The earnings call presented a mixed picture with strong profitability and margin expansion, offset by revenue declines and challenges in certain segments. The company has shown resilience and a positive outlook on future performance, but faces ongoing challenges in specific markets.

Company Guidance -

Q3 2025

During the H.B. Fuller Second Quarter 2025 Investor Conference Call, the company provided updated guidance reflecting a mix of strong performance and cautious optimism amid ongoing market uncertainties. Organic revenue growth was slightly positive at 0.4%, driven by a 0.7% increase in pricing, though volume was down 0.3% year on year. Adjusted EBITDA grew by 5% to $166 million, with the EBITDA margin expanding by 130 basis points to 18.4%. Segment-wise, HHC saw a 1.8% increase in organic revenue, while Engineering Adhesives experienced a minor revenue decline of 0.4%, despite a 24% increase in EBITDA. Building Adhesive Solutions sales decreased by 0.9%, although EBITDA rose by 5%. Geographically, Americas and Asia Pacific recorded slight organic revenue growth, whereas EIMEA saw a 2% decline. For the full year, net revenue is expected to decrease by 2-3%, while adjusted EBITDA is projected to be between $615 million and $630 million, equating to a growth of 4-6%. Adjusted EPS is anticipated to range from $4.10 to $4.30, a 7-12% increase year on year. The company highlighted its focus on mitigating potential tariff impacts through strategic sourcing and pricing actions, emphasizing resilience and adaptability in a volatile economic landscape.

EBITDA Growth and Margin Expansion

EBITDA grew 5% year on year to $166 million, with an EBITDA margin expansion of 130 basis points year on year to 18.4%.

Positive Performance in Specific Segments

Engineering Adhesives (EA) saw a 24% increase in EBITDA, with an EBITDA margin increase of 310 basis points year on year to 22.9%.

Strong Cash Flow

Second quarter operating cash flow increased by $29 million or 36% year on year, with improved working capital and higher net income.

Positive Outlook and Guidance

Full-year adjusted EPS is expected to grow by 7-12%, with adjusted EBITDA forecasted to grow 4-6% year on year.

Sustainability and Innovation Recognition

H.B. Fuller was named one of the world's greenest companies in 2025 by Newsweek, and several customers were recognized for innovations leveraging adhesive technologies.

H.B. Fuller Company (FUL) Earnings, Revenues Date & History

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FUL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 17, 2025	2025 (Q3)	1.25 / -	1.13	―	―	―
Jun 25, 2025	2025 (Q2)	1.08 / 1.18	1.12	5.36% (+0.06)
Mar 26, 2025	2025 (Q1)	0.49 / 0.54	0.67	-19.40% (-0.13)
Jan 15, 2025	2024 (Q4)	1.00 / 0.92	1.32	-30.30% (-0.40)
Sep 25, 2024	2024 (Q3)	1.19 / 1.13	1.06	6.60% (+0.07)
Jun 26, 2024	2024 (Q2)	1.03 / 1.12	0.93	20.43% (+0.19)
Mar 27, 2024	2024 (Q1)	0.64 / 0.67	0.55	21.82% (+0.12)
Jan 17, 2024	2023 (Q4)	1.27 / 1.32	1.04	26.92% (+0.28)
Sep 27, 2023	2023 (Q3)	1.14 / 1.06	1.06	0.00% (0.00)
Jun 28, 2023	2023 (Q2)	1.04 / 0.93	1.11	-16.22% (-0.18)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FUL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 25, 2025	$55.73	$61.73	+10.77%
Mar 26, 2025	$53.86	$57.12	+6.05%
Jan 15, 2025	$63.37	$61.47	-3.00%
Sep 25, 2024	$79.44	$79.55	+0.14%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.