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Mar 02, 2024
H.B. Fuller Q1 2024 Earnings Report
Reported a slight increase in net revenue and a significant rise in adjusted EPS, driven by margin expansion and strong operating income growth.
Key Takeaways
H.B. Fuller reported a slight increase in net revenue, driven by acquisitions, offset by a modest decrease in organic revenue due to pricing changes. Adjusted EPS increased by 22% due to strong operating income growth, and adjusted EBITDA margin expanded by 160 basis points.
Net revenue was $810 million, up slightly year-on-year.
Adjusted EPS (diluted) was $0.67, up 22% year-on-year.
Adjusted EBITDA was $123 million, up 12% year-on-year, with adjusted EBITDA margin expanding to 15.2%.
Cash flow from operations increased $42 million year-on-year to $47 million.
H.B. Fuller
H.B. Fuller
H.B. Fuller Revenue by Segment
Revenue by Segment
Hygiene, Health and Consumable Adhesives Revenue
CapyFin.comEngineering Adhesives Revenue
CapyFin.comBuilding Adhesive Solutions Revenue
CapyFin.com Forward Guidance
The company reiterates its previously communicated financial guidance for fiscal year 2024.
Positive Outlook
- Net revenue growth is expected to be in the range of up 2% to 6% with organic revenue flat to up 3% year-on-year.
- Adjusted EBITDA is expected to be in the range of $610 million to $640 million, equating to growth of approximately 5% to 10% year-on-year.
- Adjusted EPS (diluted) is expected to be in the range of $4.15 to $4.45, equating to year-on-year growth of between 7% and 15%.
- Operating cash flow is expected to be between $300 million and $350 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income