Fuller H B Co Stock Price, News & Analysis

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.

H.B. Fuller Company (NYSE: FUL) reported financial results for its third quarter ended August 31, 2024. Key highlights include:

• Net income of $55 million
• Adjusted EBITDA of $165 million, up 6% year-on-year
• Adjusted EBITDA margin of 18.0%, up 70 basis points year-on-year
• Reported EPS (diluted) of $0.98; adjusted EPS (diluted) of $1.13, up 7% versus prior year
• Net revenue of $918 million, up 1.9% year-on-year including organic volume growth of 3.0%

The company updated its fiscal 2024 outlook, now expecting net revenue growth of approximately 2% with organic revenue flat year-on-year. Adjusted EBITDA is projected to be between $610 million and $620 million, while adjusted EPS (diluted) is expected to be in the range of $4.10 to $4.20.

H.B. Fuller Company (NYSE: FUL) has announced its plans to report financial results for the third quarter of fiscal year 2024 on September 25, 2024, after market close. The company will host an investor conference call on September 26, 2024, at 9:30 a.m. CT to discuss these results. Interested parties can access a live webcast of the call from H.B. Fuller's investor website. Participants are encouraged to register and test their connections at least 10 minutes before the call starts. A telephone replay will be available from 12:30 p.m. CT on September 26 until 10:59 p.m. CT on October 3, 2024.

H.B. Fuller Company (NYSE: FUL) has acquired HS Butyl , the UK's largest manufacturer of high-quality butyl tapes. This acquisition strengthens H.B. Fuller's position in the $15 billion global waterproofing tape market and aligns with the company's strategy to achieve a 20% adjusted EBITDA margin in the next 3-5 years. HS Butyl, with over $23 million in annual sales, exports to more than 50 countries and will operate within H.B. Fuller's Construction Adhesives global business unit.

The acquisition complements H.B. Fuller's existing butyl product line and creates opportunities for new solutions in the Engineering Adhesives market. It also establishes the company's presence in the European waterproofing tape market, which is twice as large as North America's. This move follows H.B. Fuller's 2022 acquisition of GSSI Sealants Inc., further expanding its butyl tape technologies.

H.B. Fuller Company (NYSE: FUL) has declared a regular quarterly cash dividend of $0.2225 per share of common stock. The dividend is payable on August 14, 2024 to shareholders of record at the close of business on July 31, 2024. This announcement marks a significant milestone for the company, as it has consistently paid quarterly cash dividends on its common stock for 56 consecutive years. This long-standing tradition of dividend payments demonstrates H.B. Fuller's commitment to providing steady returns to its shareholders and reflects the company's financial stability and confidence in its business model.