James Hardie Industries’ QQ2 2025 results reflect a mid-cycle operating environment for construction materials, with revenue of USD 960.8 million and a net income of USD 83.4 million. The company posted a gross margin of 38.8% (gross profit USD 372.9 million) and an EBITDA of USD 204.2 million, delivering an EBITDA margin of roughly 21.3% and an operating margin of 15.9%. YoY and QoQ metrics indicate a softer demand backdrop, with revenue down 3.8% year-over-year and 3.0% quarter-over-quarter, and net income down about 45% on both comparisons. Notwithstanding the top-line softness, James Hardie generated solid operating cash flow of USD 179.2 million and free cash flow of USD 83.8 million, underscoring the company’s cash-generation discipline during a cyclical period.