JAMES HARDIE INDUSTRIES plc. - JHX STOCK NEWS

The latest siding market report reveals a booming industry, with a valuation of USD 80.13 billion in 2017 and projected growth of USD 20.01 billion from 2022 to 2027, at a CAGR of 4.11%. The APAC region dominates, accounting for 58% of the market share. Key drivers include a robust global construction industry, rising disposable incomes, and the growth of the travel sector. However, challenges such as low adoption in developing regions, labor shortages, and environmental concerns about vinyl siding are significant. Vendors like Boral, James Hardie, and Etex are competing by enhancing product visibility and adopting promotional strategies.

James Hardie reported a 4% decline in global net sales to US$860.8 million for Q3 FY2023, along with a 16% drop in adjusted net income to US$129.2 million. Adjusted EBIT decreased 19% to US$165.4 million, with a margin of 19.2%. North America segment remained flat at US$645.4 million in net sales, while Asia Pacific saw a 13% decrease. The company adjusted its fiscal year 2023 guidance to US$600 million to US$620 million, down from US$650 million to US$710 million. CEO Aaron Erter emphasized strategic adjustments to navigate market challenges, focusing on profitable growth and operational efficiency.

James Hardie Industries plc (ASX: JHX; NYSE: JHX) has appointed Farhaj Majeed as the new Chief Human Resources Officer (CHRO), effective February 20. Majeed brings over 20 years of HR experience from leading companies such as Kraft Foods and Whirlpool Corporation, where he oversaw HR operations in multiple regions including Europe and the Middle East. CEO Aaron Erter emphasized Majeed's strategic HR leadership to enhance the company’s talent and culture strategy. James Hardie is a leader in fiber cement products, committed to sustainability and innovation.

James Hardie Industries plc (ASX: JHX; NYSE: JHX) has appointed Tim Beastrom as Chief Legal Counsel and Joel Wasserman as Vice President of Corporate Communications and Global Brand Management, effective immediately. Beastrom brings 30 years of legal experience, previously serving as Chief Securities Counsel at Ecolab. Wasserman has over 35 years in communications and marketing, previously managing brands at Sherwin-Williams. Both leaders are set to enhance the company's executive team and contribute to strategic growth and brand management. CEO Aaron Erter highlighted the potential contributions of both appointees to improve corporate governance and brand strategies.

LanzaTech NZ, Inc. has announced the appointment of Joseph C. Blasko as General Counsel and Corporate Secretary. Mr. Blasko previously led the legal department at James Hardie Industries and held key roles at Liebert Corporation and The Scotts Miracle-Gro Company. His extensive experience in public companies is expected to aid LanzaTech as it advances its carbon transformation solutions. LanzaTech aims to revolutionize carbon use by converting waste into sustainable products.

James Hardie Industries plc (ASX: JHX; NYSE: JHX) announced the appointment of Renee Peterson as a Non-Executive Director, effective 30 November 2022. Currently the Vice President and CFO of The Toro Company, she brings extensive experience in finance and leadership from her tenure at Eaton Corporation and Honeywell International. This addition increases the board to 8 non-executive directors, with plans for further refreshment. Chairperson Anne Lloyd expressed confidence in Peterson's contributions to the board's strategic direction.

James Hardie Industries reported a 10% increase in global net sales to US$997.6 million for Q2 FY2023, with adjusted net income up 13% to US$175.8 million.

The North America segment saw an 18% rise in net sales to US$750.6 million. However, the Euro-building products segment faced challenges, with a 2% decline in net sales and a 69% drop in EBIT.

Adjusted net income guidance is now set at US$650 million to US$710 million, down from previous estimates, reflecting anticipated market uncertainties.

James Hardie Industries plc has officially appointed Anne Lloyd as Chairperson, effective 3 November 2022. Lloyd succeeds Michael Hammes, who served over 15 years in this role. Both leaders emphasized the importance of strong executive leadership and the company's commitment to shareholders. CEO Aaron Erter expressed enthusiasm for collaboration with Lloyd to ensure long-term profitable growth. The announcement also highlights potential risks and uncertainties that could affect future performance, as outlined in their Annual Report.

James Hardie Industries (ASX: JHX) has appointed Christian Claus as President Europe, enhancing its leadership in the region. Claus brings extensive experience from Tarkett, Air Liquide, and 3M, aiming to drive growth through innovation in high-performance fiber cement and gypsum solutions. Additionally, ESG, IT, and Transformation teams will now report directly to CEO Aaron Erter, facilitating better strategic integration. These moves are expected to boost operational capabilities and market presence in Europe.