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Published November 20, 2025
James Hardie promised strength and stability — the “number one fiber cement brand in North America,” with booming demand and growth ahead. But that story started to crack.
In May 2025, executives told investors everything looked “normal,” even denying that distributors were cutting back orders. Behind the scenes, they already knew the truth — demand was fading, and warehouses were filling with unsold product.
Then in August, the company finally admitted sales in its biggest segment had dropped about 12% due to “customer destocking.” Investors were blindsided. The stock collapsed more than 34% in two days, wiping out billions in value.
Confidence shattered. Investors are fighting back, joining a lawsuit against James Hardie for misleading them about its real performance.