James Hardie (ASX:JHX) raises guidance

Company News

by Anna Napoli

James Hardie (ASX:JHX) has raised its FY21 net operating profit guidance range to between US$380 million and US$420 million, from a previous guide of US$330 million and US$390 million.

The company also expects second quarter group net Sales, group adjusted earnings and group adjusted NOPAT to be all-time quarterly highs.

For the second quarter, the building materials supplier expects adjusted earnings before interest and tax (EBIT) and adjusted NOPAT to both increase by approximately 22 per cent compared to the prior corresponding period.

The company says it’s the sixth consecutive quarter it has delivered growth above market with strong returns.

Shares in James Hardie (ASX:JHX) are trading 2.7 per cent higher at $36.16.