James Hardie's ASX shares drop to 1-1/2-month low after earnings outlook miss

James Hardie Industries

20/05/2026 04:28

** Australia-listed shares of James Hardie JHX.AX fall as much as 5.1% to A$25.41, their lowest point since March 31

** The fibre cement maker forecast FY26-27 earnings below expectations due to weak North American homebuilding demand

** Sees FY26-27 net sales of $5.25 billion – $5.41 billion and adjusted operating earnings of $1.45 billion –$1.50 billion, with midpoints of both ranges below Visible Alpha consensus

** RBC Capital Markets analyst Matthew McKellar said James Hardie's macro planning assumption that the replacement and renovation market will be down 2% in FY27 seems slightly softer compared to most investors' expectations

** Company posts a fall in FY2026 adjusted net income to $595.7 million from $644.3 million a year earlier, marginally missing the $597.7 million consensus estimate

** James Hardie stock down 13.2%, YTD

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))