| Ireland | 98-0382260 | ||||
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||
1st Floor, Block A One Park Place Upper Hatch Street, Dublin 2 (Address of principal executive offices) | D02 FD79, Ireland (Zip Code) | ||||
| Title of each class: | Trading Symbol: | Name of each exchange on which registered: | ||||||||||||
| Ordinary shares, 0.59 Euro par value per share | JHX | New York Stock Exchange | ||||||||||||
| Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ | ||||||||||||||||||||
| Page | ||||||||
| (Millions of U.S. dollars) | (Unaudited) June 30, 2026 | March 31, 2026 | |||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 289.9 | $ | 269.2 | |||||||
| Restricted cash and cash equivalents | 32.1 | 75.2 | |||||||||
| Restricted short-term investments — Asbestos | 212.9 | 198.5 | |||||||||
| Accounts and other receivables, net | 499.6 | 517.3 | |||||||||
| Inventories | 612.1 | 635.7 | |||||||||
| Prepaid expenses and other current assets | 101.8 | 120.0 | |||||||||
| Assets held for sale | 10.8 | 10.9 | |||||||||
| Total current assets | 1,759.2 | 1,826.8 | |||||||||
| Property, plant and equipment, net | 3,051.4 | 3,084.6 | |||||||||
| Operating lease right-of-use assets | 130.3 | 133.4 | |||||||||
| Finance lease right-of-use assets | 97.7 | 100.8 | |||||||||
| Goodwill | 4,775.8 | 4,780.4 | |||||||||
| Intangible assets, net | 3,260.5 | 3,340.1 | |||||||||
| Deferred income taxes | 71.3 | 73.3 | |||||||||
| Deferred income taxes — Asbestos | 276.3 | 282.5 | |||||||||
| Other assets | 70.9 | 66.7 | |||||||||
| Total assets | $ | 13,493.4 | $ | 13,688.6 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable and accrued liabilities | $ | 699.6 | $ | 712.5 | |||||||
| Accrued payroll and employee benefits | 124.7 | 167.9 | |||||||||
| Operating lease liabilities | 33.6 | 32.9 | |||||||||
| Finance lease liabilities | 6.3 | 5.6 | |||||||||
| Long-term debt, current portion | 43.8 | 43.8 | |||||||||
| Accrued product warranties | 11.1 | 10.7 | |||||||||
| Income taxes payable | 26.5 | 13.1 | |||||||||
| Asbestos liability | 128.8 | 128.3 | |||||||||
| Other liabilities | 35.1 | 42.6 | |||||||||
| Total current liabilities | 1,109.5 | 1,157.4 | |||||||||
| Long-term debt | 4,232.9 | 4,491.2 | |||||||||
| Deferred income taxes | 426.3 | 399.7 | |||||||||
| Operating lease liabilities | 109.5 | 114.3 | |||||||||
| Finance lease liabilities | 95.9 | 97.9 | |||||||||
| Accrued product warranties | 53.9 | 53.3 | |||||||||
| Asbestos liability | 851.4 | 880.3 | |||||||||
| Other liabilities | 73.4 | 69.0 | |||||||||
| Total liabilities | 6,952.8 | 7,263.1 | |||||||||
| Commitments and contingencies (Note 11) | |||||||||||
| Shareholders’ equity: | |||||||||||
Common stock, Euro 0.59 par value, 2.0 billion shares authorized; 580,354,409 shares issued and outstanding at June 30, 2026 and 580,174,308 shares issued and outstanding at March 31, 2026 | 326.8 | 326.7 | |||||||||
| Additional paid-in capital | 4,329.4 | 4,315.4 | |||||||||
| Retained earnings | 1,934.0 | 1,829.7 | |||||||||
| Accumulated other comprehensive loss | (49.6) | (46.3) | |||||||||
| Total shareholders’ equity | 6,540.6 | 6,425.5 | |||||||||
| Total liabilities and shareholders’ equity | $ | 13,493.4 | $ | 13,688.6 | |||||||
Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars, except per share data) | 2026 | 2025 | |||||||||
| Net sales | $ | 1,474.6 | $ | 899.9 | |||||||
| Cost of goods sold | 925.9 | 563.0 | |||||||||
| Gross profit | 548.7 | 336.9 | |||||||||
| Selling, general and administrative expenses | 295.4 | 156.1 | |||||||||
| Research and development expenses | 15.4 | 12.1 | |||||||||
| Restructuring expenses | 5.2 | — | |||||||||
| Acquisition related expenses | 16.6 | 29.4 | |||||||||
| Asbestos adjustments | (1.6) | 0.7 | |||||||||
| Operating income | 217.7 | 138.6 | |||||||||
| Interest, net | 61.5 | 37.8 | |||||||||
| Other (income) expense, net | (1.1) | 11.1 | |||||||||
| Income before income taxes | 157.3 | 89.7 | |||||||||
| Income tax expense | 53.0 | 27.1 | |||||||||
| Net income | $ | 104.3 | $ | 62.6 | |||||||
| Income per share: | |||||||||||
| Basic | $ | 0.18 | $ | 0.15 | |||||||
