Thu, Jun 27, 4:52 PM (116 days ago)
H.B. Fuller Company reported a 2.1% increase in net revenue for Q2 2024, reaching $917.1 million, driven by acquisitions and higher sales volumes, partially offset by lower pricing and negative currency impacts. Cost of sales decreased by 1.0% to $635.1 million, improving gross profit margins by 220 basis points due to lower raw material costs. SG&A expenses increased by 8.9% to $181.5 million, affecting operating income. Net income attributable to H.B. Fuller rose 27.0% to $51.3 million, with diluted EPS at $0.91. Cash flow from operations was $129.0 million, and the company maintained a healthy debt-to-capital ratio of 53.0%. The company continues to implement restructuring plans, expecting total costs of $39.1-$44.1 million, with completion anticipated by fiscal 2026.