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Aug 31, 2024
H.B. Fuller Q3 2024 Earnings Report
Reported adjusted EPS of $1.13, up 7% year-on-year and net revenue of $918 million, up 1.9% year-on-year.
Key Takeaways
H.B. Fuller reported third quarter results with net revenue up 1.9% year-on-year to $918 million and adjusted EPS of $1.13, a 7% increase year-on-year. Adjusted EBITDA increased by 6% year-on-year, driven by volume growth, restructuring savings, and benefits from recent acquisitions, while adjusted EBITDA margin expanded by 70 basis points to 18.0%.
Net income was $55 million; adjusted EBITDA was $165 million, up 6% year-on-year; adjusted EBITDA margin expanded 70 basis points year-on-year to 18.0%.
Reported EPS (diluted) was $0.98; adjusted EPS (diluted) was $1.13, up 7% versus the prior year.
Net revenue was $918 million, up 1.9% year-on-year including organic volume growth of 3.0%.
Gross profit margin was 30.0%; adjusted gross profit margin was 30.4%, up 40 basis points year-on-year.
Revenue by Segment
Forward Guidance
The company is updating its previously communicated financial guidance for fiscal 2024.
Positive Outlook
- Net revenue growth is now expected to be up approximately 2% with organic revenue flat year-on-year.
- Adjusted EBITDA is now expected to be in the range of $610 million to $620 million, equating to year-on-year growth of between 5% and 7%.
- Adjusted EPS (diluted) is now expected be in the range of $4.10 to $4.20, equating to year-on-year growth of between 6% and 9%.
- Operating cash flow is now expected to be between $325 million and $350 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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