H.B. Fuller Reports Fourth Quarter and Fiscal Year 2025 Results

Key Terms

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

adjusted eps financial

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

basis points financial

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

net working capital financial

Net working capital is the amount left when you subtract a company’s short-term bills (like accounts payable and short-term loans) from its short-term assets (cash, money owed to it, and inventory). Think of it as the cash cushion a business has to keep daily operations running — a bigger cushion means fewer short-term funding worries, while a small or negative number can signal pressure to raise cash or cut activity, which matters to investors assessing stability and short-term risk.

regulation g regulatory

Regulation G is a U.S. securities rule that requires companies to show and explain how any highlighted financial numbers that differ from standard accounting figures were calculated, and to provide a clear bridge to the official results. For investors this acts like a recipe card: when a company presents a simplified or adjusted profit number, Regulation G forces them to show the original ingredients and steps so readers can judge whether the adjusted figure gives a clearer or misleading picture of financial health.

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

Q4 2025 Net income of $30 million; Adjusted EBITDA of $170 million, up 15% year-on-year

Q4 2025 Adjusted EBITDA margin of 19.0%, up 290 basis points year-on-year

Q4 2025 EPS (diluted) of $0.54; Adjusted EPS of $1.28, up 39% year-on-year

FY 2025 Net income of $152 million; Adjusted EBITDA of $621 million

FY 2025 Adjusted EBITDA margin of 17.9%, up 130 basis points year-on-year

ST. PAUL, Minn.--(BUSINESS WIRE)-- H.B. Fuller Company (NYSE: FUL) today reported financial results for its fourth quarter and fiscal year that ended November 29, 2025.

Fourth Quarter 2025 Noteworthy Items:

• Net revenue was $895 million, down 3.1% year-on-year; adjusting for the flooring divestiture, net revenue was up 0.9% year-on-year;
• Gross margin was 31.5%; adjusted gross margin of 32.5% increased 290 basis points year-on-year driven by favorable pricing and raw material cost actions, the impact of acquisitions and divestitures, and restructuring benefits;
• Net income was $30 million; adjusted EBITDA was $170 million, up 14.6% year-on-year; adjusted EBITDA margin was 19.0%, up 290 basis points year-on-year;
• Reported EPS (diluted) was $0.54; adjusted EPS (diluted) was $1.28, up 39.1% versus the prior year, driven by higher operating income and lower shares outstanding.

Fiscal Year 2025 Noteworthy Items:

• Net revenue was $3.47 billion, down 2.7% year-on-year; adjusting for the flooring divestiture, net revenue was up 1.8% year-on-year;
• Organic revenue was flat year-on-year, driven by 0.8% favorable pricing, offset by 0.8% lower volume;
• Gross margin was 31.1%; adjusted gross margin of 31.7% increased 140 basis points year-on-year, driven by pricing and raw material cost actions, the impact of acquisitions and divestitures, and restructuring benefits;
• Net income was $152 million; adjusted EBITDA was $621 million, up 4.5% year-on-year; adjusted EBITDA margin expanded year-on-year to 17.9%;
• Reported EPS (diluted) was $2.75; adjusted EPS (diluted) was $4.24, up 10.4% year-on-year, driven by higher operating income and lower shares outstanding;
• Net working capital, as a percentage of annualized net revenue, increased 130 basis points year-on-year to 15.8%; cash flow from operations was $263 million.

Summary of Fourth Quarter 2025 Results:

The company’s net revenue for the fourth quarter of fiscal 2025 was $895 million, down 3.1% versus the fourth quarter of fiscal 2024. Organic revenue was down 1.3% year-on-year, with pricing actions increasing organic revenue by 1.2% and volume decreasing organic revenue by 2.5%. Foreign currency translation increased net revenue by 1.0%, and the net impact of acquisitions and divestitures decreased net revenue by 2.8%.

Gross profit in the fourth quarter of fiscal 2025 was $282 million. Adjusted gross profit was $291 million. Adjusted gross profit margin of 32.5% increased 290 basis points year-on-year. The net impact of pricing and raw material cost actions, the impact of acquisitions and divestitures, and targeted cost reduction efforts drove the year-on-year increase in adjusted gross profit margin.

Selling, general and administrative (SG&A) expense was $184 million in the fourth quarter of fiscal 2025 and adjusted SG&A was $174 million, down modestly year-on-year driven by continued cost saving efforts and lower variable compensation.

Net income attributable to H.B. Fuller for the fourth quarter of fiscal 2025 was $30 million. Adjusted net income attributable to H.B. Fuller for the fourth quarter of fiscal 2025 was $71 million. Adjusted EPS was $1.28 per diluted share, up 39.1% year-on-year.

Adjusted EBITDA in the fourth quarter of fiscal 2025 was $170 million, up 14.6% year-on-year, driven principally by the net impact of pricing and raw material cost actions. Adjusted EBITDA margin increased 290 basis points year-on-year to 19.0%.

“Our execution and agility in the quarter and throughout the year generated double‑digit EPS growth and EBITDA at the top end of our full year guidance range amidst an unpredictable economic backdrop and challenging demand landscape,” said Celeste Mastin, president and CEO. “During this time, we helped our customers navigate this environment successfully—providing them with material optionality and flexibility while ensuring consistent quality and reliable availability wherever in the world they chose to make their products. These efforts, which strengthened our partnerships and enhanced H.B. Fuller’s competitive positioning, are reflected in our improved profitability and sustained margin expansion.

“As a result, we are exiting the fourth quarter with strong momentum heading into 2026 and are firmly on track to achieve our target of greater than 20% EBITDA margin. I am very proud of our team’s resolve, resourcefulness, and the meaningful progress we made in 2025 as we continue transforming H.B. Fuller into a higher‑growth, higher‑margin company.”

