2308 GMT - James Hardie Industries' updated FY 2026 outlook catches RBC Capital Markets a little off guard. James Hardie is planning for market volumes in North America to contract in FY 2026, including a fourth consecutive year of declines in large-ticket repair & remodel activity. North America represents around three-quarters of James Hardie's net sales. "We view its comments on R&R markets being worse than new construction as somewhat surprising," analyst Matthew McKellar says. RBC expects a mid-single digit decline in single-family starts in 2025. It also projects slight growth in repair & remodel activity. "Although we appreciate there could be additional pressure on large-ticket R&R in an uncertain macro environment," RBC says. It has a "neutral" call on James Hardie. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 20, 2025 19:08 ET (23:08 GMT)
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