James Hardie Posts Surge In Q1 Profit
James Hardie Industries SE (NYSE: JHX) reported an increase in its first-quarter profit.
James Hardie's quarterly net profit climbed to US$68.5 million, from US$1.0 million, in the year-ago period. Its operating earnings, excluding asbestos liabilities, surged to US$43.8 million.
The company expects full-year operating earnings of US$140 million to US$160 million, versus analysts' estimates ranging from US$156 million to US$177 million.
James Hardie shares dropped 0.34% to close at $43.92 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.