Balance Sheet and Working Capital:

Net debt at the end of the fourth quarter of fiscal 2025 was $1,910 million, down $48 million sequentially versus the third quarter and up $68 million year-on-year. Net debt-to-adjusted EBITDA of 3.1X was down sequentially from 3.3X versus the previous quarter, and down from 3.5X in the first quarter.

Net working capital in the fourth quarter of fiscal 2025 declined $41 million sequentially versus the third quarter. As a percentage of annualized net revenue, net working capital decreased 120 basis points versus the third quarter. On a year-on-year basis, net working capital increased 130 basis points to 15.8%, due to slightly higher inventory days on hand as we execute our manufacturing footprint optimization.

Fiscal 2026 Outlook:

• Net revenue for fiscal 2026 is expected to be flat to up 2%, with organic revenue expected to be approximately flat versus fiscal 2025;
• Adjusted EBITDA for fiscal 2026 is expected to be in the range of $630 million to $660 million;
• Net revenue for the first quarter of 2026 is expected to be down low single digits; adjusted EBITDA for the first quarter of 2026 is expected to be in the range of $110 million to $120 million;
• Depreciation and amortization expense is expected to be approximately $185 million;
• Net interest expense for fiscal 2026 is expected to be approximately $120 million;
• The core tax rate, excluding the impact of discrete items, is anticipated to be between 26% and 27% in fiscal year 2026;
• Adjusted EPS (diluted) is expected to be in the range of $4.35 to $4.70;
• Fully diluted average share count is expected to be between 55 million and 56 million shares;
• Operating cash flow in fiscal year 2026 is expected to be between $275 million and $300 million;
• Capital expenditures of approximately $160 million are expected in fiscal 2026, which includes approximately $50 million related to the company’s manufacturing footprint consolidation initiative.

Conference Call:

The company will hold a conference call on January 15, 2026, at 9:30 a.m. CT (10:30 a.m. ET) to discuss its results. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at https://investors.hbfuller.com. Participants must register prior to accessing the webcast using this link and should do so at least 10 minutes prior to the start of the call to install and test any necessary software and audio connections. A telephone replay of the conference call will be available from 12:30 p.m. CT on January 15, 2026, to 10:59 p.m. CT on January 22, 2026. To access the telephone replay dial 1-800-770-2030 (toll free) or 1-609-800-9909, and enter Conference ID: 6370505.

Regulation G:

The information presented in this earnings release regarding consolidated and segment organic revenue growth, operating income, adjusted gross profit, adjusted gross profit margin, adjusted selling, general and administrative expense, adjusted income before income taxes and income from equity investments, adjusted income taxes, adjusted effective tax rate, adjusted net income, adjusted diluted earnings per share, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted EBITDA margin, net debt, net debt-to-adjusted EBITDA, trailing twelve months adjusted EBITDA, net working capital, annualized net revenue and net working capital as a percentage of annualized net revenue does not conform to U.S. generally accepted accounting principles (U.S. GAAP) and should not be construed as an alternative to the reported results determined in accordance with U.S. GAAP. Management has included this non-GAAP information to assist in understanding the operating performance of the company and its operating segments as well as the comparability of results to the results of other companies. The non-GAAP information provided may not be consistent with the methodologies used by other companies. All non-GAAP information is reconciled with reported U.S. GAAP results in the “Regulation G Reconciliation” tables in this press release with the exception of our forward-looking non-GAAP measures contained above in our Fiscal 2026 Outlook, which the company cannot reconcile to forward-looking GAAP results without unreasonable effort.

About H.B. Fuller:

As the largest pureplay adhesives company in the world, H.B. Fuller’s (NYSE: FUL) innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2025 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,100 global team members who collaborate with customers across more than 30 market segments in 150 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets. Learn more at www.hbfuller.com.

Safe Harbor for Forward-Looking Statements:

Certain statements in this press release are forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “opportunity,” “outlook,” “plan,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “will be,” “will continue,” “will likely result,” “would” and similar expressions, and variations or negatives of these words or phrases. These statements are subject to various risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the availability and pricing of raw materials; the impact of potential cybersecurity attacks and security breaches; failures in our information technology systems; the impact on the supply chain, raw material costs and pricing of our products due to military conflict, including between Russia and Ukraine; the impact on our margins and product demand due to inflationary pressures; the substantial amount of debt we have incurred to finance our acquisition of Royal, our ability to repay or refinance our debt or to incur additional debt in the future, our need for a significant amount of cash to service and repay the debt and to pay dividends on our common stock, and the effect of debt covenants that limit the discretion of management in operating the business or in paying dividends; our ability to pay dividends and to pursue growth opportunities if we continue to pay dividends according to our current dividend policy; our ability to effectively manage and realize expected benefits from completed and future mergers, acquisitions, and divestitures; our ability to achieve expected synergies, cost savings and operating efficiencies from our restructuring initiatives and operational improvement projects within the expected time frames or at all; our ability to effectively implement Project ONE; uncertain political and economic conditions; fluctuations in product demand; competing products and pricing; our geographic and product mix; disruptions to our relationships with our major customers and suppliers; regulatory compliance across our global footprint; trade policies and economic sanctions impacting our markets; changes in tax laws and tariffs; devaluations and other foreign exchange rate fluctuations; the impact of litigation and investigations, including for product liability and environmental matters; impairment charges on our goodwill or long-lived assets; the consequences of catastrophic events on our operations and financial results; the effect of new accounting pronouncements and accounting charges and credits; and similar matters.

Additional information about these various risks and uncertainties can be found in the “Risk Factors” section of our Form 10-K filings, and any updates to the risk factors in our Form 10-Q and 8-K filings with the SEC, but there may be other risks and uncertainties that we are unable to identify at this time or that we do not currently expect to have a material impact on the business. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update or revise any forward-looking statements, except as required by law.

