H.B. Fuller
Key Takeaways
- Adhesive maker H.B. Fuller posted fiscal first-quarter earnings that exceeded analysts' expectations.
- Gross sales and adjusted income every fell year-over-year, however not as a lot as analysts had forecast.
- CEO Celeste Mastin mentioned the corporate continues to see "weak total market demand."
Adhesive maker H.B. Fuller (FUL) posted fiscal first-quarter earnings that exceeded analysts’ expectations.
H.B. Fuller generated $788.66 million in income for the quarter, down from $810.42 million in the identical quarter a yr in the past, however about $20 million above the analyst consensus compiled by Seen Alpha. The corporate's adjusted earnings per share got here in at 54 cents, additionally topping estimates.
“Regardless of weak total market demand situations, we stay targeted on pricing self-discipline, market share positive factors, and successfully managing our price construction," CEO Celeste Mastin mentioned in an announcement.
Mastin mentioned the corporate sees the weak demand persevering with, however that H.B. Fuller stays assured it may possibly develop natural gross sales and enhance its revenue margin this yr.
H.B. Fuller maintained its projections for the total yr, with income anticipated to develop 1% to 2% after accounting for the divestiture of one in all its segments, and adjusted EPS projected to rise 2% to 9%.
Shares of the adhesive maker jumped over 6% in early buying and selling Thursday earlier than paring again most of their early positive factors. They've misplaced almost one-third of their worth within the final 12 months.
