News: JHX James Hardie Adjusts FY23 Adjusted Net Income Guidance Range To $730 Mln To $780 Mln

Aug 16 (Reuters) - James Hardie Industries PLC (JHX) :

• QTRLY NET SALES FROM ORDINARY ACTIVITIES $1,000.9 MILLION VERSUS $843.3 MILLION REPORTED YEAR AGO
• ADJUSTS FISCAL YEAR 2023 ADJUSTED NET INCOME GUIDANCE RANGE TO US$730 MILLION AND US$780 MILLION
• NO DIVIDEND REINVESTMENT PLAN WAS IN OPERATION FOR FY2022 SECOND HALF ORDINARY DIVIDEND
• ADJUSTED NET INCOME +15% TO US$154.3 MILLION FOR Q1
• CURRENT MACRO-ECONOMIC ENVIRONMENT PUTTING PRESSURE ON OUR FISCAL YEAR 2023 FINANCIAL RESULTS DUE TO INCREASED INPUT AND FREIGHT COSTS
• CONFIDENT WE WILL BE ABLE TO DELIVER GROWTH ABOVE MARKET AND STRONG RETURNS IN FISCAL YEAR 2023
• PRIMARY REASONS FOR ADJUSTING GUIDANCE DOWNWARD ARE CONTINUED INFLATIONARY PRESSURES GLOBALLY, AMONG OTHERS
• IN FISCAL YEAR 2023, REDUCED ORIGINALLY PLANNED CAPITAL EXPANSION CAPITAL EXPENDITURES PLAN BY 29%
• CURRENT MACRO-ECONOMIC ENVIRONMENT CREATING UNCERTAINTY FOR HOUSING MARKETS IN ALL THREE REGIONS WE DO BUSINESS IN
• "WE HAVE CONTINUED TO ADJUST OUR GLOBAL CAPACITY EXPANSION PLANS TO ENSURE WE ARE ADDING CAPACITY IN RIGHT REGIONS AT RIGHT TIME"
• EXPECT TO GENERATE SEQUENTIALLY IMPROVING EBIT MARGIN RESULTS THROUGHOUT FISCAL YEAR 2023 FOR NORTH AMERICA
• BUSINESS IS WELL POSITIONED TO DELIVER STRONG NET SALES AND EBIT GROWTH OVER REMAINDER OF FISCAL YEAR 2023 FOR NORTH AMERICA