James Hardie has raised its fiscal 2027 free cash flow target to more than $650m. Chief executive Aaron Erter said the plan does not depend on a near-term recovery in US housing.

Erter called the market challenging, particularly in new construction. Even so, the company kept its full-year ranges: total net sales of $4.990bn to $5.133bn, and adjusted earnings before interest, taxes, depreciation and amortisation (Adjusted EBITDA) of $1.446bn to $1.534bn.

Holding those ranges while lifting the cash target puts the emphasis on cash rather than volume. It also leaves the ranges resting on management's own forecast that sales can hold up if new construction stays weak.

For the second quarter, James Hardie reported earnings of $0.42 a share on revenue of $1.56bn. It guides third-quarter total net sales to a range of $1.058bn to $1.140bn.

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