An analyst said that LPX's similar division had a 9% decline in volume, and a 10% price increase. Looks like JHX has a 14% decline in volume, and a price fall of 8%. Doesn't really seem a good comparison. And JHX is expanding based on cap ex. I think it only went up because of the guidance for Q1. JH must be putting some price rises through I assume.
But price rises plus current oversupply plus expansion does not compute very well IMO, when you want your competitors to also raise their prices, if I have the story right.
In fiscal year 2024, we estimate total Capital Expenditures will be approximately US$550 million and plan to:
• Complete construction of ColorPlus® finishing capacity in Westfield, Massachusetts in Q1 FY24
• Continue construction of Sheet Machines #3 and #4 in Prattville, Alabama, with Sheet Machine #3
expected to be completed in Q4 FY24
• Continue construction of ColorPlus® finishing capacity in Prattville, Alabama
• Continue construction of our Greenfield site in Truganina, Victoria
• Continue Brownfield expansion of the fiber gypsum facility in Orejo, Spain
• Purchase land in Q1 FY24 for our future USA Greenfield site in Crystal City, Missouri. We do not intend
to begin construction of this site in FY24
• Purchase land for our future Fiber Cement Greenfield site in Europe in the first half of FY24. We do not
intend to begin construction of this site in FY24
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