| Diluted | $ | 0.18 | $ | 0.15 | |||||||
| Weighted average common shares outstanding (Millions): | |||||||||||
| Basic | 580.3 | 429.9 | |||||||||
| Diluted | 584.3 | 431.1 | |||||||||
| Comprehensive income, net of tax: | |||||||||||
| Net income | $ | 104.3 | $ | 62.6 | |||||||
| Currency translation adjustments | (8.6) | 24.3 | |||||||||
| Cash flow hedges | 5.3 | — | |||||||||
| Comprehensive income | $ | 101.0 | $ | 86.9 | |||||||
Three Months Ended June 30, 2026 | |||||||||||||||||||||||||||||
| (Millions of U.S. dollars) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Total | ||||||||||||||||||||||||
Balances as of March 31, 2026 | $ | 326.7 | $ | 4,315.4 | $ | 1,829.7 | $ | (46.3) | $ | 6,425.5 | |||||||||||||||||||
| Net income | — | — | 104.3 | — | 104.3 | ||||||||||||||||||||||||
| Other comprehensive loss | — | — | — | (3.3) | (3.3) | ||||||||||||||||||||||||
| Share-based compensation | — | 12.0 | — | — | 12.0 | ||||||||||||||||||||||||
| Issuance of common stock, net of shares withheld for taxes | 0.1 | 1.0 | — | — | 1.1 | ||||||||||||||||||||||||
| Exercise of vested stock options | — | 1.0 | — | — | 1.0 | ||||||||||||||||||||||||
Balances as of June 30, 2026 | $ | 326.8 | $ | 4,329.4 | $ | 1,934.0 | $ | (49.6) | $ | 6,540.6 | |||||||||||||||||||
Three Months Ended June 30, 2025 | |||||||||||||||||||||||||||||
| (Millions of U.S. dollars) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Total | ||||||||||||||||||||||||
Balances as of March 31, 2025 | $ | 222.1 | $ | 271.9 | $ | 1,725.7 | $ | (58.2) | $ | 2,161.5 | |||||||||||||||||||
| Net income | — | — | 62.6 | — | 62.6 | ||||||||||||||||||||||||
| Other comprehensive income | — | — | — | 24.3 | 24.3 | ||||||||||||||||||||||||
| Share-based compensation | — | 6.9 | — | — | 6.9 | ||||||||||||||||||||||||
| Issuance of common stock, net of shares withheld for taxes | — | 1.0 | — | — | 1.0 | ||||||||||||||||||||||||
Balances as of June 30, 2025 | $ | 222.1 | $ | 279.8 | $ | 1,788.3 | $ | (33.9) | $ | 2,256.3 | |||||||||||||||||||
Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | |||||||||
| Cash Flows from Operating Activities | |||||||||||
| Net income | $ | 104.3 | $ | 62.6 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation and amortization | 168.8 | 56.5 | |||||||||
| Lease expense | 12.5 | 8.3 | |||||||||
| Deferred income taxes | 29.0 | 13.8 | |||||||||
| Share-based compensation | 12.0 | 6.9 | |||||||||
| Asbestos adjustments | (1.6) | 0.7 | |||||||||
| Non-cash restructuring expenses | 1.7 | — | |||||||||
| Non-cash interest expense | 2.9 | 33.6 | |||||||||
| Other, net | 7.3 | 22.1 | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts and other receivables | 56.0 | 77.7 | |||||||||
| Inventories | 26.0 | (26.8) | |||||||||
| Operating lease assets and liabilities, net | (14.3) | (7.9) | |||||||||
| Prepaid expenses and other assets | (20.6) | (16.9) | |||||||||
| Insurance receivable — Asbestos | 0.8 | 0.9 | |||||||||
| Accounts payable and accrued liabilities | (10.8) | 33.3 | |||||||||
| Claims and handling costs paid — Asbestos | (33.1) | (29.3) | |||||||||
| Income taxes payable | 13.6 | 4.6 | |||||||||
| Other accrued liabilities and interest | (10.5) | (33.2) | |||||||||
| Net cash provided by operating activities | $ | 344.0 | $ | 206.9 | |||||||
| Cash Flows from Investing Activities | |||||||||||
| Purchases of property, plant and equipment | $ | (89.8) | $ | (103.2) | |||||||
| Capitalized interest | — | (2.1) | |||||||||
| Purchase of restricted investments — Asbestos | (76.1) | (56.6) | |||||||||
| Proceeds from restricted investments — Asbestos | 62.3 | 56.6 | |||||||||
| Net cash used in investing activities | $ | (103.6) | $ | (105.3) | |||||||
| Cash Flows from Financing Activities | |||||||||||
| Proceeds from senior secured notes | $ | — | $ | 1,700.0 | |||||||
| Proceeds from revolving facility | 530.0 | — | |||||||||
| Repayments of term loans | (10.9) | (290.6) | |||||||||
| Repayments of revolving facility | (380.0) | — | |||||||||
| Repayment of senior unsecured notes | (400.0) | — | |||||||||
| Debt issuance costs paid | — | (6.3) | |||||||||
