The James Hardie Industries plc share price has crashed 6% in early morning trade on Wednesday.
Despite the tumble, the shares are still up around 20% year to date and 24% higher than a year ago.
As a result, management is able to reaffirm the company's second quarter and FY27 sales and adjusted EBITDA guidance, and raise its FY27 free cash flow guidance to more than US$600 million, up from US$500 million+ before.
Elsewhere, James Hardie said that it is accelerating the integration with AZEK, achieving faster-than-expected cost synergy targets.
The James Hardie share price had rallied strongly through June to August, reaching a 52-week high of $44.12 early last month.
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The James Hardie Industries plc share price has crashed 6% in early morning trade on Wednesday.
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The James Hardie Industries plc share price has crashed 6% in early morning trade on Wednesday.
The shares are changing hands at $37 a piece.
Despite the tumble, the shares are still up around 20% year to date and 24% higher than a year ago.
The decline comes off the back of the company's Investor Day presentation, which was posted to the ASX ahead of the market open this morning.
As a result, management is able to reaffirm the company's second quarter and FY27 sales and adjusted EBITDA guidance, and raise its FY27 free cash flow guidance to more than US$600 million, up from US$500 million+ before.
The company also said that it is targeting annual organic growth of 4% to 7% above market, with compounding earnings.
Elsewhere, James Hardie said that it is accelerating the integration with AZEK, achieving faster-than-expected cost synergy targets.
James Hardie is also pressing ahead with the divestment of its European operations for about US$980 million. The proceeds of which are already earmarked to pay down debt and fund share buybacks.
The James Hardie share price had rallied strongly through June to August, reaching a 52-week high of $44.12 early last month.
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