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    Kai Erman

    Research Analyst at Jefferies

    Kai Erman is an Equity Analyst at Jefferies (Australia) Pty Ltd, specializing in coverage of Australian gaming, lottery, and consumer sectors. He has covered specific companies including Aristocrat Leisure and Lottery Corporation Ltd, with recent research highlighting market share growth and operational performance. Erman began his equity research career in 2021, joining Jefferies as an Associate in April 2022 and moving to the analyst role in 2024. He holds relevant financial industry credentials and maintains a solid reputation for data-driven coverage, notably tracking sector turns and performance outcomes.

    Kai Erman's questions to James Hardie Industries (JHX) leadership

    Kai Erman's questions to James Hardie Industries (JHX) leadership • Q1 2025

    Question

    Kai Erman from Jefferies asked about the underlying market assumptions for the third and fourth quarters that support the full-year volume guidance.

    Answer

    CFO Rachel Wilson explained the breadth of the guidance range. She stated that the low end of the volume guidance could be achieved if the current weak market pace continues. Conversely, reaching the high end would require a stronger macro environment, leading to volumes of around 800 million-plus standard feet per quarter, a level the company has achieved in the past.

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