📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

James Hardie Industries plc engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ~ Volatile 4 quarters analysed

Q1 2026

Cautious

Management repeatedly uses phrases like 'uncertainty is a common thread', 'incremental market softness', 'prudent to plan for more cautious order patterns', and 'defensive inventory posture', reflecting a guarded stance amid deteriorating demand.

Q2 2026

Mixed

Management expressed confidence in long-term strategy and synergy targets but acknowledged underperformance in North American Fiber Cement margins and ongoing market challenges, stating they are not satisfied with current results. They used phrases like 'we know we can do better' alongside 'we are more optimistic than ever'.

Q3 2026

Confident Specific

Management used specific numbers like 'exceeded our guidance', '500 bps sequential improvement', 'cost savings of $25M', and 'mid-single-digit ASP increase', while acknowledging challenges in new construction but emphasizing disciplined execution and clear strategic plans.

Q4 2026 latest

Confident Specific

Management uses precise numbers (e.g., $20M weather impact, $125M commercial synergy run rate, $80-$100M cost inflation) and details concrete initiatives (e.g., Midwest pilot, combined sales force, HOS) to convey control despite a challenging market.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis strengthens modestly due to management's explicit confidence in returning fiber cement to volume growth via proven Midwest pilot and combined sales force. Synergy progress (especially cost) is ahead of schedule, and FCF guidance of >$500M suggests meaningful deleveraging. However, the market backdrop remains challenging (mortgage rates, consumer sentiment), and management assumes no macro improvement. Key items to watch next quarter: Siding & Trim volume trajectory, DR&A inventory normalization, and the pace of commercial synergy wins. The stock may re-rate if volume growth materializes despite headwinds, but margin expansion is largely self-help and less dependent on demand.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED James Hardie Q4 FY26 revenue $1.4B, EBITDA $381M, guides FY27 sales $5.25-5.41B.

Revenue & Profitability

Q4 fiscal 2026 total net sales grew 45% year-over-year to $1.4 billion, including $445 million from the AZEK acquisition; organic net sales declined 1%. Adjusted EBITDA was $381 million (27.1% margin). For the full year, net sales were $4.8 billion (up 25% total, organic down 2%), adjusted EBITDA $1.27 billion (26.2% margin). Q4 adjusted net income was $173 million, adjusted diluted EPS $0.30. Free cash flow for fiscal 2026 was $314 million.

Outlook

Management expects the addressable market to decline approximately 3% in fiscal 2027, with mortgage rates higher, builder confidence and consumer sentiment softer, and economic uncertainty cited by nearly half of dealers and contractors as their biggest challenge. The Middle East conflict is driving $80 million-$100 million in cost inflation, roughly two-thirds in North America. Pricing actions have been announced to offset pressure.

Growth Drivers

Key growth levers include returning fiber cement to organic volume growth in fiscal 2027, targeting a $1 billion+ R&R opportunity in the Northeast and Midwest, pursuing $750 million in regional home builder business, and executing commercial synergies targeting $125 million run rate by fiscal year-end. Deck Rail & Accessories is expected to outpace the market by 500-700 basis points, with shelf expansion and contractor conversion.

Balance Sheet & CapEx

Capital expenditures for fiscal 2027 are expected to be approximately 6%-7% of net sales, primarily for maintenance, safety, and targeted growth investments. Integration and acquisition costs are stepping down meaningfully, contributing to a significant free cash flow improvement to over $500 million in fiscal 2027 (up from $314 million in fiscal 2026).

Margins

Adjusted EBITDA margin for the full year was 26.2% (Q4 27.1%). Fiscal 2027 planning assumptions imply adjusted EBITDA of $1.45-$1.5 billion, representing 4.1%-7.7% pro forma growth. Margin expansion is driven by cost synergies ($35-40 million incremental), plant closure savings ($25 million annualized), pricing against inflation ($80-100 million headwind), and HOS productivity. Q1 margins in Deck Rail & Accessories will be softer due to channel inventory normalization.

Key Risks

Risks flagged include macroeconomic uncertainty, higher mortgage rates, consumer and builder sentiment softening, and weather impacts ($20 million headwind to fiber cement in Q4). The Middle East conflict is driving raw material, freight, and energy inflation. Channel inventory normalization in Deck Rail & Accessories will pressure Q1 results. Management also noted limited visibility given the calendar year overlap.

Generated by AI · Q4 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-08-06

Q1 net sales and Adjusted EBITDA exceeded guidance, driven by strong fiber cement growth and successful integration of AZEK. Expanded distribution partnerships and cost synergies support raised full-year outlook, despite ongoing macro and cost pressures.

Q4 2026 Q4 2026 2026-05-19

Q4 and full-year results exceeded expectations with strong cost control and synergy realization, despite a challenging market. Fiscal 2027 guidance anticipates modest sales and EBITDA growth, significant free cash flow improvement, and continued margin expansion, supported by integration progress and targeted growth initiatives.

Q3 2026 Q3 2026 2026-02-10

Net sales rose 30% to $1.24B, driven by AZEK acquisition and disciplined execution. Siding and trim margins improved sequentially, while cost and commercial synergies are ahead of plan. FY 2026 guidance was raised, with organic growth and margin expansion targeted for FY 2027.

Q2 2026 Q2 2026 2025-11-18

Q2 net sales rose 34% to $1.3B, driven by AZEK acquisition, while organic sales dipped 1%. Margins declined in Siding and Trim due to lower volumes, but cost synergies and integration are ahead of plan. Guidance was modestly raised as market conditions stabilized, with strong performance in decking and ongoing focus on deleveraging.

Q1 2026 Q1 2026 2025-08-18

Q1 results met internal expectations despite a 9% sales decline and ongoing market softness, especially in North America. The AZEK acquisition is progressing well, with early synergy realization and a strong outlook for long-term growth, though near-term demand and inventory headwinds persist.

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