Building products company James Hardie (ASX:JHX) has reaffirmed its guidance for 2025 following a first-quarter functionality for the three months ending in June.
However, there are no signs that full-year profits are expected to improve from the decline forecast earlier this year.
Full-year guidance remains for an adjusted profit of between $437 million and $485 million. This is below the $490 million announced for 2023-24, but the market was aware of this when the full-year figures were released.
The company said its sales increased in the United States and Europe in terms of profit and volume, but decreased in Asia-Pacific (mainly Australia) due to a 9% decline in volumes. A 7% increase in value reduced the decline. in source of profits at around 2%.
Net sales for the quarter totaled $687 million, up 4%, but earnings before interest and taxes (EBIT) rose 1% to $163. 1 million.
This caused the net source of revenue to fall by 2% to $107. 7 million.
Adjusted profit increased 2% to $123. 1 million, and expected adjusted profit for the current quarter will be between $93. 5 million and $107. 7 million. This indicates a significant decrease in the company’s profits.
Adjusted net profit for the June 2023-24 quarter just over $123. 1 million, so the company faces a potential profit decline from $16 million to $29 million for the current quarter.
James Hardie CEO Aaron Erter’s ASX was notably absent from any mention of this potential drop.
Instead, Erter said: “We have had a good start to the year, thanks to our teams’ focus on safely delivering the highest quality products and responses to our customers. We execute our strategy, deliver on our commitments, and manage decisively as we evolve the organization and invest to grow our business profitably.
He added, “Our strong first-quarter results, coupled with our continued execution against our strategic priorities, our confidence in reaffirming our full-year guidance.
We continue to expect the North American outdoor products market to be down 5% to 5% in our fiscal year, and we now expect the market environment to challenge our second-quarter tax.
However, despite those headwinds, we remain well positioned to deliver full-year effects within the levels we delivered at the beginning of the year, and our groups are working tirelessly to leverage our strong pricing proposition for our leadership position. in the industry. and drive our outperformance as markets move toward recovery.
Get updates delivered straight to your inbox.
Terms of Use | Privacy Policy | Contact | Announce
Overall increases for Deep Leads’ resources: quality, tonnage and target area ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at Deep Leads’ rare ion adsorption clay (IAC) earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding in the 10-day area. Ford Company (Ford) signed a memorandum of understanding for around 25,000 t/year and last week, Hanwa, a Japanese commodity trader, signed a memorandum of understanding for up to 25,000 t/yr. Subject to execution, this is a feat as Ford and Hanwa are poised to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but should, if Ford and Hanwa inject new capital into LKE, further reduce the risk of project financing and thus ensure that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade Tier 1 SOP production center around Lake Throssell.
Lately, TMG is completing paints in preparation for the PFS planned for early 2023, adding the start of drilling in Q3 2022, evaporation testing and permitting activities. The effects of these systems will affect the PFS and any long-term resource improvements.
The SOP reference values have increased to approximately $940/t due to recent geopolitical events. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% increased value effects in a $144 million NPV increase in the $364 million task NPV. The increase of approximately 70% compared to the scoping study implies a NPV allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a diversified money company in development, founded in 2010 and indexed to the Australia Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). He has approximately 275 advisers at over two hundred money advisory firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). It became so inspired by IMM that Corporate Connect considered it imperative to publish a follow-up report valuing the company, as The market did not see the great prospects for eftilagimod alfa (efti).
This monitoring report was published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.