Wall cladding and plasterboard maker James Hardie is in the preliminary stages of an acquisition in the United States, consistent with recent results’ disclosure about tripling earnings in the region via mergers and acquisitions, investor sources told this column,

It comes after James Hardie’s $US178 million net profit for the first quarter outstripped its own guidance and sell-side analyst estimates. However, its North American fibre cement business – 73.5 per cent of the group’s net sales – is expected to drag down next quarter’s results, thanks to a slowdown in volumes amid high interest rates and rising construction costs after a COVID-19 renovation boom.