James Hardie Industries (JHX:ASX)

Last update - 8 November 2023 By James Woods

James Hardie Industries (JHX), a current holding within the ASX Growth portfolio, this morning reported its second-quarter results for 2023, with the share price jumping 11% on higher-than-expected guidance for Q3 revenue.

The company’s adjusted net operating profit forecast for the third quarter is expected to be between $165 million and $185 million, well above the average consensus estimate of $141.4 million. Despite a year-over-year decrease in net income and net sales for the first half, the gross profit showed a 12% increase, and the cost of goods sold declined by 10%.

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