| Proceeds from exercise of vested stock options | 1.0 | — | |||||||||
| Repayment of finance lease obligations | (1.4) | (0.3) | |||||||||
| Cash paid for shares withheld for taxes | (0.1) | — | |||||||||
| Net cash (used in) provided by financing activities | $ | (261.4) | $ | 1,402.8 | |||||||
| Effects of exchange rate changes on cash and cash equivalents, restricted cash and restricted cash — Asbestos | $ | (1.4) | $ | 1.8 | |||||||
| Net (decrease) increase in cash and cash equivalents, restricted cash and restricted cash — Asbestos | (22.4) | 1,506.2 | |||||||||
| Cash and cash equivalents, restricted cash and restricted cash — Asbestos at beginning of period | 344.4 | 605.6 | |||||||||
| Cash and cash equivalents, restricted cash and restricted cash — Asbestos at end of period | $ | 322.0 | $ | 2,111.8 | |||||||
| Non-Cash Investing and Financing Activities | |||||||||||
| Capital expenditures incurred but not yet paid | $ | 27.1 | $ | 19.6 | |||||||
| Non-cash ROU assets obtained in exchange for new lease liabilities | $ | 9.4 | $ | 2.7 | |||||||
| Supplemental Disclosure of Cash Flow Activities | |||||||||||
| Cash paid for interest | $ | 41.2 | $ | 4.6 | |||||||
| June 30, | March 31, | ||||||||||
| (Millions of U.S. dollars) | 2026 | 2026 | |||||||||
| Cash and cash equivalents | $ | 289.9 | $ | 269.2 | |||||||
| Restricted cash and cash equivalents | 5.0 | 5.0 | |||||||||
| Restricted cash and cash equivalents — Asbestos | 27.1 | 70.2 | |||||||||
| Total | $ | 322.0 | $ | 344.4 | |||||||
| Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars and shares, except per share data) | 2026 | 2025 | |||||||||
| Net income | $ | 104.3 | $ | 62.6 | |||||||
| Basic common shares outstanding | 580.3 | 429.9 | |||||||||
| Dilutive effect of stock awards | 4.0 | 1.2 | |||||||||
| Diluted common shares outstanding | 584.3 | 431.1 | |||||||||
| Net income per share of common stock: | |||||||||||
| Basic | $ | 0.18 | $ | 0.15 | |||||||
| Diluted | $ | 0.18 | $ | 0.15 | |||||||
| (Millions of U.S. dollars) | Assets Acquired and Liabilities Assumed | |||||||
| Cash and cash equivalents | $ | 330.1 | ||||||
| Accounts and other receivables | 102.4 | |||||||
| Inventories | 280.0 | |||||||
| Prepaid expenses and other current assets | 21.7 | |||||||
| Property, plant and equipment | 838.2 | |||||||
| Intangible assets | 3,370.0 | |||||||
| Other assets - non-current | 135.1 | |||||||
| Total assets acquired | $ | 5,077.5 | ||||||
| Accounts payable and accrued liabilities | $ | 211.2 | ||||||
| Other liabilities - current | 74.0 | |||||||
| Deferred tax liabilities, net | 813.0 | |||||||
| Other liabilities - non-current | 158.1 | |||||||
| Total liabilities assumed | $ | 1,256.3 | ||||||
| Net assets acquired | $ | 3,821.2 | ||||||
| Amount of goodwill recognized | $ | 4,572.3 | ||||||
| Total consideration transferred | $ | 8,393.5 | ||||||
| Three Months Ended June 30, | ||||||||
| (Millions of U.S. dollars) | 2025 (Unaudited) | |||||||
| Revenue | $ | 1,316.5 | ||||||
| Net income | $ | 72.5 | ||||||
| Three Months Ended June 30, | ||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | ||||||||||||
| Siding & Trim | $ | 859.8 | $ | 641.8 | ||||||||||
| Deck, Rail & Accessories | 305.1 | — | ||||||||||||
| Australia & New Zealand | 153.3 | 121.6 | ||||||||||||
| Europe | 156.4 | 136.5 | ||||||||||||
| Total | $ | 1,474.6 | $ | 899.9 | ||||||||||
| June 30, | March 31, | ||||||||||
| (Millions of U.S. dollars) | 2026 | 2026 | |||||||||
| Finished goods | $ | 433.7 | $ | 453.0 | |||||||
| Work-in-process | 51.0 | 53.5 | |||||||||
| Raw materials and supplies | 144.0 | 145.1 | |||||||||
| Provision for obsolete finished goods and raw materials | (16.6) | (15.9) | |||||||||
| Total | $ | 612.1 | $ | 635.7 | |||||||
| June 30, | March 31, | ||||||||||
| (Millions of U.S. dollars) | 2026 | 2026 | |||||||||
| Land | $ | 122.8 | $ | 121.7 | |||||||
| Buildings | 1,040.4 | 995.2 | |||||||||
| Machinery and equipment | 3,395.8 | 3,203.3 | |||||||||
| Construction in progress | 376.3 | 555.1 | |||||||||
| Property, plant and equipment, at cost | 4,935.3 | 4,875.3 | |||||||||
| Less accumulated depreciation | (1,883.9) | (1,790.7) | |||||||||