H.B. FULLER COMPANY AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
In thousands, except per share amounts (unaudited)
		Three Months Ended November 29, 2025				Percent of Net Revenue				Three Months Ended November 30, 2024				Percent of Net Revenue
Net revenue		$	894,788				100.0	%		$	923,284				100.0	%
Cost of sales			(612,705	)			(68.5	)%			(658,424	)			(71.3	)%
Gross profit			282,083				31.5	%			264,860				28.7	%
Selling, general and administrative expenses			(183,643	)			(20.5	)%			(188,453	)			(20.4	)%
Other income, net			(26,782	)			(3.0	)%			(44,396	)			(4.8	)%
Interest expense			(32,809	)			(3.7	)%			(33,621	)			(3.6	)%
Interest income			1,756				0.2	%			1,084				0.1	%
Income before income taxes and income from equity method investments			40,605				4.5	%			(526	)			(0.1	)%
Income taxes			(11,931	)			(1.3	)%			(7,885	)			(0.9	)%
Income from equity method investments			1,058				0.1	%			1,159				0.1	%
Net income including non-controlling interest			29,732				3.3	%			(7,252	)			(0.8	)%
Net income attributable to non-controlling interest			-				0.0	%			(107	)			(0.0	)%
Net income attributable to H.B. Fuller		$	29,732				3.3	%		$	(7,359	)			(0.8	)%
Basic income per common share attributable to H.B. Fuller		$	0.55							$	(0.13	)
Diluted income per common share attributable to H.B. Fuller		$	0.54							$	(0.13	)
Weighted-average common shares outstanding:
Basic			54,541								55,106
Diluted			55,276								56,658

H.B. FULLER COMPANY AND SUBSIDIARIES
CONSOLIDATED FINANCIAL INFORMATION
In thousands, except per share amounts (unaudited)
		Year Ended November 29, 2025				Percent of Net Revenue				Year Ended November 30, 2024				Percent of Net Revenue
Net revenue		$	3,473,589				100.0	%		$	3,568,736				100.0	%
Cost of sales			(2,392,934	)			(68.9	)%			(2,506,859	)			(70.2	)%
Gross profit			1,080,655				31.1	%			1,061,877				29.8	%
Selling, general and administrative expenses			(725,585	)			(20.9	)%			(713,657	)			(20.0	)%
Other income, net			(11,126	)			(0.3	)%			(37,115	)			(1.0	)%
Interest expense			(133,346	)			(3.8	)%			(133,124	)			(3.7	)%
Interest income			4,820				0.1	%			4,682				0.1	%
Income before income taxes and income from equity method investments			215,418				6.2	%			182,663				5.1	%
Income taxes			(67,129	)			(1.9	)%			(56,381	)			(1.6	)%
Income from equity method investments			3,784				0.1	%			4,113				0.1	%
Net income including non-controlling interest			152,073				4.4	%			130,395				3.7	%
Net income attributable to non-controlling interest			(106	)			(0.0	)%			(139	)			(0.0	)%
Net income attributable to H.B. Fuller		$	151,967				4.4	%		$	130,256				3.6	%
Basic income per common share attributable to H.B. Fuller		$	2.78							$	2.37
Diluted income per common share attributable to H.B. Fuller		$	2.75							$	2.30
Weighted-average common shares outstanding:
Basic			54,602								54,932
Diluted			55,355								56,629

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands, except per share amounts (unaudited)
		Three Months Ended								Year Ended
		November 29, 2025				November 30, 2024				November 29, 2025				November 30, 2024
Net income attributable to H.B. Fuller		$	29,732			$	(7,359	)		$	151,967			$	130,256
Adjustments:
Acquisition project costs 1			1,465				4,051				15,412				11,035
Organizational realignment 2			11,396				15,958				31,424				39,996
Project One 3			2,091				2,672				10,237				11,885
Business divestiture 4			-				47,267				-				47,267
Other 5			37,400				39				39,155				(1,981	)
Discrete tax items 6			(3,743	)			(1,322	)			7,467				(5,469	)
Income tax effect on adjustments 7			(7,745	)			(9,339	)			(21,054	)			(15,811	)
Adjusted net income attributable to H.B. Fuller 8			70,596				51,967				234,608				217,178
Add:
Interest expense			32,547				33,621				132,431				133,122
Interest income			(1,756	)			(1,084	)			(4,820	)			(4,679	)
Income taxes			23,420				18,546				80,717				77,661
Depreciation and Amortization expense 9			45,246				45,286				177,724				170,573
Adjusted EBITDA 8			170,053				148,336				620,660				593,855
Diluted Shares			55,276				56,658				55,355				56,629
Adjusted diluted income per common share attributable to H.B. Fuller 8		$	1.28			$	0.92			$	4.24			$	3.84
Net revenue		$	894,788			$	923,284			$	3,473,589			$	3,568,736
Adjusted EBITDA margin 8			19.0	%			16.1	%			17.9	%			16.6	%

1 Acquisition project costs include costs related to evaluating, acquiring and integrating business acquisitions. Acquisition project costs include $1,202 and $4,583 in transaction costs (primarily consulting and professional fees, representations and warranties insurance premiums) and $263 and $(532) in purchase accounting costs (primarily professional fees for valuation services, inventory step-up cost and the impact of changes to contingent consideration liabilities after the completion of the purchase price allocation) for the three months ended November 29, 2025 and November 30, 2024, respectively. Acquisition project costs include $14,269 and $9,718 in transaction costs (primarily consulting and professional fees, representations and warranties insurance premiums and employee acquisition-related travel expenses) and $1,143 and $740 in purchase accounting costs (primarily professional fees for valuation services, inventory step-up cost and the impact of changes to contingent consideration liabilities after the completion of the purchase price allocation) and $0 and $577 in business integration costs (primarily costs of transition services agreements and retention bonuses paid to employees of the acquired entities) for the year ended November 29, 2025 and November 30, 2024, respectively.

