H.B. Fuller Company reports developments in its global adhesives, sealants and functional coatings business under NYSE symbol FUL. News commonly covers quarterly and annual results, gross margin trends, pricing and raw-material cost actions, dividends on common stock, and portfolio or footprint initiatives tied to Project Quantum Leap.
The company serves packaging, converting, hygiene, health and beauty, construction, engineering and aerospace-related applications through specialty industrial adhesive technologies. Updates also include manufacturing investments, supply-continuity actions, and customer support for regulated markets such as aviation, space and defense.
H.B. Fuller Company (NYSE: FUL) has acquired HS Butyl , the UK's largest manufacturer of high-quality butyl tapes. This acquisition strengthens H.B. Fuller's position in the $15 billion global waterproofing tape market and aligns with the company's strategy to achieve a 20% adjusted EBITDA margin in the next 3-5 years. HS Butyl, with over $23 million in annual sales, exports to more than 50 countries and will operate within H.B. Fuller's Construction Adhesives global business unit.
The acquisition complements H.B. Fuller's existing butyl product line and creates opportunities for new solutions in the Engineering Adhesives market. It also establishes the company's presence in the European waterproofing tape market, which is twice as large as North America's. This move follows H.B. Fuller's 2022 acquisition of GSSI Sealants Inc., further expanding its butyl tape technologies.
H.B. Fuller Company (NYSE: FUL) has declared a regular quarterly cash dividend of $0.2225 per share of common stock. The dividend is payable on August 14, 2024 to shareholders of record at the close of business on July 31, 2024. This announcement marks a significant milestone for the company, as it has consistently paid quarterly cash dividends on its common stock for 56 consecutive years. This long-standing tradition of dividend payments demonstrates H.B. Fuller's commitment to providing steady returns to its shareholders and reflects the company's financial stability and confidence in its business model.
H.B. Fuller, the world's largest pureplay adhesives company, has released its 2023 Sustainability Report, highlighting progress towards global sustainability goals. The company is setting new targets aligned with Science Based Targets Initiative (SBTi) standards and improving data collection and analysis.
Key achievements include:
- Creating six Sustainability Action Subcommittees
- Implementing software for Life Cycle Assessments
- Launching sustainable technologies across various markets
- Reducing Total Recordable Incident Rate by 35% since 2019
- Introducing Employee Voice, an AI-powered survey platform
- Investing in a global mentorship digital platform
- Supporting 186+ organizations through the H.B. Fuller Company Foundation
The report aligns with UN Sustainable Development Goals, Global Reporting Initiative standards, and the Sustainability Accounting Standards Board Index.
H.B. Fuller reported strong financial results for Q2 2024. Net revenue rose 2.1% year-on-year to $917 million, with volume up 3.3% across all global business units. Adjusted EPS increased by 20% year-on-year to $1.12. The company achieved a net income of $51 million and an adjusted EBITDA of $157 million, up 10% year-on-year. Adjusted EBITDA margin rose 120 basis points to 17.1%. Gross profit margin improved by 210 basis points year-on-year to 31.1%, driven by favorable pricing, raw material costs, and restructuring benefits. H.B. Fuller also completed the acquisition of ND Industries, expanded its share repurchase program, and updated its full-year adjusted EBITDA guidance to the upper end of the previously provided range.
H.B. Fuller (NYSE: FUL) will release its Q2 2024 financial results on June 26, 2024, post-market close. The results cover the fiscal period ending June 1, 2024. An investor conference call will be held on June 27, 2024, at 9:30 a.m. CT (10:30 a.m. ET) to discuss the results. Interested parties can access the live webcast and supplemental presentation via the company's website. Pre-registration is required, and participants should register at least 10 minutes before the call. A telephone replay will be available from 12:30 p.m. CT on June 27 to 10:59 p.m. CT on July 4, 2024.
H.B. Fuller (NYSE: FUL), the largest pureplay adhesives company globally, has acquired ND Industries Inc., a key provider of specialty adhesives and fastener solutions for sectors including automotive, electronics, and aerospace. The acquisition aims to boost H.B. Fuller's growth in high-margin market segments within the functional coatings, adhesives, sealants, and elastomer (CASE) industry. ND Industries' Vibra-Tite® products will be integrated into H.B. Fuller's extensive product lineup.
ND Industries, with over 55 years of experience and $70 million in revenue for fiscal 2023, brings a wide range of materials and technology that enhance fastener applications' safety and reliability. The integration involves five U.S. locations and 300 employees, strengthening H.B. Fuller's Engineering Adhesives global business unit.
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