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Stock impact report

UPDATE 2-Australia building materials firm James Hardie lifts outlook; shares climb [Reuters]

James Hardie Industries plc American Depositary Shares (Ireland) (JHX) 
US:NYSE Investor Relations: ir.jameshardie.com.au/jh/home.jsp
Company Research Source: Reuters
UPDATE 2-Australia building materials firm James Hardie lifts outlook; shares climb * Third-quarter profit $65.9 mln vs $72.9 mln a year earlier * Forecasts U.S. housing growth, lifts guidance * Shares jump more than 7 pct to two-month high (Recasts on outlook; Adds shares, background and analyst quote) By Tom Westbrook SYDNEY, Feb 5 (Reuters) - The world’s biggest fibre cement maker, James Hardie Industries PLC adjusted its annual profit forecast range a little higher on Tuesday, even as a U.S. housing slowdown knocked 10 percent off quarterly profit, sending its shares up sharply. The company, which sells building materials such as decking and trim besides cement, said soft demand meant sales hardly grew in the three months to Dec. 31 while costs rose, squeezing margins and pushing operating profit down to $65.9 million. The U.S. housing sector, its biggest market, has been stalled by higher mortgage rates in recent months, already prompting Hardie to slash its full-year outlook in Show less Read more
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