2 Organizational realignment includes costs incurred as a direct result of the organizational realignment program, including professional fees related to legal entity and business structure changes, employee retention and severance costs, and facility rationalization costs related to the closure of production facilities and consolidation of business activities. Facility rationalization costs include plant closure costs, the impact of accelerated depreciation and for the three months ended March 2, 2024, operational inefficiencies. Organizational realignment includes $558 and $2,169 in professional fees related to legal entity and business structure changes, $9,677 and $6,832 in employee severance and other related costs, and $1,161 and $6,957 related to facility rationalization costs for the three months ended November 29, 2025 and November 30, 2024, respectively. Organizational realignment includes $4,452 and $9,084 in professional fees related to legal entity and business structure changes, $15,344 and $16,553 in employee severance and other related costs, and $11,629 and $14,359 related to facility rationalization costs for the year ended November 29, 2025 and November 30, 2024, respectively.

3 Project One includes non-capitalizable project costs related to implementing our global Enterprise Resource Planning system, including upgrading to SAP S/4HANA®, which has upgraded and standardized our information system.

4 Business divestiture for the three months and year ended November 30, 2024 includes impairment losses for goodwill and long-lived assets, and project costs incurred as a direct result of the sale of the North American Flooring business, which occurred in the first quarter of 2025. Impairment losses represent the difference between book value of the assets held for sale at November 20, 2024 and their net realizable value.

5 Other includes losses associated with ongoing litigation and product claims related to a divested business and costs associated with the exit of a product line for the three months and year ended November 29, 2025. Other includes a gain from insurance recoveries and a loss from the write-off of a cost method investment for the year ended November 30, 2024.

6 Discrete tax items for the three months ended November 29, 2025 relate to various U.S. and foreign tax matters. Discrete tax items for the year ended November 30, 2025 primarily relate to the impact of withholding tax recorded on earnings that are no longer permanently reinvested, offset by various U.S. and foreign tax matters. Discrete tax items for the three months ended November 30, 2024 are related to various foreign tax matters and for the year ended November 30, 2024 are related to various foreign tax matters as well as excess tax benefit related to U.S. stock compensation.

7 The income tax effect on adjustments represents the difference between income taxes on net income before income taxes and income from equity method investments reported in accordance with U.S. GAAP and adjusted net income before income taxes and income from equity method investments.

8 Adjusted net income attributable to H.B. Fuller, adjusted diluted income per common share attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. Adjusted net income attributable to H.B. Fuller is defined as net income before the specific adjustments shown above. Adjusted diluted income per common share is defined as adjusted net income attributable to H.B. Fuller divided by the number of diluted common shares. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation, amortization and the specific adjustments shown above. Adjusted EBITDA margin is defined as adjusted EBITDA divided by net revenue. The table above provides a reconciliation of adjusted net income attributable to H.B. Fuller, adjusted diluted income per common share attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin to net income attributable to H.B. Fuller, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

9 Depreciation and amortization expense added back for EBITDA is adjusted for amounts already included in adjusted net income attributable to H.B. Fuller totaling ($234) and ($711) for the three months ended November 29, 2025 and November 30, 2024, respectively and. ($596) and ($4,137) for the year ended November 29, 2025 and November 30, 2024, respectively.

H.B. FULLER COMPANY AND SUBSIDIARIES
SEGMENT FINANCIAL INFORMATION
In thousands (unaudited)
		Three Months Ended								Year Ended
		November				November				November				November
		29, 2025				30, 2024				29, 2025				30, 2024
Net Revenue:
Hygiene, Health and Consumable Adhesives		$	400,021			$	395,174			$	1,551,789			$	1,546,545
Engineering Adhesives			276,305				265,305				1,061,779				1,009,031
Building Adhesive Solutions			218,462				225,945				860,021				856,503
Corporate unallocated			-				36,860				-				156,657
Total H.B. Fuller		$	894,788			$	923,284			$	3,473,589			$	3,568,736
Segment Operating Income:
Hygiene, Health and Consumable Adhesives		$	51,283			$	38,821			$	171,123			$	184,731
Engineering Adhesives			48,415				39,597				170,295				144,491
Building Adhesive Solutions			17,745				20,841				72,295				75,943
Corporate unallocated			(19,003	)			(22,851	)			(58,642	)			(56,945	)
Total H.B. Fuller		$	98,440			$	76,408			$	355,071			$	348,220
Adjusted EBITDA 8
Hygiene, Health and Consumable Adhesives		$	70,202			$	54,257			$	244,381			$	245,750
Engineering Adhesives			65,013				55,569				235,969				200,512
Building Adhesive Solutions			33,202				35,656				134,013				133,171
Corporate unallocated			1,636				2,854				6,297				14,422
Total H.B. Fuller		$	170,053			$	148,336			$	620,660			$	593,855
Adjusted EBITDA Margin 8
Hygiene, Health and Consumable Adhesives			17.5	%			13.7	%			15.7	%			15.9	%
Engineering Adhesives			23.5	%			20.9	%			22.2	%			19.9	%
Building Adhesive Solutions			15.2	%			15.8	%			15.6	%			15.5	%
Corporate unallocated			0.0	%			7.7	%			0.0	%			9.2	%
Total H.B. Fuller			19.0	%			16.1	%			17.9	%			16.6	%
NMP = non-meaningful percentage

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands, except per share amounts (unaudited)
		Three Months Ended								Year Ended
		November				November				November				November
		29, 2025				30, 2024				29, 2025				30, 2024
Income before income taxes and income from equity method investments		$	40,605			$	(526	)		$	215,418			$	182,663
Adjustments:
Acquisition project costs 1			1,465				4,051				15,412				11,035
Organizational realignment 2			11,396				15,958				31,424				39,996
Project One 3			2,091				2,672				10,237				11,885
Business divestiture 4			-				47,267				-				47,267
Other 5			37,400				39				39,155				(1,981	)
Adjusted income before income taxes and income from equity method investments 10		$	92,957			$	69,461			$	311,646			$	290,865

