James Hardie(US:JHX)2025-08-19 22:00Q1 FY26 Financial Performance - Net sales reached $900 million, a decrease of 9% compared to the prior year[34] - Adjusted EBITDA was $226 million, down 21% year-over-year, with an Adjusted EBITDA Margin of 251%, a decrease of 370 basis points[16, 34] - Adjusted diluted EPS was $029, a 28% decrease[34] - Free cash flow increased by 88% to $104 million[34] AZEK Acquisition and Integration - AZEK Residential quarterly net sales were $417 million with Adjusted EBITDA of $127 million and Adjusted EBITDA Margin of 304%[18] - The company reaffirms expectation to exit FY26 annualizing a third of total cost synergies, representing approximately $20 million of actual anticipated P&L benefit within FY26, concentrated in 2H FY26[27] - The company is on track to achieve $125 million in cost synergies and anticipates over $500 million in commercial synergies[26] FY26 Financial Guidance - The company issues new FY26 guidance reflecting contribution from AZEK[30] - FY26 Siding & Trim net sales are projected to be $2675 to $285 billion[51] - FY26 Deck, Rail & Accessories net sales are projected to be $775 to $800 million[51] - AZEK contribution to Adjusted EBITDA is expected to be +$250 to $265 million, with total Adjusted EBITDA between $105 to $115 billion[51] - Free cash flow is expected to be $200 million+, including approximately $315 million of incremental interest expense and transaction & integration costs related to the AZEK acquisition[51, 53]