Quarterly Update: James Hardie Industries (JHX)

The investment thesis for James Hardie is reaffirmed after strong quarterly results. The company raised its fiscal 2026 guidance, and the stock has rallied 40% since the initial "strong buy" recommendation. The integration of AZEK is progressing well with cost synergies being realized. The company's debt is at 3.0x EBITDA, with a plan to reduce it to below 2.0x within two years. The recommendation is to hold the stock and realize gains in the $30-32 range.