| Property, plant and equipment, net | $ | 3,051.4 | $ | 3,084.6 | |||||||
| (Millions of U.S. dollars) | Europe | Siding & Trim | Deck, Rail & Accessories | Total | |||||||||||||||||||
Balance - March 31, 2026 | $ | 205.0 | $ | 1,141.2 | $ | 3,434.2 | $ | 4,780.4 | |||||||||||||||
| Foreign exchange impact | (1.5) | — | — | (1.5) | |||||||||||||||||||
| Adjustments to Acquisition of The AZEK Company | — | (0.8) | (2.3) | (3.1) | |||||||||||||||||||
Balance - June 30, 2026 | $ | 203.5 | $ | 1,140.4 | $ | 3,431.9 | $ | 4,775.8 | |||||||||||||||
| June 30, | March 31, | ||||||||||
| (Millions of U.S. dollars) | 2026 | 2026 | |||||||||
| Trade names | $ | 117.3 | $ | 118.2 | |||||||
| Other | 7.6 | 7.4 | |||||||||
| Total | $ | 124.9 | $ | 125.6 | |||||||
June 30, 2026 | ||||||||||||||||||||
| (Millions of U.S. dollars) | Lives in Years | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||
| Customer Relationships | 2 to 18 | $ | 2,880.0 | $ | (228.4) | $ | 2,651.6 | |||||||||||||
| Trade Names | 5 to 15 | 330.0 | (26.7) | 303.3 | ||||||||||||||||
| Technology | 10 | 210.0 | (29.3) | 180.7 | ||||||||||||||||
| Total | $ | 3,420.0 | $ | (284.4) | $ | 3,135.6 | ||||||||||||||
March 31, 2026 | ||||||||||||||||||||
| (Millions of U.S. dollars) | Lives in Years | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||
| Customer Relationships | 2 to 18 | $ | 2,880.3 | $ | (165.8) | $ | 2,714.5 | |||||||||||||
| Trade Names | 5 to 15 | 330.0 | (19.6) | 310.4 | ||||||||||||||||
| Technology | 10 | 210.0 | (20.4) | 189.6 | ||||||||||||||||
| Total | $ | 3,420.3 | $ | (205.8) | $ | 3,214.5 | ||||||||||||||
| June 30, | March 31, | ||||||||||
| (Millions of U.S. dollars) | 2026 | 2026 | |||||||||
| Secured debt: | |||||||||||
5.875% Senior notes due 2031 | $ | 700.0 | $ | 700.0 | |||||||
6.125% Senior notes due 2032 | 1,000.0 | 1,000.0 | |||||||||
Revolving Facility1 | 150.0 | — | |||||||||
Term A-1 Facility1, due 2028 | 750.0 | 750.0 | |||||||||
Term A-2 Facility1, due 2030 | 1,706.3 | 1,717.2 | |||||||||
| Unsecured debt: | |||||||||||
5.000% Senior notes due 2028 | — | 400.0 | |||||||||
| Unamortized debt issuance costs | (29.6) | (32.2) | |||||||||
| Total debt | 4,276.7 | 4,535.0 | |||||||||
| Less current portion | (43.8) | (43.8) | |||||||||
| Total Long-term debt | $ | 4,232.9 | $ | 4,491.2 | |||||||
| Weighted average interest rate of total debt | 5.5 | % | 5.5 | % | |||||||
Fair value of Senior unsecured notes (Level 1) | $ | — | $ | 395.0 | |||||||
Fair value of Senior secured notes (Level 1) | $ | 1,706.8 | $ | 1,685.5 | |||||||
| (Millions of U.S. dollars) | Asbestos Liability | Insurance Receivables | Restricted Cash and Investments | Other Assets and Liabilities | Net Unfunded AFFA Liability | Deferred Tax Assets | Income Tax Payable | Net Unfunded AFFA Liability, net of tax | |||||||||||||||||||||||||||||||||||||||
Opening Balance - March 31, 2026 | $ | (1,008.6) | $ | 24.3 | $ | 268.7 | $ | 0.2 | $ | (715.4) | $ | 282.5 | $ | 40.2 | $ | (392.7) | |||||||||||||||||||||||||||||||
| Asbestos claims paid | 32.8 | — | (32.8) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| AICF claims-handling costs incurred (paid) | 0.3 | — | (0.3) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| AICF operating costs paid - non claims-handling | — | — | (0.6) | — | (0.6) | — | — | (0.6) | |||||||||||||||||||||||||||||||||||||||
| Insurance recoveries | — | (0.8) | 0.8 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Movement in income tax payable | — | — | — | — | — | (6.8) | (34.8) | (41.6) | |||||||||||||||||||||||||||||||||||||||
| Other movements | — | — | 2.4 | 0.8 | 3.2 | (0.7) | (0.1) | 2.4 | |||||||||||||||||||||||||||||||||||||||
| Effect of foreign exchange | (4.7) | 0.2 | 1.8 | — | (2.7) | 1.3 | 1.2 | (0.2) | |||||||||||||||||||||||||||||||||||||||
Closing Balance - June 30, 2026 | $ | (980.2) | $ | 23.7 | $ | 240.0 | $ | 1.0 | $ | (715.5) | $ | 276.3 | $ | 6.5 | $ | (432.7) | |||||||||||||||||||||||||||||||
| Date Invested | Maturity Date | Interest Rate | A$ Millions | |||||||||||||||||
| April 2026 | April 7, 2027 | 5.38% | 110.0 | |||||||||||||||||
