James Hardie losses mount

Photo / Thinkstock

James Hardie Industries has slashed its full year guidance after reporting a third quarter loss of US$26.4 million ($34.27 million), bringing total losses for the year to date to US$345.2 million.

The housing products company says the United States housing sector remains weak and challenging, while in the Asia Pacific, business was hit by wet weather.

James Hardie has forecast full year earnings to be in the range of US$105 million to US$115 million, down from earlier guidance of US$110 to US$125 million.