Global building materials company James Hardie reported a drop in sales and income across regions last quarter, as earnings slumped over the fiscal year.
Net sales were US$972 million, falling 3% year-over-year from their record high. Adjusted net income was $156.1 million, down 10%.
“We delivered solid business and financial results in the fourth quarter, and our FY25 performance reflects our commitment to invest to scale the organisation and grow profitably even in a more challenging market environment. We are executing on our growth strategy and are confident that our actions are driving market outperformance that will enable us to sustain our strong positioning,” said James Hardie CEO Aaron Erter.
The Dublin-based company’s adjusted diluted earnings per share were US$0.36, down 9% year-on-year. Adjusted EBITDA was $269 million last quarter, down 4%.
Sales and EBITDA dropped in both its North America and Asia Pacific Fiber Cement segments, which the company attributed to lower volumes in weaker markets. In North America, net sales fell 2% to US$718.9 million, while EBITDA was down 7% to $247.6 million.
In Asia Pacific, net sales were down 17% to US$118.1 million, and adjusted EBITDA declined 5% to $40.8 million.
Its Europe Building Products segment saw 5% growth in net sales year-over-year, reaching US$134.5 million. EBITDA was $21.8 million, up 2%.
Across the financial year, net sales and net income also fell. Net sales dropped 1% to US$3.88 billion, and adjusted net income was down 9% to $644.3 million.
James Hardie’s guidance for its 2026 fiscal year includes total adjusted EBITDA growth in the low single digits, along with sales growth in North America in the low single digits.
It will also acquire outdoor living products manufacturer AZEK for $14 billion, with the transaction set to close in the second half of the 2025 calendar year. James Hardie has sought a waiver that would allow the transaction to proceed without a vote from ASX shareholders, though it said it would not leave the ASX without approval.
James Hardie’s (ASX: JHX) share price closed at A$38.49, up from its previous close of $38.35. Its market capitalisation is $16.55 billion.
