The James Hardie Industries plc (ASX: JHX) share price is currently up around 13% after it reported.
James Hardie is an industrial building materials company headquartered in Ireland that was founded in 1888. It manufactures fibre cement building products for external cladding, interior lining, flooring and eaves.
Here’s What James Hardie Reported
For the three months ended 30 June 2019 net sales increased by 1% to US$656.8 million but net profit decreased by 5% to US$86.5 billion.
However, group adjusted net operating profit (NOPAT) increased by 13%to US$90.2 million. Group adjusted EBIT (click here to learn what EBIT means) increased by 16% to US$124.4 million.
The North America fibre cement segment volume increased by 4% for the quarter compared to the prior corresponding period.
Pleasingly, net tangible assets per share increased by 18% to US$1.29.
James Hardie is expecting to see modest growth in the US housing market in the 2020 financial year, with expected construction starts between 1.2 million and 1.3 million.
The company expects full year adjusted operating profit to be between $US$325 million and US$365 million.
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