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Dec 31, 2024
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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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