A strong forecast for Q2 earnings propels shares of leading fibre cement producer, James Hardie Industries (ASX:JHX), by 14.5% to A$46.68.

The company anticipates recording an adjusted net income between $170 million and $190 million for the upcoming quarter, a projection which surpasses a Factset consensus estimate of $166 million.

Analysts at Jefferies express that the company’s optimistic outlook mirrors an improved market scenario and an ongoing relief with respect to input costs.

The company registered an adjusted net income of $174.5 million in the first quarter, which was ahead of its own forecast.

The stock has seen a 54.4% uptick this year, as of its previous close.

James Hardie Industries is the world’s largest producer of fibre cement.