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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.
James Hardie
James Hardie
James Hardie Revenue by Segment
James Hardie Revenue by Geographic Location
Revenue by Segment
NA Fiber Cement Revenue
CapyFin.comAPAC Fiber Cement Revenue
CapyFin.comEurope Products Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comEurope Revenue
CapyFin.com 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.