James Hardie Industries plc (NYSE:JHX) Q3 2023 Earnings Call Transcript

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Jason Miele : And one thing I would add here is, I think, as Aaron was mentioned on the call, the thing you were referring to is calendar year €˜22 multifamily was up 14% and starts, whereas single family was down 11. So you’re starting from a better base and moving forward. Yes, we’re excited about the multifamily opportunity.

Unidentified Analyst : Great, thank you. And just one follow up, if we could just move over to price. You talked about price/mix growth year-on-year, but I’m just wondering with price increase in January, and then the mix impact we could expect. Should we be expecting to the fourth quarter sequential price/mix great.

Jason Miele : Sorry, are you saying fourth quarter versus third quarter?

Unidentified Analyst : Yes, sequentially.

Jason Miele : Yes. So we took our price increase on January 1. So we’ll achieve some of that, if not all that in Q1? sorry, our Q4. And we do expect as Aaron mentioned on page 18, net price per unit increasing going forward.

Operator: Your next question comes from Anderson Chow with Jarden Group Australia.

Anderson Chow: Oh, yes. Thank you. Good evening and good morning. I just have a question away from the results for a moment, there has been a few additional senior management roles appointed, I just want to know a little bit more about Mr. Joel Wasserman, he is going to run a Corporate Communication and Global Brand Management. What is the focus on a brand management and how involved would he be with the regional sales team?

Aaron Erter: Yes. Hey, Anderson, thanks for the question. We always like to talk about our people. We have made a few changes here. And Joel is going to lead corporate communications and global branding. The corporate communication spot is new for our company we’ve never had before. So we think that’s important and critical function as we move forward. And global branding is really when you think about a lot of the investments we’re making in the James Hardie brand, is to ensure that we’re projecting and displaying the brand the right way across all the regions. So to your point, Joel is going to work very closely with the regional marketing leads to ensure we do this, Joel is someone that I’ve worked with before in my past, at Valspar and at Sherwin-Williams, and he has a really extensive background.

And I know you didn’t ask about it, but I’ll just throw two more in there. Tim Beastrom, is our new general counsel. So we’re excited to have Tim. Tim also had worked with me in the past, most recently was at Ecolab. So Tim is going to be a great addition to our team. And then having a CHRO, strong CHR is really critical to our business moving forward. So Farhaj Majeed is going to join us and his first day is going to be next week, and we brought Farhaj over from Whirlpool, where he was sitting CHRO for the EMEA region over there. So we’re really excited about these three new additions to our ELT team.

Operator: Your next question comes from Daniel Kang with CLSA.

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