JHX +9.9%: Released preliminary Q2 FY26 results that point to the start of a turnaround in its North American business with the US-listing performing strongly overnight.
Hardies now expects Q2 net sales of US$1.29–1.30b and adjusted EPS of US26–27c, comfortably ahead of consensus at US15c, with better-than-expected (less bad!) performance across sliding and trim the main driver of the uplift.
The newly acquired US business Azek is performing solidly with mid-single digit growth for net sales and sell-through for deck, retail and accessories – a positive read-through for the broader housing products space.
Hardie’s will host its conference call on Tuesday, November 18, which shapes their next main catalyst as management outlines the improving demand outlook and its ongoing operational integration with Azek.
The result underscores growing confidence that the company’s turnaround is gaining traction – a welcome move in the MM Active Growth Portfolio.
MM remains long and bullish JHX
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