| January 2026 | January 27, 2027 | 4.78% | 70.0 | |||||||||||||||||
| October 2025 | October 16, 2026 | 4.14% | 70.0 | |||||||||||||||||
| July 2025 | July 24, 2026 | 4.14% | 60.0 | |||||||||||||||||
| Fair Value as of | |||||||||||||||||||||||
| (Millions of U.S. dollars) | Fair Value Hierarchy | Balance Sheet Location | June 30, 2026 | March 31, 2026 | |||||||||||||||||||
| Interest rate swap | Level 2 | Other non-current assets (Other current liabilities) | $ | 3.0 | $ | (4.7) | |||||||||||||||||
Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | |||||||||
| Liability Awards | $ | 3.2 | $ | 4.0 | |||||||
| Equity Awards | 12.0 | 6.9 | |||||||||
| Total share-based compensation expense | $ | 15.2 | $ | 10.9 | |||||||
| (Millions of U.S. dollars) | Cash Flow Hedges | Pension Actuarial Gain | Foreign Currency Translation Adjustments | Total | ||||||||||||||||||||||
Balance at March 31, 2026 | $ | 3.4 | $ | 2.4 | $ | (52.1) | $ | (46.3) | ||||||||||||||||||
| Change in component, net of tax | 6.1 | — | (8.6) | (2.5) | ||||||||||||||||||||||
| Reclassification from other comprehensive loss into net income, net of tax | (0.8) | — | — | (0.8) | ||||||||||||||||||||||
Balance at June 30, 2026 | $ | 8.7 | $ | 2.4 | $ | (60.7) | $ | (49.6) | ||||||||||||||||||
| Operating Income | ||||||||||||||||||||||||||||||||
| (Millions of U.S. dollars) | Siding & Trim | Deck, Rail & Accessories | Australia & New Zealand | Europe | Total | |||||||||||||||||||||||||||
For the three months ended June 30, 2026 | ||||||||||||||||||||||||||||||||
| Net sales | $ | 859.8 | $ | 305.1 | $ | 153.3 | $ | 156.4 | $ | 1,474.6 | ||||||||||||||||||||||
| Cost of goods sold | 525.7 | 208.2 | 86.1 | 105.9 | 925.9 | |||||||||||||||||||||||||||
| Gross profit | 334.1 | 96.9 | 67.2 | 50.5 | 548.7 | |||||||||||||||||||||||||||
| Selling, general and administrative expenses | 105.4 | 92.1 | 19.1 | 29.4 | 246.0 | |||||||||||||||||||||||||||
Restructuring expenses 1 | — | 5.2 | — | — | 5.2 | |||||||||||||||||||||||||||
Other expenses 2 | 13.8 | 2.9 | 1.3 | 0.9 | 18.9 | |||||||||||||||||||||||||||
| Segment operating income (loss) | $ | 214.9 | $ | (3.3) | $ | 46.8 | $ | 20.2 | $ | 278.6 | ||||||||||||||||||||||
| Reconciliation to consolidated net income | ||||||||||||||||||||||||||||||||
General Corporate costs 3, 4 | (60.9) | |||||||||||||||||||||||||||||||
| Interest, net | (61.5) | |||||||||||||||||||||||||||||||
| Other income, net | 1.1 | |||||||||||||||||||||||||||||||
| Income tax expense | (53.0) | |||||||||||||||||||||||||||||||
| Consolidated net income | $ | 104.3 | ||||||||||||||||||||||||||||||
| Operating Income | ||||||||||||||||||||||||||
| (Millions of U.S. dollars) | Siding & Trim | Australia & New Zealand | Europe | Total | ||||||||||||||||||||||
For the three months ended June 30, 2025 | ||||||||||||||||||||||||||
| Net sales | $ | 641.8 | $ | 121.6 | $ | 136.5 | $ | 899.9 | ||||||||||||||||||
| Cost of goods sold | 401.3 | 69.3 | 92.4 | 563.0 | ||||||||||||||||||||||
| Gross profit | 240.5 | 52.3 | 44.1 | 336.9 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 76.0 | 14.2 | 28.2 | 118.4 | ||||||||||||||||||||||
Other expenses 1 | 3.3 | 0.3 | 0.8 | 4.4 | ||||||||||||||||||||||
| Segment operating income | $ | 161.2 | $ | 37.8 | $ | 15.1 | $ | 214.1 | ||||||||||||||||||
| Reconciliation to consolidated net income | ||||||||||||||||||||||||||
General Corporate 2 and Unallocated R&D costs | (75.5) | |||||||||||||||||||||||||
| Interest, net | (37.8) | |||||||||||||||||||||||||
| Other expense, net | (11.1) | |||||||||||||||||||||||||
| Income tax expense | (27.1) | |||||||||||||||||||||||||
| Consolidated net income | $ | 62.6 | ||||||||||||||||||||||||
Depreciation and Amortization Three Months Ended June 30, | ||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | ||||||||||||
| Siding & Trim | $ | 68.5 | $ | 43.6 | ||||||||||
| Deck, Rail & Accessories | 80.9 | — | ||||||||||||
| Australia & New Zealand | 6.7 | 5.2 | ||||||||||||
| Europe | 10.2 | 6.8 | ||||||||||||
| General Corporate and R&D | 2.5 | 0.9 | ||||||||||||
| Total | $ | 168.8 | $ | 56.5 | ||||||||||
Capital Expenditures Three Months Ended June 30, | ||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | ||||||||||||
