James Hardie sees Q2 adjusted EPS 26c-27c, consensus 15c

Sees Q2 revenue $1.29B-$1.3B, consensus $1.19B. Sees Q2 adjusted EBITDA $326M-$331M. Aaron Erter, CEO of James Hardie (JHX) said, “Our Siding & Trim sales performance exceeded the expectations reflected in our modeling considerations. Siding & Trim second quarter organic net sales fell low single-digits vs. the prior year, and distributors and dealers reduced inventory less than we had anticipated. Even as single-family new construction remains challenging, our customers’ commitment to ensuring the availability of our products demonstrates the importance of our brand and strong partnerships. We are encouraged by our second quarter results and believe the outlook for Siding & Trim has modestly improved. We will provide an update to our full year guidance through March with our second quarter earnings call in November.”