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Company Overview
H.B. Fuller Co (FUL) is a globally recognized provider of specialty adhesives, sealants, and chemical products. With a deep-rooted heritage in the development and manufacture of innovative adhesive solutions, H.B. Fuller is instrumental in enhancing product durability, functionality, and convenience. Known for its expertise in industrial adhesives and sealants, the company integrates advanced chemistry with extensive technical service to solve some of the most challenging adhesion demands worldwide.
Core Business Areas and Market Position
The company organizes its operations into distinct segments including Hygiene, Health and Consumable Adhesives as well as Engineering and Construction Adhesives. At its core, H.B. Fuller specializes in offering a full spectrum of adhesives ranging from thermoplastic and thermoset formulations to reactive, water-based, and solvent-based systems. These products are essential in a wide array of applications including packaging, converting, nonwoven production and personal care products such as disposable diapers and feminine care items. Through these diversified applications, the company secures a position that is integral to modern manufacturing and product assembly processes.
Product Applications and Technical Expertise
H.B. Fuller products are embedded in many everyday experiences—from the sealing mechanisms of household appliances to the adhesives on packaging that protect consumer goods. The company works collaboratively with its customers to fine-tune adhesion solutions, ensuring reliability, performance, and compliance with rigorous quality standards. Its technical service division is dedicated to offering responsive, tailored support that aids clients in navigating adhesion challenges across various industries. Such a blend of specialized products and hands-on technical expertise underscores its role as a vital contributor to industrial efficiency and product excellence.
Business Segments and Revenue Streams
The adhesives business is structured around clear market segments. The largest revenue contributor comes from the hygiene, health, and consumable adhesives segment which targets high-volume consumer and industrial applications. Additionally, the engineering and construction adhesives segments cater to sectors requiring durable, performance-based products. This segmentation not only diversifies the company’s revenue streams but also enables it to address both niche requirements and broad industrial trends, making H.B. Fuller a resilient entity in the global supply chain.
Competitive Landscape and Industry Dynamics
Operating in a competitive industry, H.B. Fuller differentiates itself through a commitment to innovation, technical proficiency, and strategic customer collaborations. Its emphasis on research and development translates into sophisticated adhesion technologies that respond to dynamic industrial needs. The company’s deep engagement in customer-centric product development and its broad application base—spanning consumer packaging and industrial manufacturing—highlight its ability to stay relevant and reliable amid evolving market demands.
Commitment to Quality and Process Integration
Quality is a cornerstone of H.B. Fuller’s operational philosophy. With a strategic focus on integrating people, processes, and products, the company ensures that every adhesive solution created meets high standards of performance and reliability. The invisible yet indispensable nature of its products reinforces its role in improving product longevity and enhancing the overall user experience, often impacting daily life without being overtly recognized.
Global Impact and Customer Collaboration
With a significant presence in the United States and a global reach across various industrial sectors, H.B. Fuller underpins a vast network of manufacturing and consumer goods production. The company prides itself on its ability to connect what matters—merging global innovations with local insights to cater to specific industry challenges. This international footprint and efficient distribution model allow it to support manufacturing ecosystems around the world.
Conclusion
In summary, H.B. Fuller Co stands out as a key contributor in the field of adhesive technologies. Its comprehensive portfolio, robust technical service framework, and dedication to quality underscore its importance in both everyday consumer products and specialized industrial applications. The company’s clear segmentation, paired with its ongoing commitment to solving adhesion challenges, makes it a fundamental component in the supply chains of numerous industries.
H.B. Fuller (NYSE: FUL) has launched Millennium PG-1 EF ECO2, an innovative commercial roofing adhesive that utilizes a groundbreaking canister propellent technology. The product features patented ECO2 Driven™ technology, which uses naturally occurring atmospheric gases instead of chemical blowing agents, eliminating the need for high Global Warming Potential (GWP) propellants or Hydrofluoroolefins (HFOs).
This equipment-free, two-part low-rise foam adhesive offers both ribbon and spatter spray options, making it versatile for installing insulation board and fleece-backed roofing membranes. The canister-based system provides significant coverage per unit and supports recyclability. Compared to mechanical fastening, the adhesive eliminates thermal bridging, achieves high wind uplift ratings, and minimizes leak risks during re-roofing.
H.B. Fuller (NYSE: FUL) reported Q1 2025 financial results with net revenue of $789 million, down 2.7% year-on-year, while organic revenue grew 1.9%. The company posted net income of $13 million with diluted EPS of $0.24 and adjusted EPS of $0.54.
Key metrics include adjusted EBITDA of $114 million (down 7% year-on-year) and adjusted EBITDA margin of 14.5%. The company repurchased 678 thousand shares during the quarter. Gross margin stood at 28.8%, with adjusted gross margin at 29.6%, showing a slight decrease due to higher raw material costs.
For fiscal 2025, Fuller maintains its outlook with expected net revenue decline of 2-4%, organic revenue growth of 0-2%, and adjusted EBITDA between $600-625 million. The company projects adjusted EPS of $3.90-4.20, representing 2-9% year-on-year growth.