| Siding & Trim | $ | 49.2 | $ | 73.9 | ||||||||||
| Deck, Rail & Accessories | 12.9 | — | ||||||||||||
| Australia & New Zealand | 14.3 | 13.7 | ||||||||||||
| Europe | 10.3 | 12.9 | ||||||||||||
| General Corporate and R&D | 3.1 | 2.7 | ||||||||||||
| Total | $ | 89.8 | $ | 103.2 | ||||||||||
| Three Months Ended June 30, | ||||||||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | Change | |||||||||||||||||
| Net sales | $ | 1,474.6 | $ | 899.9 | 64 | % | ||||||||||||||
| Cost of goods sold | 925.9 | 563.0 | 64 | % | ||||||||||||||||
| Gross profit | 548.7 | 336.9 | 63 | % | ||||||||||||||||
| Gross margin (%) | 37.2 | 37.4 | (0.2) | pts | ||||||||||||||||
| Selling, general and administrative expenses | 295.4 | 156.1 | 89 | % | ||||||||||||||||
| Research and development expenses | 15.4 | 12.1 | 27 | % | ||||||||||||||||
| Restructuring expenses | 5.2 | — | 100 | % | ||||||||||||||||
| Acquisition related expenses | 16.6 | 29.4 | (44 | %) | ||||||||||||||||
| Asbestos adjustments | (1.6) | 0.7 | (329 | %) | ||||||||||||||||
| Operating income | 217.7 | 138.6 | 57 | % | ||||||||||||||||
| Operating income margin (%) | 14.8 | 15.4 | (0.6) | pts | ||||||||||||||||
| Interest, net | 61.5 | 37.8 | 63 | % | ||||||||||||||||
| Other (income) expense, net | (1.1) | 11.1 | (110%) | |||||||||||||||||
| Income before income taxes | 157.3 | 89.7 | 75 | % | ||||||||||||||||
| Income tax expense | 53.0 | 27.1 | 96 | % | ||||||||||||||||
| Net income | 104.3 | 62.6 | 67 | % | ||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | Change | |||||||||||||||||
| Net sales | $ | 859.8 | $ | 641.8 | 34% | |||||||||||||||
| Cost of goods sold | 525.7 | 401.3 | 31% | |||||||||||||||||
| Gross profit | 334.1 | 240.5 | 39% | |||||||||||||||||
| Gross margin (%) | 38.9 | 37.5 | 1.4 pts | |||||||||||||||||
| Selling, general and administrative expenses | 105.4 | 76.0 | 39% | |||||||||||||||||
| Research and development expenses | 9.5 | 2.3 | 313% | |||||||||||||||||
| Acquisition related expenses | 4.3 | 1.0 | 330% | |||||||||||||||||
| Operating income | 214.9 | 161.2 | 33% | |||||||||||||||||
| Operating income margin (%) | 25.0 | 25.1 | (0.1 pts) | |||||||||||||||||
| Three Months Ended June 30, | ||||||||
| (Millions of U.S. dollars) | 2026 | |||||||
| Net sales | $ | 305.1 | ||||||
| Cost of goods sold | 208.2 | |||||||
| Gross profit | 96.9 | |||||||
| Gross margin (%) | 31.8 | |||||||
| Selling, general and administrative expenses | 92.1 | |||||||
| Research and development expenses | 2.9 | |||||||
| Restructuring expenses | 5.2 | |||||||
| Operating loss | (3.3) | |||||||
| Operating loss margin (%) | (1.1) | |||||||
| Three Months Ended June 30, | ||||||||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | Change | |||||||||||||||||
| Net sales | $ | 153.3 | $ | 121.6 | 26% | |||||||||||||||
| Cost of goods sold | 86.1 | 69.3 | 24% | |||||||||||||||||
| Gross profit | 67.2 | 52.3 | 28% | |||||||||||||||||
| Gross margin (%) | 43.8 | 43.0 | 0.8 pts | |||||||||||||||||
| Selling, general and administrative expenses | 19.1 | 14.2 | 35% | |||||||||||||||||
| Research and development expenses | 1.3 | 0.3 | 333% | |||||||||||||||||
| Operating income | 46.8 | 37.8 | 24% | |||||||||||||||||
| Operating income margin (%) | 30.5 | 31.1 | (0.6 pts) | |||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | Change | Change | ||||||||||||||||
| Net sales | $ | 156.4 | $ | 136.5 | 15 | % | ||||||||||||||
| Cost of goods sold | 105.9 | 92.4 | 15 | % | ||||||||||||||||
| Gross profit | 50.5 | 44.1 | 15 | % | ||||||||||||||||
Gross margin (%) | 32.3 | 32.3 | — | pts | ||||||||||||||||
| Selling, general and administrative expenses | 29.4 | 28.2 | 4 | % | ||||||||||||||||
| Research and development expenses | 0.9 | 0.8 | 13 | % | ||||||||||||||||
| Operating income | 20.2 | 15.1 | 34 | % | ||||||||||||||||
| Operating income margin (%) | 12.9 | 11.1 | 1.8 | pts | ||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | Change | |||||||||||||||||
General Corporate costs1 | $ | 60.9 | $ | 75.5 | (19%) | |||||||||||||||
