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Record Global Net Sales of US$3.8 Billion for the Fiscal Year
Global Adjusted Net Income of US$605.5 Million for the Fiscal Year
Fourth Quarter Adjusted Net Income of US$146.2 Million, up 13% sequentially from the Third Quarter
James Hardie Industries plc (JHXJHX, today announced results for its fourth quarter and full year ending 31 March 2023.
Full Year Fiscal Year 2023 Highlights, Compared to Full Year Fiscal Year 2022, as applicable:
- Global Net Sales increased 4% to a record US$3,777.1 million
- North America Fiber Cement Segment: Net Sales increased 9% to a record US$2,787.6 million, and EBIT increased 4% to a record US$767.5 million, at an EBIT margin of 27.5%
- Asia Pacific Fiber Cement Segment: Net Sales increased 1% to a record A$787.0 million at an EBIT margin of 26.5%
- Europe Building Products Segment: Net Sales increased 3% to a record €431.8 million at an EBIT margin of 5.8%
Fourth Quarter Fiscal Year 2023 Highlights, Compared to Fourth Quarter Fiscal Year 2022, as applicable:
- Global Net Sales decreased 5% to US$917.8 million with Price/Mix growth of +8% as all three regions delivered value added solutions to our customers
- Global Adjusted Net Income of US$146.2 million, with an Adjusted EBITDA margin of 25.4%
- North America Fiber Cement Segment: Net Sales of US$651.5 million with Price/Mix growth of +8%, at an EBIT margin of 29.0%
- Asia Pacific Fiber Cement Segment: Net Sales increased 2% to A$204.6 million and EBIT increased 12% to A$59.1 million at an EBIT margin of 28.9%
- Europe Building Products Segment: Net Sales increased 2% to €117.8 million with Price/Mix growth of +14% at an EBIT margin of 6.7%
Speaking to the results, James Hardie CEO Aaron Erter said, “Our team executed successfully and closed out fiscal year 2023, delivering record net sales globally and in all three regions in local currency for the full year. In addition, we delivered full year Adjusted Net Income and Operating Cash Flows of…
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