10 Adjusted income before income taxes and income from equity investments is a non-GAAP financial measure. Adjusted income before income taxes and income from equity investments is defined as income before income taxes and income from equity investments before the specific adjustments shown above. The table above provides a reconciliation of adjusted income before income taxes and income from equity investments to income before income taxes and income from equity investments, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands, except per share amounts (unaudited)
		Three Months Ended								Year Ended
		November				November				November				November
		29, 2025				30, 2024				29, 2025				30, 2024
Income Taxes		$	(11,931	)		$	(7,885	)		$	(67,129	)		$	(56,381	)
Adjustments:
Acquisition project costs 1			(217	)			(77	)			(4,205	)			(1,125	)
Organizational realignment 2			(1,686	)			(305	)			(7,822	)			(4,350	)
Project One 3			(309	)			(51	)			(2,857	)			(1,669	)
Business divestiture 4			-				(8,905	)			-				(8,905	)
Other 5			(5,534	)			(1	)			(6,171	)			238
Discrete tax items 6			(3,743	)			(1,322	)			7,467				(5,469	)
Adjusted income taxes		$	(23,420	)		$	(18,546	)		$	(80,717	)		$	(77,661	)
Adjusted income before income taxes and income from equity method investments 10		$	92,957			$	69,461			$	311,646			$	290,865
Adjusted effective income tax rate 11			25.2	%			26.7	%			25.9	%			26.7	%

11 Adjusted income taxes and adjusted effective income tax rate are non-GAAP financial measures. Adjusted income taxes is defined as income taxes before the specific adjustments shown above. Adjusted effective income tax rate is defined as income taxes divided by adjusted income before income taxes and income from equity method investments. The table above provides a reconciliation of adjusted income taxes and adjusted effective income tax rate to income taxes, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands (unaudited)
		Three Months Ended								Year Ended
		November				November				November				November
		29, 2025				30, 2024				29, 2025				30, 2024
Net revenue		$	894,788			$	923,284			$	3,473,589			$	3,568,736
Gross profit		$	282,083			$	264,860			$	1,080,655			$	1,061,877
Gross profit margin			31.5	%			28.7	%			31.1	%			29.8	%
Adjustments:
Acquisition project costs 1			-				1				764				1,001
Organizational realignment 2			8,292				8,035				19,432				18,714
Project One 3			-				24				-				37
Other 5			858				-				858				(1	)
Adjusted gross profit 12		$	291,233			$	272,920			$	1,101,709			$	1,081,628
Adjusted gross profit margin 12			32.5	%			29.6	%			31.7	%			30.3	%

12 Adjusted gross profit and adjusted gross profit margin are non-GAAP financial measures. Adjusted gross profit and adjusted gross profit margin is defined as gross profit and gross profit margin excluding the specific adjustments shown above. The table above provides a reconciliation of adjusted gross profit and gross profit margin to gross profit and gross profit margin, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands (unaudited)
		Three Months Ended								Year Ended
		November				November				November				November
		29, 2025				30, 2024				29, 2025				30, 2024
Selling, general and administrative expenses		$	(183,643	)		$	(188,453	)		$	(725,585	)		$	(713,657	)
Adjustments:
Acquisition project costs 1			389				4,558				11,917				10,519
Organizational realignment 2			5,633				7,031				11,935				19,354
Project One 3			2,091				2,648				10,237				11,847
Other 5			1,743				41				3,498				(3,946	)
Adjusted selling, general and administrative expenses 13		$	(173,787	)		$	(174,175	)		$	(687,998	)		$	(675,883	)

13 Adjusted selling, general and administrative expenses is a non-GAAP financial measure. Adjusted selling, general and administrative expenses is defined as selling, general and administrative expenses excluding the specific adjustments shown above. The table above provides a reconciliation of adjusted selling, general and administrative expenses to selling, general and administrative expenses, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands (unaudited)
Three Months Ended:		Hygiene, Health and Consumable				Engineering				Building Adhesive								Corporate				H.B. Fuller
November 29, 2025		Adhesives				Adhesives				Solutions				Total				Unallocated				Consolidated
Net income attributable to H.B. Fuller		$	53,490			$	49,384			$	20,297			$	123,171			$	(93,439	)		$	29,732
Adjustments:
Acquisition project costs 1			-				-				-				-				1,465				1,465
Organizational realignment 2			-				-				-				-				11,396				11,396
Project One 3			-				-				-				-				2,091				2,091
Other 5																			37,400				37,400
Discrete tax items 6			-				-				-				-				(3,743	)			(3,743	)
Income tax effect on adjustments 7			-				-				-				-				(7,745	)			(7,745	)
Adjusted net income attributable to H.B. Fuller 8			53,490				49,384				20,297				123,171				(52,575	)			70,596
Add:
Interest expense			-				-				-				-				32,547				32,547
Interest income			-				-				-				-				(1,756	)			(1,756	)
Income taxes			-				-				-				-				23,420				23,420
Depreciation and amortization expense 9			16,712				15,629				12,905				45,246				-				45,246
Adjusted EBITDA 8		$	70,202			$	65,013			$	33,202			$	168,417			$	1,636			$	170,053
Net revenue		$	400,021			$	276,305			$	218,462			$	894,788				-			$	894,788
Adjusted EBITDA margin 8			17.5	%			23.5	%			15.2	%			18.8	%		NMP					19.0	%

