James Hardie shares crashed over 13% following its 1H FY2023 result  announcement

James Hardie Industries plc (ASX: JHX) announced its 1H FY2023 results for the period ended 30 September 2022.

1. Net sales from ordinary activities increased 14% to US$1,998.5 million compared to the previous corresponding period (pcp).
2. Net Profit Attributable to shareholders grew 22% to US$330.5 million on pcp.
3. Net tangible assets per ordinary share improved 22% to US$330.5 million.

Despite, solid 1H FY2023 results, the Company announced the replacement of ordinary dividends with a share buyback program. At the same time, JHX also downgraded its earnings guidance. The updated 2023 Adjusted Net Income guidance range now stands at US$650 million to US$710 million which was earlier in between US$730 million and US$780 million, as a result of decline in volume expectation.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com