News: JHX James Hardie Says Expects Q2 Adjusted Net Income Of $170 Mln To $190 Mln

Aug 8 (Reuters) - James Hardie Industries PLC (JHX) :

• SEES Q2 FY2024 NORTH AMERICAN VOLUMES TO BE IN RANGE OF 740 MILLION TO 770 MILLION STANDARD FEET
• SEES Q2 FY2024 NORTH AMERICAN EBIT MARGIN TO BE IN RANGE OF 30% TO 32%
• Q2 ADJUSTED NET INCOME GUIDANCE OF US$170 MILLION TO US$190 MILLION
• OUTLOOK FOR HOUSING MARKETS WE PARTICIPATE IN GLOBALLY CONTINUES TO REMAIN UNCERTAIN
• FOCUSED ON MAINTAINING OUR MOMENTUM TO DELIVER STRONG FINANCIAL RESULTS AGAIN IN Q2
• FOR FULL YEAR FY24, WE EXPECT TO SPEND A TOTAL OF APPROXIMATELY US$550 MILLION IN CAPITAL EXPENDITURES
• REMAIN COMMITTED TO INVESTING IN CAPACITY EXPANSION
• IN NORTH AMERICA, EXTERNAL DATA PROVIDERS WE UTILIZE EXPECT OUR ADDRESSABLE MARKET TO DECREASE BETWEEN 5% AND 18% IN CY2023 VERSUS CY2022
• EXPECT CONTINUED ROBUST OPERATING CASH FLOWS WILL ENSURE WE MAINTAIN STRONG LIQUIDITY POSITION
• DO NOT INTEND TO BEGIN CONSTRUCTION OF USA GREENFIELD SITE IN CRYSTAL CITY SITE IN FY24
• SINCE COMMENCEMENT OF SHARE BUYBACK PROGRAM IN NOV 2022, BOUGHT BACK 5.8 MILLION SHARES FOR TOTAL CONSIDERATION OF US$127.4 MILLION
• REMAIN COMMITTED TO INVESTING IN CAPACITY EXPANSION

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