8-K
filed September 28, 2023, 7:59 PM ET
ticker FUL
CIK 0000039368
earnings
confidence high
sentiment neutral
materiality 0.70
H.B. Fuller Q3 net income $38M; revenue $901M; adj. EBITDA +13% to $156M
FULLER H B CO
2023-Q3 EPS reported
$1.79
revenue$2,608,055,000
- Reported EPS $0.67; adjusted EPS $1.06 flat YoY; revenue down 4.3% (organic -7.4%).
- Adjusted gross margin expanded 350 bps YoY to 30.0%; adjusted EBITDA margin up 270 bps to 17.3%.
- Cash flow from operations $108M, up $50M YoY; net debt $1,790M.
- FY2023 guidance: revenue $3.50-$3.55B, adj. EBITDA $580-$590M (~9-11% growth), adj. EPS $3.80-$3.90.
- Restructuring savings estimate raised to $40-45M annually; destocking abating in most end markets.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
FULLER H B CO reported third quarter ended September 2, 2023 results: revenue $901 million, net income $38 million, EPS $0.67.
- Period
- third quarter ended September 2, 2023
- Revenue
- $901 million
- Net income
- $38 million
- EPS
- $0.67
- Result
- reported results
Exact text from the filing
– H.B. Fuller Company (NYSE: FUL) today reported financial results for its third quarter that ended September 2, 2023. Third Quarter 2023 Noteworthy Items: ■ Net revenue of $901 million, down 4.3% year-on-year; organic revenue decreased 7.4% year-on-year, driven by lower volume; ■ Gross margin was 29.3%; adjusted gross margin of 30.0% increased 350 basis points
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
FULLER H B CO reported third quarter ended September 2, 2023 results: revenue $901 million, net income $38 million, EPS $0.67.
- Period
- third quarter ended September 2, 2023
- Revenue
- $901 million
- Net income
- $38 million
- EPS
- $0.67
- Result
- reported results
Exact text from the filing
Net revenue of $901 million, down 4.3% year-on-year; organic revenue decreased 7.4% year-on-year, driven by lower volume;
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FULLER H B CO updated its fiscal 2023 guidance (lowered).
- Period
- fiscal 2023
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
Net revenue for fiscal 2023 is now expected to be in the range of $3.50 billion to $3.55 billion with organic revenue down 4.5% to 5.5% versus fiscal 2022, reflecting lower volume expectations due to customer destocking actions and slower than anticipated underlying demand conditions;
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FULLER H B CO updated its fiscal 2023 guidance (lowered).
- Period
- fiscal 2023
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
Adjusted EPS (diluted) is now expected to be in the range of $3.80 to $3.90, equating to a range of down 2.5% to 5.0% year-on-year;
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FULLER H B CO updated its fiscal 2023 guidance (lowered).
- Period
- fiscal 2023
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
Adjusted EBITDA for fiscal 2023 is now expected to be in the range of $580 million to $590 million, reflecting lower volume expectations more than offset by higher margins, contributions from acquisitions, and restructuring benefits, equating to growth of approximately 9% to 11% versus fiscal year 2022;
View on SEC.gov
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