geographic Location

Forward Guidance

James Hardie reaffirmed its FY25 guidance and expects volume and margin growth across all regions in FY26.

Positive Outlook

North America volumes expected to be at least 2.95 billion standard feet.
North America EBIT margin forecasted at 29.3% or higher.
Adjusted net income expected to be at least $635 million.
Capital investments in manufacturing facilities continue to support future growth.
Long-term planning includes sales and EBITDA growth across all regions.

Challenges Ahead

Continued market weakness in North America, particularly in multi-family housing.
Higher raw material costs impacting margins.
Production cost absorption challenges affecting profitability.
Volume declines in Asia Pacific due to strategic exits from certain markets.
Challenging market conditions in Europe, particularly in Germany.