Investing.com-- Shares of James Hardie Industries PLC (ASX: JHX ) tumbled to a one-month low on Wednesday after the building materials company reported a 17% drop in annual net profit and issued cautious guidance, flagging U.S. tariff risks.
For the year ended March 31, James Hardie (NYSE: JHX )’s net profit attributable to shareholders slid to $424 million, down from $510.2 million a year earlier.
Net sales dipped 1% to $3.88 billion, with weak performance in its Asia Pacific fibre cement segment.
Sydney-listed James Hardie stock fell as much as 7% to A$38.50, its lowest since April 24.
CEO Aaron Erter acknowledged "a more challenging macro environment," particularly in North America, where repair-and-remodel demand weakened. The company forecast low single-digit sales and EBITDA growth for fiscal 2026.
The company also highlighted U.S. tariff risks, saying, "Recently announced U.S. tariffs, if maintained, and the potential escalation of trade disputes could adversely affect our revenue and expenses."