James Hardie (ASX:JHX) announced that it expects its Q2 FY2024 adjusted net income to be in the range of US$170 million to US$190 million.

The company added that its North American volumes are anticipated to be anywhere from 740 million to 770 million standard feet.

The North American EBIT margin is forecasted to fall within 30% to 32%.

Despite global uncertainties surrounding housing markets in which the company operates, James Hardie (ASX:JHX) is committed to delivering robust financial results in Q2.

For the full financial year of FY24, the company has projected a total expense of approximately US$550 million in capital.

The firm is keen on investing in capacity expansion and expects continued robust operating cash flows will help maintain a strong liquidity position.

However, the company does not plan to begin construction at the USA Greenfield Crystal City site in FY24.

In addition, since the initiation of the share buyback program in November 2022, 5.8 million shares have been bought back for a total value of US$127.4 million.

James Hardie (ASX:JHX) sources indicate that its North American market could potentially see a decrease between 5% and 18% in CY2023 compared to CY2022.

James Hardie (ASX:JHX) is an industry leader in the manufacture of building materials, using technology to produce a resilient range of fiber-cement and fiber-gypsum products.