James Hardie Rises as Profit Upgrade Eases US Housing Angst (1)

James Hardie Industries Plc shares rose in Sydney trading after the residential construction material supplier raised its full-year earnings forecast, easing investor concern it had overpaid for US decking provider AZEK Co.

The company on Tuesday projected total adjusted earnings before interest, taxes, depreciation and amortization of $1.20 billion to $1.25 billion for the 12 months ending March 2026. That’s up from a previous estimate of $1.05 billion to $1.15 billion. Net home siding and trim sales will also be higher than forecast, it said.

“We’ve seen conditions stabilize with recent customer conversations and data shared by customers, showing a ...