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James Hardie raises 2021 profit forecast on high demand for renovation

Adds details on markets, 2021 forecast

Oct 14 (Reuters)Australian building materials supplier James Hardie Industries JHX.AX on Wednesday raised its full-year profit forecast and said it expected to post record second-quarter results, boosted by solid demand for its services across markets.

Since the COVID-19 pandemic related shutdowns hammered sales earlier in the year, there has been a recovery in Asia Pacific and European markets.

James Hardie, the world’s biggest fibre cement maker, said the all-time high quarterly sales were “made possible by having all three operating regions deliver growth above market.”

In August, it said sales in North America, one of its biggest markets, were buyoed by homeowners turning to renovation amid the pandemic.

The company increased its fiscal 2021 forecast for underlying net operating profit after tax (NOPAT) to between $380 million and $420 million, from an earlier projection of $330 million and $390 million.

It will report its second quarter results on Nov. 10.

(Reporting by Anushka Trivedi and Nikhil Kurian Nainan in Bengaluru; Editing by Chris Reese and Shinjini Ganguli)

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Roofing Contractor in High Point NC Gets Accreditation and A+ Rating from Local BBB

HIGH POINT, NC / ACCESSWIRE / October 12, 2020 / Grace Roofing And Construction LLC – HP, a company offering roofing services for homeowners and other property owners in the High Point, North Carolina and neighboring areas, has announced that they have recently received an accreditation and an A+ rating with their local BBB. This roofing company High Point NC residents can go to is also an Owens Corning Preferred Contactors and a Velux Skylight 3 Star Installer. The company is fully insured and provides workmanship warranties on all work provided.

A spokesperson for Grace Roofing says, “High Point, NC homeowners choose us for all their residential roofing needs and commercial roofing projects, and our team doesn’t take that lightly. We work hard to deliver a quality roofing service for residential commercial clients and provide a customer experience you can rely on. Our recent accreditation with our local BBB and our A+ rating demonstrate our focus on quality and customer satisfaction.”

Grace Roofing also provides 30-point detailed roof inspections for $129 with a $100 credit towards future repairs should the roof need any at the time of inspection or 6 months from the initial inspection. They would like to advise homeowners and other property owners to have their roofs inspected during the fall season before the winter sets in. This is because when winter comes, the roof may need to support ice buildup and heavy snow loads. However, if the roof happens to have a weakened or damaged part, this may worsen or cause the roof to fail. If there are any issues about the roof that have not been detected during the fall season, the roof may sustain some serious damage during the winter, which is certainly inconvenient because of the extremely cold temperatures.

It should be noted that

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Weekly High Frequency Indicators: Slow Improvement Has Continued

Purpose

I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your beliefs to market.” In general, I go in order of long-leading indicators, then short-leading indicators, then coincident indicators.

A Note on Methodology

Data is presented in a “just the facts, ma’am” format with a minimum of commentary so that bias is minimized.

Where relevant, I include 12-month highs and lows in the data in parentheses to the right. All data taken from St. Louis FRED unless otherwise linked.

A few items (e.g., Financial Conditions indexes, regional Fed indexes, stock prices, the yield curve) have their own metrics based on long-term studies of their behavior.

Where data is seasonally adjusted, generally it is scored positively if it is within the top 1/3 of that range, negative in the bottom 1/3, and neutral in between. Where it is not seasonally adjusted, and there are seasonal issues, waiting for the YoY change to change sign will lag the turning point. Thus I make use of a convention: data is scored neutral if it is less than 1/2 as positive/negative as at its 12-month extreme.

With long-leading indicators, which by definition turn at least 12 months before a turning point in the economy as a whole, there is an additional rule: data is automatically negative if, during an expansion, it has not made a new peak in the past year, with the sole exception that it is scored neutral if it is moving in the right direction and is close to making a new high.

For all series where a graph is available,

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Pensacola area contractors warn of scams, see high demand

Madison Arnold, Pensacola News Journal
Published 6:00 a.m. CT Sept. 25, 2020 | Updated 3:52 p.m. CT Sept. 25, 2020

More than a week after Hurricane Sally made landfall, Shirley Hopkins has already had to re-tack the blue tarp to the roof of her East Yonge Street home so Thursday morning’s rain wouldn’t seep in like it did last week.

“Every so often you have to go back and add some more of those roofing nails because the wind gets under the tarp and it blows the tarp up and with all the rain coming in, you absolutely have to have it down all the time because it’s going to cause the leaks that are in your house to become worse,” Hopkins said. “We’re just hoping that it’s going to hold out for a few days.”

Hopkins lost about two-thirds of her roof, which caused rain water to drip into her home, through the ceiling and onto her carpet. Now she’s worried about mold setting in and she still can’t connect with any roofers to inspect her home.

“Every time we see a sign (for a roofer), we write it down and we call. And they say ‘OK, we’re going to get back with you,'” Hopkins said. “We’ve had some trouble getting people really to come out or return calls.”

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Roofers and contractors around the Pensacola area are being inundated with calls from residents who have wind, water and tree damage to their homes and property following the storm. That may leave residents like Hopkins who can’t get connected with roofers or contractors vulnerable to scams, shoddy work or unlicensed companies.

“I know that time is critical and I think people have that sense of urgency and they want to get back

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S.F. homes for sale at 15-year high as listings outpace buyers

San Francisco’s residential real estate market saw brisk activity from July through September with a steep increase in both sales and inventory, as a significant jump in buyers was not enough to keep up with the deluge of new condos and homes flooding the marketplace, according to a new report from the brokerage Compass.



a large body of water with a city in the background


© Nick Otto / Special To The Chronicle


The number of sales rose 30.2% compared to the third quarter last year, climbing from 1,151 to 1,499 transactions. But the number of listings is at a 15-year high, with a 10-month inventory for condos in some neighborhoods. Comparing September to the same month last year, the number of price reductions was up 172% for houses and condos combined. Of the price reductions, 80% were of condos.

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“The issue the inventory is increasing so much faster than the sales rate,” said Patrick Carlisle, chief market analyst for Compass. “Any time you have this relatively huge overhang of supply, and demand is stable, you are going to see price reductions.”

The market was bifurcated: single-family homes did better than condos; large homes were more popular than smaller homes; and many downtown high-rise offerings languished while listings in more suburban neighborhoods tended to trade faster and slightly above asking price.

The contrast between the single-family homes and condos was apparent in price, how long a property sat on the market, and whether the asking price had to be cut to attract buyers. The median sales for single-family homes inched up year over year from $1.57 million to $1.66 million while condo prices lagged, dipping slightly from $1.275 million to $1.250 million. Single-family listings sold at an average of 102.5% of listing price while condos went for an average of 97.5% of listing price.

Even within the condo segment

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