JHX - James Hardie Industries plc (JHX) Q4 2024 Earnings Call Transcript

2024-05-21 17:55:29 ET

James Hardie Industries plc (JHX)

Q4 2024 Results Conference Call

May 20, 2024 07:00 PM ET

Company Participants

Aaron Erter - Chief Executive Officer

Rachel Wilson - Chief Financial Officer

Conference Call Participants

Keith Chau - MST

Lee Power - UBS

Harry Saunders - E&P

Andrew Scott - Morgan Stanley

Brook Campbell-Crawford - Barrenjoey

Daniel Kang - CLSA

Shaurya Visen - Bank of America

Simon Thackray - Jefferies

Sam Seow - Citi

Presentation

Operator

Thank you for standing by, and welcome to the James Hardie Q4 FY '24 Results Call. [Operator Instructions] There will be a presentation followed by a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to Mr. Aaron Erter, CEO. Please go ahead.

Aaron Erter

Thank you, operator. Good morning and good evening to everyone, and welcome to our fourth quarter and total fiscal year 2024 results briefing. Turning to Page 2, you will see our standard cautionary note on forward-looking statements. Please note that the presentation today does contain forward-looking statements and the use of non-GAAP financial information. Also, except where we explicitly state otherwise during our prepared remarks, all references to monetary amounts should be assumed to be in U.S. dollars.

Moving to Page 3, you will see our agenda for today. Joining me is our CFO, Rachel Wilson. For today's call, I will start by providing a strategy and operations update. Rachel will then discuss our financial results and I will return to discuss our outlook, guidance and provide a brief closing. We will then open it up for questions. Before I share an update on our strategy and operations, I would like to take this opportunity to thank all of our team members around the world who remain focused on safely delivering the highest quality products, solutions and services to our customer partners. Our James Hardie team truly represent the very best in our industry and consistently enable our superior value proposition.

Let's start on Page 5 with a brief business update. Our team's focus remains simple; working safely, partnering with our customers, investing in long-term growth and driving profitable share gain. Our fourth quarter results continue to highlight how impactful that focus has been and is reflected in our full year results. For the full year, we achieved record global net sales of just under $4 billion, up 4% versus the prior corresponding period with record global adjusted net income of $708 million, up 17% versus the prior corresponding period. Both our global net sales and adjusted net income results were again supported by volumes in North America that have outperformed the market. For the full year, North American volume was just over 3 billion standard feet, and we delivered that with a record 31.9% EBIT margin....

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