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We're investigating whether James Hardie misled investors and if shareholders are owed compensation.
In May 2025, James Hardie reported FY25 results and forecasted growth across all regions. Three months later, their full year guidance drastically reduced:
- Sales down 9%
- Earnings down 21%
- Net income down nearly 30%.
In August 2025, the share price fell by over 34% in just two trading days, leaving investors holding the loss.
If you bought James Hardie (JHX) shares in between 21 May and 19 August last year, we encourage you to sign up for more information.
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Get more information about the James Hardie Investigation for free.
Be the first to know about developments in the investigation and whether you could be eligible for compensation.
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Frequently Asked Questions about the James Hardie Investigation
On 21 May 2025, James Hardie reported FY25 results and issued FY26 guidance forecasting organic sales and EBITDA growth across all regions.
However, on 20 August 2025, James Hardie released weaker-than-expected Q1 FY26 results and significantly downgraded full-year guidance. As compared to the first quarter of FY25, the results disclosed that:
- net sales were down 9%
- adjusted EBITDA was down 21%
- adjusted net income was down 29%; and
- adjusted earnings per share (EPS) was down 28%.
James Hardie attributed the poor results to a range of factors, including customer ‘destocking’, channel inventory management, and soft market demand, particularly in its North American Fiber Cement segment.
Following this announcement, the James Hardie share price fell over 34% in two days (from $44.34 to $28.98), and financial analysts significantly cut their price targets.
Our investigation concerns whether James Hardie engaged in misleading or deceptive conduct and/or breached its continuous disclosure obligations by failing to disclose material issues affecting its North American Fiber Cement segment in contravention of the Corporations Act 2001 (Cth) and the ASX Listing Rules, and in doing so failed, before 20 August 2025, to:
- correct market consensus regarding James Hardie’s expected Q1 FY26 results; and
- withdraw or correct James Hardie’s FY26 guidance.
We encourage you to register for this investigation if you acquired an interest in James Hardie shares (ASX: JHX) between 21 May 2025 and 19 August 2025 (inclusive).
No. It will not cost you anything to register your interest in this investigation, and you will never be asked to pay any costs out of your own pocket.
If proceedings are filed, group members will not be asked to pay anything upfront.
Costs will only be payable from any settlement or judgment amount if:
- the case is resolved by settlement (meaning the defendant agrees to pay compensation without a trial); or
- the case succeeds at trial and a judgment is obtained in favour of the group.
Court approval is required before any payments are made to Maurice Blackburn from any settlement or judgment amount.
Confidentiality and privacy are very important to us. You can access our Privacy Policy here.
If you still have questions, please call Maurice Blackburn on 02 8520 5278, or email us at jameshardie@mauriceblackburn.com.au
You may contact Maurice Blackburn for more information at no out-of-pocket cost.
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Our reputation for excellence in class actions is unparalleled, having recovered more than $5 billion for clients.
We're the only Australian class actions firm to deliver $100m+ settlements in multiple shareholder and listed securities actions, which we have done on 11 occasions.
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