Why James Hardie Industries Stock Is Falling Today
Building products manufacturer James Hardie Industries (NYSE: JHX) seemingly delivered solid results, but investors appear more focused on what the company didn't say. Shares of James Hardie traded down 12% as of 1:30 p.m. ET Tuesday on tepid growth guidance, as well as the lack of any deal talk.
James Hardie makes a range of building products, including fiber cement siding that is more durable than wood alternatives. The company earned $0.41 per share in its fiscal third quarter ending Dec. 31 on revenue of $978.3 million, surpassing Wall Street's expectations for $0.39 per share in earnings on sales of $960 million.
Adjusted net income was up 39% year over year, sales were up 14%, and operating cash flow through the first nine months of the year is up 73% compared to the same period of fiscal 2023.
Source Fool.com
