ASX-listed James Hardie deepens rout to more than 2-year low after bleak outlook

James Hardie Industries

21/08/2025 01:34

Updates

** ASX-listed James Hardie JHX.AX falls 7% to A$29.85, lowest since January 23, 2023; deepens rout into fifth straight session

** Stock among top 10 losers on ASX 200 benchmark index .AXJO

** JHX lost A$7.14 bln ($4.59 bln) in value on Wednesday after bleak 2026 earnings forecast

** Co flagged challenges in North America division as homeowners defer high-ticket projects, homebuilders cut inventory

** Citi cuts PT to A$35.00 from A$41.50

** Says will maintain "neutral" until macro conditions improve, there's evidence guidance is conservative

** Morningstar slashes FY26 and FY27 adjusted EBITDA outlook by 16% and 29%, respectively

** Says depth of disappointment surprising; housing construction activity appears to have slowed more than expected

** JHX falls 40.8% YTD

($1 = A$1.5545)

 (Reporting by Shivangi Lahiri and Sameer Manekar in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))