____________ | ||||||||||||||||||||
1.First quarter fiscal year 2026 includes unallocated R&D costs. | ||||||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||
| (Millions of U.S. dollars, except per share amounts) | 2026 | 2025 | ||||||||||||
| GAAP Financial Measures: | ||||||||||||||
| Net income | $ | 104.3 | $ | 62.6 | ||||||||||
| Net income per common share - diluted | 0.18 | 0.15 | ||||||||||||
| Net income margin | 7.1 | % | 7.0 | % | ||||||||||
| Net cash provided by operating activities | $ | 344.0 | $ | 206.9 | ||||||||||
| Net cash used in investing activities | $ | (103.6) | $ | (105.3) | ||||||||||
| Net cash (used in) provided by financing activities | $ | (261.4) | $ | 1,402.8 | ||||||||||
| Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars, except per share amounts) | 2026 | 2025 | |||||||||
| Non-GAAP Financial Measures: | |||||||||||
| Adjusted Net Income | $ | 209.3 | $ | 136.1 | |||||||
| Adjusted Diluted Earnings Per Share | 0.36 | 0.32 | |||||||||
| Adjusted EBITDA | $ | 422.1 | $ | 236.4 | |||||||
| Adjusted EBITDA Margin | 28.6 | % | 26.3 | % | |||||||
| Free Cash Flow | $ | 254.2 | $ | 103.7 | |||||||
| Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars, except per share amounts) | 2026 | 2025 | |||||||||
| Net income | $ | 104.3 | $ | 62.6 | |||||||
| Asbestos related expenses and adjustments | (1.0) | 1.0 | |||||||||
| AICF interest income | (3.3) | (2.6) | |||||||||
| Restructuring expenses | 5.2 | — | |||||||||
Pre-close financing costs1 | — | 46.5 | |||||||||
| Acquisition related expenses | 16.6 | 29.4 | |||||||||
| Amortization of intangible assets resulting from AZEK acquisition | 77.6 | — | |||||||||
Share-based compensation expense2 | 14.8 | 10.9 | |||||||||
Tax impact of adjustments3 | (4.9) | (11.7) | |||||||||
| Adjusted Net Income | $ | 209.3 | $ | 136.1 | |||||||
| Three Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net income per common share - diluted | $ | 0.18 | $ | 0.15 | |||||||
| Asbestos related expenses and adjustments | — | — | |||||||||
| AICF interest income | (0.01) | (0.01) | |||||||||
| Restructuring expenses | 0.01 | — | |||||||||
Pre-close financing costs1 | — | 0.10 | |||||||||
| Acquisition related expenses | 0.03 | 0.07 | |||||||||
| Amortization of intangible assets resulting from AZEK acquisition | 0.13 | — | |||||||||
Share-based compensation expense2 | 0.03 | 0.03 | |||||||||
Tax impact of adjustments3 | (0.01) | (0.02) | |||||||||
Adjusted Diluted Earnings Per Share4 | $ | 0.36 | $ | 0.32 | |||||||
____________ | |||||||||||
1.The first quarter of fiscal year 2026 includes pre-close financing interest of $34.9 million and $11.6 million non-cash loss on our interest rate swap. 2.Effective as of June 30, 2026, we revised the definition of Adjusted Net Income and Adjusted Diluted Earnings Per Share to exclude share-based compensation expense. For the three months ended June 30, 2026, share-based compensation expense of $0.4 million is included in acquisition related expenses. The prior period has been recast to reflect the change. 3.Includes tax adjustments related to the amortization of certain U.S. intangible assets, asbestos, share-based compensation and discrete items relating to the AZEK acquisition. 4.Weighted average common shares outstanding used in computing diluted net income per common share of 584.3 million and 431.1 million for the three months ended June 30, 2026 and 2025, respectively. | |||||||||||
| Three Months Ended June 30, | |||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | |||||||||
| Net income | $ | 104.3 | $ | 62.6 | |||||||
| Interest, net | 61.5 | 37.8 | |||||||||
| Other (income) expense, net | (1.1) | 11.1 | |||||||||
| Income tax expense | 53.0 | 27.1 | |||||||||
| Depreciation and amortization | 168.8 | 56.5 | |||||||||
| Acquisition related expenses | 16.6 | 29.4 | |||||||||
| Asbestos related expenses and adjustments | (1.0) | 1.0 | |||||||||
| Restructuring expenses | 5.2 | — | |||||||||
Share-based compensation expense1 | 14.8 | 10.9 | |||||||||
| Adjusted EBITDA | $ | 422.1 | $ | 236.4 | |||||||
| Three Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net income margin | 7.1 | % | 7.0 | % | |||||||
