Q4 | FY 2026 PERFORMANCE
Building a Better Future for All™
ASX:JHX; NYSE:JHX
Q4 PERFORMANCE
$1,404mm
Net Sales
+45%
Driven by Net Sales
Contribution of AZEK Acquisition
$381mm
Adjusted EBITDA¹
+42%
Driven by Adjusted EBITDA Contribution of AZEK Acquisition
27.1%
Adjusted EBITDA Margin¹
(50bps)
Unfavorable production cost absorption due to market demand and unfavorable weather, partially offset by HOS Savings and Operational Discipline
$0.30
Adjusted Diluted EPS¹
(19%)
We delivered Adjusted EBITDA above our guidance range in the fourth quarter, reflecting disciplined execution and the strength of our business model in a challenging operating environment. Despite unfavorable weather in February and early March that impacted reported results and disrupted construction activity across key regions, the business delivered underlying performance that exceeded expectations."
Mr. Erter continued, "Fiscal 2026 was a transformational year for James Hardie, highlighted by the closing of the AZEK acquisition. As we integrate the businesses, we are seeing continued progress across both cost and commercial synergies, further strengthening our belief in the long-term value creation opportunity from the combination. For the full fiscal year, we delivered solid financial performance despite a challenging operating environment. Despite our markets declining mid-to-high single digits for the year, our organic net sales declined just 2% year over year2. We finished the year with Adjusted EBITDA of $1.27 billion and Adjusted EBITDA margin of 26.2%. We delivered strong flow-through on our cost actions and realized meaningful benefits from the operational initiatives implemented throughout the year, positioning the business for improved margin performance moving forward."
¹ Non-GAAP. Refer to Non-GAAP Financial Measures for reconciliation of Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Diluted EPS to the most comparable GAAP financial measures.
2 Excludes AZEK and the Philippines
Homeowner Focused, Customer and Contractor Driven™
All comparisons are made vs. the comparable period in the prior fiscal year and all amounts presented are in US dollars, unless otherwise noted.
A GLOBAL
GROWTH COMPANY Building a Better Future for All™
ASX:JHX; NYSE:JHX
FULL YEAR PERFORMANCE
LONG-TERM STRATEGY $4,836mmNet Sales
+25%
Driven by Net Sales
Contribution of AZEK Acquisition
$1,266mmAdjusted EBITDA¹
+17%
Driven by Adjusted EBITDA Contribution of AZEK Acquisition partially offset by market softness in North America
26.2%Adjusted EBITDA Margin¹
(160bps)
Unfavorable Production Cost Absorption and Raw Material Inflation, partially offset by HOS Savings and Operational Discipline
$1.09Adjusted Diluted EPS¹
(27%)
Accelerate Material Conversion
Converting inferior materials and accelerating premium products
Drive Channel Expansion
Leveraging expanded portfolio and complimentary
1 Non-GAAP. Refer to Non-GAAP Financial Measures for reconciliation of Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Diluted EPS to the most comparable GAAP financial measures.