Year Ended		Hygiene, Health and Consumable				Engineering				Building Adhesive								Corporate				H.B. Fuller
November 29, 2025		Adhesives				Adhesives				Solutions				Total				Unallocated				Consolidated
Net income attributable to H.B. Fuller		$	179,958			$	174,175			$	82,506			$	436,639			$	(284,672	)		$	151,967
Adjustments:
Acquisition project costs 1			-				-				-				-				15,412				15,412
Organizational realignment 2			-				-				-				-				31,424				31,424
Project One 3			-				-				-				-				10,237				10,237
Other 5																			39,155				39,155
Discrete tax items 6			-				-				-				-				7,467				7,467
Income tax effect on adjustments 7			-				-				-				-				(21,054	)			(21,054	)
Adjusted net income attributable to H.B. Fuller 8			179,958				174,175				82,506				436,639				(202,031	)			234,608
Add:
Interest expense			-				-				-				-				132,431				132,431
Interest income			-				-				-				-				(4,820	)			(4,820	)
Income taxes			-				-				-				-				80,717				80,717
Depreciation and amortization expense 9			64,423				61,794				51,507				177,724				-				177,724
Adjusted EBITDA 8		$	244,381			$	235,969			$	134,013			$	614,363			$	6,297			$	620,660
Net revenue			1,551,789				1,061,779				860,021			$	3,473,590				-				3,473,590
Adjusted EBITDA margin 8			15.7	%			22.2	%			15.6	%			17.7	%		NMP					17.9	%

Note: Adjusted EBITDA is a non-GAAP financial measure. The table above provides a reconciliation of adjusted EBITDA for each segment to net income attributable to H.B. Fuller for each segment, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

NMP = Non-meaningful percentage

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands (unaudited)
Three Months Ended:		Hygiene, Health and Consumable				Engineering				Building Adhesive								Corporate				H.B. Fuller
November 30, 2024		Adhesives				Adhesives				Solutions				Total				Unallocated				Consolidated
Net income attributable to H.B. Fuller		$	40,322			$	40,250			$	22,667			$	103,239			$	(110,598	)		$	(7,359	)
Adjustments:
Acquisition project costs 1			-				-				-				-				4,051				4,051
Organizational realignment 2			-				-				-				-				15,958				15,958
Project One 3			-				-				-				-				2,672				2,672
Business divestiture 4																		47,267					47,267
Other 5			-				-				-				-				39				39
Discrete tax items 6			-				-				-				-				(1,322	)			(1,322	)
Income tax effect on adjustments 7			-				-				-				-				(9,339	)			(9,339	)
Adjusted net income attributable to H.B. Fuller 8			40,322				40,250				22,667				103,239				(51,272	)			51,967
Add:
Interest expense			-				-				-				-				33,621				33,621
Interest income			-				-				-				-				(1,084	)			(1,084	)
Income taxes			-				-				-				-				18,546				18,546
Depreciation and amortization expense 9			13,935				15,319				12,989				42,243				3,043				45,286
Adjusted EBITDA 8		$	54,257			$	55,569			$	35,656			$	145,482			$	2,854			$	148,336
Net revenue		$	395,174			$	265,305			$	225,945			$	886,424				36,860			$	923,284
Adjusted EBITDA margin 8			13.7	%			20.9	%			15.8	%			16.4	%			7.74	%			16.1	%

Year Ended		Hygiene, Health and Consumable				Engineering				Building Adhesive								Corporate				H.B. Fuller
November 30, 2024		Adhesives				Adhesives				Solutions				Total				Unallocated				Consolidated
Net income attributable to H.B. Fuller		$	190,721			$	147,111			$	83,253			$	421,085			$	(290,829	)		$	130,256
Adjustments:
Acquisition project costs 1			-				-				-				-				11,035				11,035
Organizational realignment 2			-				-				-				-				39,996				39,996
Project One 3			-				-				-				-				11,885				11,885
Business divestiture 4																		47,267					47,267
Other 5			-				-				-				-				(1,981	)			(1,981	)
Discrete tax items 6			-				-				-				-				(5,469	)			(5,469	)
Income tax effect on adjustments 7			-				-				-				-				(15,811	)			(15,811	)
Adjusted net income attributable to H.B. Fuller 8			190,721				147,111				83,253				421,085				(203,907	)			217,178
Add:
Interest expense			-				-				-				-				133,122				133,122
Interest income			-				-				-				-				(4,679	)			(4,679	)
Income taxes			-				-				-				-				77,661				77,661
Depreciation and amortization expense 9			55,029				53,401				49,918				158,348				12,225				170,573
Adjusted EBITDA 8		$	245,750			$	200,512			$	133,171			$	579,433			$	14,422			$	593,855
Net revenue		$	1,546,545			$	1,009,031			$	856,503			$	3,412,079				156,657			$	3,568,736
Adjusted EBITDA margin 8			15.9	%			19.9	%			15.5	%			17.0	%			9.2	%			16.6	%

Note: Adjusted EBITDA is a non-GAAP financial measure. The table above provides a reconciliation of adjusted EBITDA for each segment to net income attributable to H.B. Fuller for each segment, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

NMP = Non-meaningful percentage

H.B. FULLER COMPANY AND SUBSIDIARIES
SEGMENT FINANCIAL INFORMATION
NET REVENUE GROWTH (DECLINE)
(unaudited)
Net revenue growth (decline) versus 2024		Three Months Ended				Year Ended
		November 29, 2025				November 29, 2025
Price			1.2	%			0.8	%
Volume			(2.5	)%			(0.8	)%
Organic growth (decline) 14			(1.3	)%			0.0	%
M&A			(2.8	)%			(2.1	)%
Constant currency			(4.1	)%			(2.1	)%
F/X			1.0	%			(0.6	)%
Total H.B. Fuller net revenue growth (decline)			(3.1	)%			(2.7	)%

Net revenue growth (decline) versus 2024		Three Months Ended
		November 29, 2025
		Net Revenue				F/X				Constant Currency				M&A				Organic Growth 14
Hygiene, Health and Consumable Adhesives			1.2	%			1.0	%			0.2	%			2.0	%			(1.8	)%
Engineering Adhesives			4.1	%			0.8	%			3.3	%			1.1	%			2.2	%
Building Adhesive Solutions			(3.3	)%			1.5	%			(4.8	)%			0.0	%			(4.8	)%
Corporate Unallocated 15			(100.0	)%			0.0	%			(100.0	)%			(100.0	)%			0.0	%
Total H.B. Fuller			(3.1	)%			1.0	%			(4.1	)%			(2.8	)%			(1.3	)%

