Shares in James Hardie Industries (ASX:JHX), the world’s largest fibre cement manufacturer, climbed as steeply as 16.4% to A$47.45 — the highest point since March 17 of this year.

The company, currently having its best day since March 2020, anticipates posting an adjusted net income ranging between $170 million and $190 million for the upcoming quarter, surpassing Factset’s prediction of $166 million.

Experts at Jefferies feel the company’s optimistic outlook mirrors an improving market scenario and continuous relief in input costs.

Amid the company reporting over 30% North American margins on volumes that have decreased by roughly 9%, Citi remains hopeful for the future when utilization resumes.

While it advises a degree of caution in the short term, indicated by shorter guidance durations, James Hardie recently disclosed an adjusted net income of $174.5 million for Q1, exceeding its own projections.

The stock has enjoyed a year-to-date rise of 54.4% up to the previous close.

James Hardie Industries (ASX:JHX) is the world’s largest fibre cement manufacturer.