James Hardie (JHX) still on track to hit guidance
James Hardie (JHX) +4.85%: shares in JHX were higher today with the company updating the market on business activities and guidance. They talked up their early response to the pandemic with strict social distancing guidelines and hygiene focus coming into effect ahead of the virus allowing many manufacturing sites to continue businesses as usual. The company still did tighten guidance to the lower end of the range with FY20 Adj. NOPAT at $US350-$355m with revenue remaining on track, but costs climbing on some operational sections in Europe and “government-mandated closures of manufacturing plants in Spain, New Zealand and the Philippines.” The Australian business was singled out as a strong driver of performance. 4th quarter results will be released in a fortnight.
James Hardie (JHX) Chart