Net revenue growth (decline) versus 2024		Year Ended
		November 29, 2025
		Net Revenue				F/X				Constant Currency				M&A				Organic Growth 14
Hygiene, Health and Consumable Adhesives			0.3	%			(1.3	)%			1.6	%			1.5	%			0.1	%
Engineering Adhesives			5.2	%			(0.2	)%			5.4	%			4.7	%			0.7	%
Building Adhesive Solutions			0.4	%			0.2	%			0.2	%			1.5	%			(1.3	)%
Corporate Unallocated 15			(100.0	)%			0.0	%			(100.0	)%			(100.0	)%			0.0	%
Total H.B. Fuller			(2.7	)%			(0.6	)%			(2.1	)%			(2.1	)%			0.0	%

14 We use the term “organic revenue” to refer to net revenue, excluding the effect of foreign currency changes and acquisitions and divestitures. Organic growth reflects adjustments for the impact of period-over-period changes in foreign currency exchange rates on revenues and the revenues associated with acquisitions and divestitures.

15 Corporate Unallocated includes revenue for the North America Flooring business for the twelve months ended November 30, 2024. This business was sold in the first quarter of 2025 and as a result all activity for prior years was moved to Corporate Unallocated.

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands (unaudited)
																										Trailing Twelve
		Three Months Ended																								Months 18 Ended
		June 1, 2024				August 31, 2024				November 30, 2024				March 1, 2025				May 31, 2025				August 30, 2025				March 1, 2025				August 30, 2025
Net income attributable to H.B. Fuller		$	51,264			$	55,361			$	(7,359	)		$	13,248			$	41,828			$	67,160			$	112,514			$	114,877
Adjustments:
Acquisition project costs 1			1,467				3,474				4,051				9,828				3,602				518				18,820				17,999
Organizational realignment 2			7,275				9,471				15,958				8,774				6,635				4,620				41,478				35,987
Project One 3			2,845				3,154				2,672				3,064				2,581				2,499				11,735				10,816
Business divestiture 4			-				-				47,267				-				-				-				47,267				47,267
Other 5			914				(2,904	)			39				-				44				1,711				(1,951	)			1,794
Discrete tax items 16			1,317				(2,937	)			(1,322	)			992				13,961				(3,742	)			(1,950	)			9,889
Income tax effect on adjustments 7			(1,558	)			(1,624	)			(9,339	)			(5,909	)			(3,999	)			(3,402	)			(18,430	)			(22,649	)
Adjusted net income attributable to H.B. Fuller 8			63,524				63,995				51,967				29,997				64,652				69,364				209,483				215,980
Add:
Interest expense			32,313				35,287				33,621				32,030				34,484				33,369				133,251				133,504
Interest income			(1,197	)			(1,090	)			(1,084	)			(1,100	)			(854	)			(1,110	)			(4,471	)			(4,148	)
Adjusted income taxes			22,658				22,825				18,546				10,862				22,765				23,671				74,891				75,844
Depreciation and Amortization expense 17			39,952				44,235				45,286				42,567				44,613				45,298				172,040				177,764
Adjusted EBITDA 8		$	157,250			$	165,252			$	148,336			$	114,356			$	165,660			$	170,592			$	585,194			$	598,944

16 Discrete tax items for the three months ended June 1, 2024 and for the three months ended August 31, 2024 are related to various foreign tax matters as well as excess tax benefit related to U.S. stock compensation. Discrete tax items for the three months ended November 30, 2024 and for the three months ended March 1, 2025 are related to various foreign tax matters. Discrete tax items for the three months ended May 31, 2025 are primarily related to the impact of withholding tax recorded on earnings that are no longer permanently reinvested, as well as other various U.S. and foreign tax matters. Discrete tax items for the three months ended August 30, 2025 are related to various U.S. and foreign tax matters. Discrete tax items for the year ended November 30, 2025 primarily relate to the impact of withholding tax recorded on earnings that are no longer permanently reinvested, offset by various U.S. and foreign tax matters. Discrete tax items for the year ended November 30, 2024 are related to various foreign tax matters as well as excess tax benefit related to U.S. stock compensation.

17 Depreciation and amortization expense added back for EBITDA is adjusted for amounts already included in adjusted net income attributable to H.B. Fuller. Depreciation and amortization expense added back was ($1,198) for the three months ended June 1, 2024, $194 for the three months ended August 31, 2024, ($711) for the three months ended November 30, 2024, ($30) for the three months ended March 1, 2025, ($70) for the three months ended May 31, 2025 and ($261) for the three months ended August 30, 2025.

18 Trailing twelve months adjusted EBITDA is a non-GAAP financial measure and is defined as adjusted EBITDA for the twelve-month period ended on the date presented. The table above provides a reconciliation of trailing twelve month adjusted EBITDA to net income attributable to H.B. Fuller for the trailing twelve-month period presented, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited)
		March 1, 2025				August 30, 2025				November 29, 2025				November 30, 2024
Total debt		$	2,179,997			$	2,080,470			$	2,016,937			$	2,010,639
Less: Cash and cash equivalents			105,743				122,458				107,213				169,352
Net debt 19		$	2,074,254			$	1,958,012			$	1,909,724			$	1,841,287
Trailing twelve months 19 / Year ended Adjusted EBITDA			585,194				598,944				620,660				593,855
Net Debt-to-Adjusted EBITDA 19			3.5				3.3				3.1				3.1

