James Hardie Industries plc (JHX), a provider of exterior home and outdoor living solutions, said Tuesday it expects adjusted earnings for the second quarter to be in the range of $151 million to $157 million, compared with $157 million a year earlier.
Adjusted EPS is forecast between $0.26 and $0.27, down from $0.36 last year.
The company expects second-quarter sales to reach $1.29 billion-$1.30 billion, up from $960.8 million a year ago.
Aaron Erter, CEO of James Hardie 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. ....We are encouraged by our second quarter results and believe the outlook for Siding & Trim has modestly improved."
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