H.B. Fuller (NYSE: FUL) has scheduled the release of its first quarter 2025 financial results for the period ended March 1, 2025. The results will be announced after market close on March 26, 2025.
The company will host an investor conference call on March 27, 2025, at 9:30 a.m. CT (10:30 a.m. ET) to discuss the financial results. Investors can access the call through a live webcast available on the company's investor relations website. A supplemental presentation will also be provided.
Participants are advised to register at least 10 minutes before the call. A telephone replay will be available from 12:30 p.m. CT on March 27 until 10:59 p.m. CT on April 3, 2025, accessible via 1-800-770-2030 (toll free) or 1-609-800-9909 with Conference ID: 6370505.
H.B. Fuller (NYSE: FUL) has announced its Board of Directors' declaration of a regular quarterly cash dividend of $0.2225 per share of common stock. The dividend will be paid on February 20, 2025 to shareholders of record as of the close of business on February 6, 2025. The company highlighted its consistent track record of paying quarterly cash dividends, which has now extended to 57 consecutive years.
H.B. Fuller (NYSE: FUL) reported its fiscal year 2024 results with net revenue of $3.57 billion, up 1.6% year-on-year, while organic revenue decreased 1.0%. The company achieved net income of $130 million and adjusted EBITDA of $594 million, up 2.2% year-on-year, with margin expanding to 16.6%.
In Q4 2024, net revenue was $923 million, up 2.3% year-on-year, but the company reported a net loss of $7 million, including a $38 million non-cash impact from the Flooring divestiture. Adjusted EBITDA for Q4 was $148 million, down 14% year-on-year.
The company announced plans to reduce its manufacturing facilities from 82 to 55 by 2030 and North American warehouses from 55 to approximately 10 by 2027, expecting to generate $75 million in annualized cost savings. For fiscal 2025, H.B. Fuller projects adjusted EBITDA of $600-625 million and adjusted EPS of $3.90-4.20.
H.B. Fuller (NYSE: FUL) has released preliminary financial results for fiscal year 2024, revising its expectations downward. The company now projects net revenue of $3.57 billion, adjusted diluted EPS of $3.84, and adjusted EBITDA of $594 million, falling short of its previous EBITDA guidance of $610-620 million. Cash flow from operations is expected at approximately $300 million.
The fourth quarter performance was negatively impacted by weaker market conditions and delayed orders, particularly in consumer product goods, packaging, and durable goods distribution. Higher raw material costs, especially in Hygiene, Health and Consumable Adhesives, along with delayed customer order patterns shifting price increase realization into fiscal 2025, affected adjusted EBITDA. In response, the company is implementing new pricing actions, cost controls, and continuing restructuring initiatives to streamline manufacturing and SG&A.
H.B. Fuller Company (NYSE: FUL) announces agreements to acquire two medical adhesive technology companies: GEM S.r.l. and Medifill . Medifill, an Irish company, produces medical-grade cyanoacrylate adhesives for wound closure, while GEM, an Italian manufacturer, provides medical adhesives approved for over 80 internal indications. The combined companies are expected to generate €23 million in net revenue and €11.5 million in adjusted EBITDA in 2024. The acquisitions, valued at €180 million, will operate within Fuller's Hygiene, Health & Consumable Adhesives unit, with GEM's acquisition expected to close in February 2025.
H.B. Fuller (NYSE: FUL) announced the reorganization of its building and construction segments, including the sale of its Flooring business to Pacific Avenue Capital Partners for $80 million. The company is forming a new Building Adhesive Solutions (BAS) Global Business Unit, combining Insulated Glass, Woodworking, Composite segments with Roofing and Building Envelope and Infrastructure segments. The new BAS unit generated approximately $850 million in net revenue and $130 million in adjusted EBITDA in fiscal year 2024. The Flooring business divestiture will reduce annual revenue by $160 million and adjusted EBITDA by $15 million.
H.B. Fuller Company (NYSE: FUL) has announced a significant change in its Board of Directors. Teresa (Terry) J. Rasmussen has been appointed as the new Chair, effective January 22, 2025, following the retirement of Lee R. Mitau. Rasmussen, who joined the board in 2020, brings extensive experience in the financial services industry and global perspective to the role.
CEO Celeste Mastin expressed confidence in Rasmussen's leadership, highlighting her vision and expertise in customer and go-to-market strategies. The company aims to leverage her background as it expands into high-growth markets and works towards becoming a 20% EBITDA margin business. Mitau's retirement marks the end of his distinguished service, during which H.B. Fuller established itself as the largest pureplay adhesives company globally.
H.B. Fuller Company (NYSE: FUL) has announced that its Board of Directors has declared a regular quarterly cash dividend of $0.2225 per share of common stock. This dividend will be payable on October 31, 2024 to shareholders of record at the close of business on October 17, 2024. The announcement highlights H.B. Fuller's consistent dividend payment history, noting that the company has paid quarterly cash dividends on its common stock for 56 consecutive years.
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