19 Net debt and net debt-to-adjusted EBITDA are non-GAAP financial measures. Net debt is defined as total debt less cash and cash equivalents. Net debt-to-adjusted EBITDA is defined as net debt divided by trailing twelve months adjusted EBITDA. The calculations of these non-GAAP financial measures are shown in the table above. The table above provides a reconciliation of each of these non-GAAP financial measures to total debt, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. FULLER COMPANY AND SUBSIDIARIES
REGULATION G RECONCILIATION
In thousands (unaudited)
		August 30, 2025				November 29, 2025				November 30, 2024
Trade receivables, net			563,579			$	564,339			$	558,336
Inventory			502,956				471,963				467,498
Trade payables			459,409				470,132				491,435
Net working capital 20		$	607,126			$	566,169			$	534,399
Net revenue three months ended			892,043			$	894,788			$	923,284
Annualized net revenue 20			3,568,172				3,579,151				3,693,136
Net working capital as a percentage of annual net revenue 20			17.0	%			15.8	%			14.5	%

20 Net working capital, annualized net revenue and net working capital as a percentage of annualized net revenue are non-GAAP financial measures. Net working capital is defined as trade receivables, net plus inventory less trade payables. Annualized net revenue is defined as net revenue for the three months ended on the date presented multiplied by four. Net working capital as a percentage of annualized net revenue is net working capital divided by annualized net revenue. The calculations of these non-GAAP financial measures are shown in the table above. The table above provides a reconciliation of each of these non-GAAP financial measures to the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

CONSOLIDATED BALANCE SHEETS
H.B. Fuller Company and Subsidiaries
(In thousands, except share and per share amounts)
		November 29,				November 30,
		2025				2024
Assets
Current assets:
Cash and cash equivalents		$	107,213			$	169,352
Trade receivables, net			564,339				558,336
Inventories			471,963				467,498
Other current assets			119,750				104,019
Total current assets			1,263,265				1,299,205
Property, plant and equipment, net			935,261				881,927
Goodwill			1,680,059				1,532,221
Other intangibles, net			805,867				770,226
Other assets			498,254				449,665
Total assets		$	5,182,706			$	4,933,244
Liabilities, non-controlling interest and total equity
Current liabilities:
Notes payable		$	-			$	587
Trade payables			470,132				491,435
Accrued compensation			114,302				106,005
Income taxes payable			25,018				24,225
Other accrued expenses			133,907				97,038
Total current liabilities			743,359				719,290
Long-term debt, net of current maturities			2,016,937				2,010,052
Accrued pension liabilities			51,317				51,755
Other liabilities			367,899				322,299
Total liabilities			3,179,512				3,103,396
Commitments and contingencies
Equity:
H.B. Fuller stockholders' equity:
Preferred stock (no shares outstanding) Shares authorized – 10,045,900			-				-
Common stock, par value $1.00 per share, Shares authorized – 160,000,000, Shares outstanding – 54,174,963 and 54,657,103 for 2025 and 2024, respectively			54,175				54,657
Additional paid-in capital			298,017				322,636
Retained earnings			2,026,071				1,924,761
Accumulated other comprehensive loss			(375,045	)			(473,395	)
Total H.B. Fuller stockholders' equity			2,003,218				1,828,659
Non-controlling interest			(24	)			1,189
Total equity			2,003,194				1,829,848
Total liabilities, non-controlling interest and total equity		$	5,182,706			$	4,933,244

CONSOLIDATED STATEMENTS of CASH FLOWS
H.B. Fuller Company and Subsidiaries
(In thousands)
		Fiscal Years
		November 29,				November 30,
		2025				2024
Cash flows from operating activities:
Net income including non-controlling interest		$	152,073			$	130,395
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:
Depreciation			91,774				91,054
Amortization			86,546				83,656
Deferred income taxes			(50,094	)			(36,186	)
Income from equity method investments, net of dividends received			(13	)			(537	)
Gain on disposal of assets			(3,702	)			(501	)
Share-based compensation			22,055				21,914
Loss on the sale of a business			2,327				-
Loss on impairment of intangible asset			924				-
Pension and other postretirement benefit plan contributions			(3,267	)			(2,909	)
Pension and other postretirement benefit plan benefit			(21,240	)			(14,444	)
Loss on impairment of assets held for sale			-				47,267
Loss on impairment of equity investment			-				1,966
Gain from insurance proceeds			-				(4,871	)
Gain on fair value adjustment on contingent consideration liabilities			-				(500	)
Change in assets and liabilities, net of effects of acquisitions:
Trade receivables, net			(3,435	)			10,749
Inventories			(10,318	)			(30,099	)
Other assets			(28,709	)			(17,465	)
Trade payables			(38,164	)			47,915
Accrued compensation			4,906				12,653
Other accrued expenses			35,534				6,008
Income taxes payable			(6,090	)			(23,090	)
Other liabilities			34,877				(30,262	)
Foreign currency remeasurement			(2,491	)			9,724
Net cash provided by operating activities			263,493				302,437
Cash flows from investing activities:
Purchased property, plant and equipment			(142,275	)			(139,238	)
Purchased businesses, net of cash acquired			(167,007	)			(273,863	)
Proceeds from the sale of a business			75,727				-
Purchase of cost method investment			(2,549	)			-
Purchase of non-controlling interest			(1,170	)			-
Proceeds from sale of property, plant and equipment			5,025				1,152
Proceeds from insurance recoveries			-				4,871
Net cash used in investing activities			(232,249	)			(407,078	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt			1,300,300				1,932,900
Repayment of long-term debt			(1,305,434	)			(1,764,870	)
Payment of debt issue costs			(1,047	)			(3,493	)
Net payment on notes payable			(587	)			(1,219	)
Dividends paid			(50,271	)			(47,598	)
Proceeds from stock options exercised			9,848				35,927
Repurchases of common stock			(60,713	)			(39,558	)
Net cash (used in) provided by financing activities			(107,904	)			112,089
Effect of exchange rate changes on cash and cash equivalents			14,521				(17,549	)
Net change in cash and cash equivalents			(62,139	)			(10,101	)
Cash and cash equivalents at beginning of year			169,352				179,453
Cash and cash equivalents at end of year		$	107,213			$	169,352

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260114437976/en/

Scott Jensen

Investor Relations Contact

651-236-5060

Source: H.B. Fuller Company