H.B. Fuller Reports Q2 Beat, Provides Guidance
2022.06.23 00:06
H.B. Fuller (FUL) Reports Q2 Beat, Provides Guidance
By Davit Kirakosyan
H.B. Fuller Company (NYSE:FUL) reported its Q2 results, with EPS of $1.11 coming in better than the Street estimate of $1.07. Revenue grew 20% year-over-year to $993 million, beating the Street estimate of $966.38 million. Organic revenue grew 21.9% year-over-year with 3.4% from volume growth and 18.5% from pricing growth.
“H.B. Fuller continues to deliver differentiated performance for our customers and shareholders,” said Jim Owens, H.B. Fuller president and chief executive officer. “In the second quarter, we added to our track record of strong performance by delivering 22% organic revenue growth, a 14% increase in EBITDA and an 18% increase in EPS. Our organic sales have increased by double-digit percentages in each of the last 6 quarters and quarterly EBITDA growth has averaged 15%, even with prolonged supply chain constraints, shortages of materials, and significant economic impacts from COVID shutdowns and a war in Ukraine. With our focus on strategic pricing and delivering innovation to solve the toughest adhesion challenges, we are confident in our full year outlook for fiscal 2022 despite persistent inflationary pressures and expected slowing in some markets. Delivering strong, sustainable shareholder value regardless of the economic environment remains a priority in 2022 and in the years ahead.”
The company expects full 2022-year EPS to be in the range of $4.10-$4.35, compared to the Street estimate of $4.20.
