James Hardie Industries Raises Guidance

James Hardie Industries plc (ASX: JHX; NYSE: JHX), the world’s #1 producer and marketer of high-performance fiber cement and fiber gypsum building solutions raised FY2021 guidance, as the company continues to deliver growth above market and strong returns as it remains steadfast in its journey toward its global transformation.

“We began our transformation over 18 months ago. Delivering these consistent results is a testament to the foundational strength we are building within our company. Our business, like our products, is built to last. Our commitment to Zero Harm and our focus on global manufacturing efficiency has allowed us to consistently provide a high level of service to our customers and deliver quality products to the markets in which we operate around the world. This transformation, which is driven by a continuous improvement mindset, has enabled our ability to deliver consistently improving financial results,” said James Hardie Industries Chief Executive Officer Dr. Jack Truong.

Full-Year FY2021 and Second Quarter FY2021 Guidance

James Hardie raised the full-year FY2021 adjusted NOPAT guidance range to between US$380 million and US$420 million, from between US$330 million and US$390 million.

For the second quarter FY2021, the company expects Group Adjusted EBIT and Group Adjusted NOPAT to both increase by approximately 22% compared to the prior corresponding period. The company also expects second quarter Group Net Sales, Group Adjusted EBIT and Group Adjusted NOPAT to be all-time quarterly highs.

Delivering record Group Net Sales, Group Adjusted EBIT and Group Adjusted NOPAT was made possible by having all three operating regions deliver growth above market with strong returns in the second quarter of FY2021. This marks the first time that all three operating regions (North America, Asia Pacific, and Europe) delivered strong financial results concurrently.

“This is the sixth consecutive quarter that we have delivered growth above market with strong returns. We continue to achieve these results by executing better every day against our strategic imperatives and seamlessly serving our customers, while improving working capital for our customers and for the company,” Dr. Truong said.

Additional Second Quarter FY2021 Guidance:

• Asia Pacific Fiber Cement Segment Net Sales growth of ~+4% in local currency, versus pcp.
• Europe Building Products Segment Net Sales growth of ~+8% in local currency, versus pcp.
• Liquidity of ~US$890 million at 30 September 2020, an increase of ~US$190 million from 30 June 2020.

The Company’s Continued Transformation