| Interest, net | 4.2 | % | 4.2 | % | |||||||
| Other (income) expense, net | (0.1) | % | 1.2 | % | |||||||
| Income tax expense | 3.6 | % | 3.0 | % | |||||||
| Depreciation and amortization | 11.4 | % | 6.3 | % | |||||||
| Acquisition related expenses | 1.1 | % | 3.3 | % | |||||||
| Asbestos related expenses and adjustments | (0.1) | % | 0.1 | % | |||||||
| Restructuring expenses | 0.4 | % | — | % | |||||||
Share-based compensation expense1 | 1.0 | % | 1.2 | % | |||||||
| Adjusted EBITDA Margin | 28.6 | % | 26.3 | % | |||||||
____________ | |||||||||||
1.Effective as of June 30, 2026, we revised the definition of Adjusted EBITDA and Adjusted EBITDA Margin to exclude share-based compensation expense. For the three months ended June 30, 2026, share-based compensation expense of $0.4 million is included in acquisition related expenses. The prior period has been recast to reflect the change. | |||||||||||
| Three Months Ended June 30, | ||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | ||||||
| Net cash provided by operating activities | $ | 344.0 | $ | 206.9 | ||||
| Purchases of property, plant and equipment | (89.8) | (103.2) | ||||||
| Free Cash Flow | $ | 254.2 | $ | 103.7 | ||||
| Net cash used in investing activities | $ | (103.6) | $ | (105.3) | ||||
| Net cash (used in) provided by financing activities | $ | (261.4) | $ | 1,402.8 | ||||
| Three Months Ended June 30, | ||||||||||||||||||||||||||
| (Millions of U.S. dollars) | 2026 | 2025 | Change | Change % | ||||||||||||||||||||||
| Net cash provided by operating activities | $ | 344.0 | $ | 206.9 | $ | 137.1 | 66 | |||||||||||||||||||
| Net cash used in investing activities | (103.6) | (105.3) | 1.7 | 2 | ||||||||||||||||||||||
| Net cash (used in) provided by financing activities | (261.4) | 1,402.8 | (1,664.2) | (119) | ||||||||||||||||||||||
| Exhibit No. | Exhibit Name | Originally Filed as Exhibit No. | Filing1 | |||||||||||||||||
| 3.1 | 1.1 | Form 20-F filed on May 18, 2021 | ||||||||||||||||||
| 3.2 | 1.2 | Form 20-F filed on May 18, 2021 | ||||||||||||||||||
| 4.1 | 4.4 | Form 10-K filed on May 19, 2026 | ||||||||||||||||||
| 4.2 | 4.5 | Form 10-K filed on May 19, 2026 | ||||||||||||||||||
| 4.3 | 4.6 | Form 10-K filed on May 19, 2026 | ||||||||||||||||||
| 4.4 | 4.7 | Form 10-K filed on May 19, 2026 | ||||||||||||||||||
| 4.5 | 4.8 | Form 10-K filed on May 19, 2026 | ||||||||||||||||||
10.1*† | ||||||||||||||||||||
10.2*† | ||||||||||||||||||||
10.3*† | ||||||||||||||||||||
| 31.1* | ||||||||||||||||||||
| 31.2* | ||||||||||||||||||||
| 32** | ||||||||||||||||||||
| Exhibit No. | Exhibit Name | Originally Filed as Exhibit No. | Filing1 | |||||||||||||||||
| 101.INS* | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) | |||||||||||||||||||
| 101.SCH* | Inline XBRL Taxonomy Extension Schema Document | |||||||||||||||||||
| 101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |||||||||||||||||||
| 101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document | |||||||||||||||||||
| 101.LAB* | Inline XBRL Taxonomy Extension Labels Linkbase Document | |||||||||||||||||||
| 101.PRE* | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |||||||||||||||||||
| 104* | Cover Page Interactive Data File (formatted as Inline XBRL and included as part of the Exhibit 101 Inline XBRL Document Set) | |||||||||||||||||||
____________ | ||||||||||||||||||||
| JAMES HARDIE INDUSTRIES plc | |||||||||||
Date: August 6, 2026 | By: | /s/ RYAN LADA | |||||||||
| Ryan Lada | |||||||||||
| Chief Financial Officer | |||||||||||
| (Principal Financial Officer) | |||||||||||
Date: August 6, 2026 | /s/ Aaron Erter | ||||
| Aaron Erter | |||||
| Chief Executive Officer and Director | |||||
| (Principal Executive Officer) | |||||
Date: August 6, 2026 | /s/ Ryan Lada | ||||
| Ryan Lada | |||||
| Chief Financial Officer | |||||
| (Principal Financial Officer) | |||||
Date: August 6, 2026 | /s/ Aaron Erter | |||||||
| Aaron Erter | ||||||||
| Chief Executive Officer and Director | ||||||||
| (Principal Executive Officer) | ||||||||
| /s/ Ryan Lada | ||||||||
| Ryan Lada | ||||||||
| Chief Financial Officer | ||||||||
| (Principal Financial Officer) | ||||||||