ASX 200 reporting season
James Hardie lowers earnings forecast amid market pressures
Hit by high US borrowing costs and tariffs, James Hardie revises its 2026 earnings forecast downward, impacting stock value and highlighting broader trends at Magellan and Breville.
(AI video summary)
This video was created on 20 August for IG audiences by ausbiz.
Key financial results
James Hardie Industries (ASX:JHX)
James Hardie is under scrutiny after projecting full-year earnings below expectations, impacted by high United States (US) borrowing costs and tariffs affecting the housing market. The company now forecasts adjusted operating earnings between $1.05 billion and $1.15 billion for fiscal year (FY) 2026, down from $1.1 billion in 2025.
James Hardie's stock has dropped significantly. North American sales fell 12% to just under $642 million, with adjusted net income decreasing to $127 million from $178 million. The company’s acquisition, despite achieving early synergies, hasn’t eased market concerns due to conservative guidance.
Magellan Financial Group (ASX:MFG)
Magellan reported a 31% decline in FY net profit to $165 million, with an operating profit decrease of 5% to $159 million. The company declared total distributions of $0.733 per share, fully franked, amidst a decrease in assets under management.
Breville Group (ASX:BRG)
Breville reported an 11% revenue increase to $1.69 billion, with a cautionary note on significant input cost increases for the upcoming financial years due to factors affecting US-based sales.
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