SUPERIOR VALUE PROPOSITIONDemand Creation Innovative Solutions Exterior Design Superior Durability Low-Maintenance Trusted Brand
Unrivaled Business Support Localized Manufacturing
geographic focus to accelerate growth
Advance Product Innovation
Developing and delivering the most beautiful and best performing products
Extend Brand Leadership
Establishing James Hardie as the undisputed leader in resilient exterior home solutions
Enhance Homeowner & Pro Journey
Providing a best-in-class, integrated experience as the preferred industry supplier
Hardie Operating System Technology
Homeowner Focused, Customer and Contractor Driven™ Driving Value Creation and Enterprise Efficiencies
Q4 | FY 2026
Non-GAAP Financial Measures(Millions of US dollars) | Quarter and Full | Year | Ended March | 31 | ||
Q4 FY26 | Q4 FY25 | FY26 | FY25 | |||
Net income | $28.5 | $43.6 | $104.0 | $424.0 | ||
Interest, net | 62.3 | 2.9 | 231.1 | 10.3 | ||
Other expense, net | 0.1 | 0.4 | 9.8 | 0.2 | ||
Income tax expense | 17.9 | 15.2 | 102.7 | 221.4 | ||
Depreciation and amortization | 163.0 | 59.4 | 493.5 | 216.2 | ||
Acquisition related expenses | 17.8 | 16.5 | 206.9 | 16.5 | ||
Asbestos related expenses and adjustments | 51.1 | 137.6 | 53.7 | 140.5 | ||
Inventory fair value adjustment | - | - | 47.9 | - | ||
Restructuring, net | 40.2 | (7.0) | 16.2 | 50.3 | ||
Adjusted EBITDA | $380.9 | $268.6 | $1,265.8 | $1,079.4 | ||
(Millions of US dollars, except per share amounts) | Quarter | and Full Year | Ended March 31 | |
Q4 FY26 | Q4 FY25 | FY26 | FY25 | |
Net income | $28.5 | $43.6 | $104.0 | $424.0 |
Asbestos related expenses and adjustments | 51.1 | 137.6 | 53.7 | 140.5 |
AICF interest income | (2.7) | (2.4) | (10.1) | (10.9) |
Restructuring, net | 40.2 | (7.0) | 16.2 | 50.3 |
Pre-close financing costs1 | - | 0.8 | 46.5 | 0.8 |
Acquisition related expenses | 17.8 | 16.5 | 206.9 | 16.5 |
Inventory fair value adjustment | - | - | 47.9 | - |
Amortization of intangible assets resulting from AZEK acquisition | 72.4 | - | 178.7 | - |
Tax adjustments2 | (34.7) | (33.0) | (48.1) | 23.1 |
Adjusted net income | $172.6 | $156.1 | $595.7 | $644.3 |
Quarter and Full Year Ended March 31 | ||||
Q4 FY26 | Q4 FY25 | FY26 | FY25 | |
Net income per common share - diluted | $0.05 | $0.10 | $0.19 | $0.98 |
Asbestos related expenses and adjustments | 0.09 | 0.32 | 0.10 | 0.33 |
AICF interest income | - | - | (0.02) | (0.03) |
Restructuring, net | 0.07 | (0.02) | 0.03 | 0.12 |
Pre-close financing costs1 | - | - | 0.08 | - |
Acquisition related expenses | 0.03 | 0.04 | 0.38 | 0.04 |
Inventory fair value adjustment | - | - | 0.09 | - |
Amortization of intangible assets resulting from AZEK acquisition | 0.12 | - | 0.33 | - |
Tax adjustments2 | (0.06) | (0.08) | (0.09) | 0.05 |
Adjusted diluted earnings per share3 | $0.30 | $0.36 | $1.09 | $1.49 |
Adjusted EBITDA and Adjusted EBITDA margin Adjusted net income and Adjusted diluted earnings per share
Quarter and Full Year Ended March 31 | ||||
Q4 FY26 | Q4 FY25 | FY26 | FY25 | |
Net income margin | 2.0% | 4.5% | 2.2% | 10.9% |
Interest, net | 4.4% | 0.3% | 4.8% | 0.3% |
Other expense, net | - | - | 0.2% | - |
Income tax expense | 1.3% | 1.6% | 2.1% | 5.7% |
Depreciation and amortization | 11.6% | 6.1% | 10.2% | 5.6% |
Acquisition related expenses | 1.3% | 1.7% | 4.3% | 0.4% |
Asbestos related expenses and adjustments | 3.6% | 14.1% | 1.1% | 3.6% |
Inventory fair value adjustment | - | - | 1.0% | - |
Restructuring, net | 2.9% | (0.7)% | 0.3% | 1.3% |
Adjusted EBITDA margin | 27.1% | 27.6% | 26.2% | 27.8% |
¹ Includes pre-close financing interest of $34.9 million as well as an $11.6 million non-cash loss on our interest rate swap incurred in the first quarter of fiscal year 2026.
2 Includes tax adjustments related to the amortization benefit of certain US intangible assets, asbestos, and discrete items relating to the AZEK acquisition, and $18.2 million in respect of the ATO settlement agreement incurred in the second quarter of fiscal year 2026.
3 Weighted average common shares outstanding used in computing diluted net income per common share of 584.7 million and 430.9 million for the three months ended March 31, 2026 and 2025, respectively. Weighted average common shares outstanding used in computing diluted net income per common share of 545.5 million and
432.1 million for the fiscal years ended March 31, 2026 and 2025, respectively.