H. B. Fuller Company · NYSE:FUL
H. B. Fuller — Q1 2025 Earnings Presentation
21 slides from H. B. Fuller's earnings presentation, Mar 27, 2025
Slide 1: First Quarter 2025 Investor Conference Call
Title Slide First Quarter 2025 Investor Conference Call March 27, 2025 ® 2025 H.B. Fuller
Slide 2: Disclosure
Disclosure Safe Harbor Statement Certain matters discussed today 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 refl
Slide 3: First Quarter Highlights
First Quarter Highlights Adjusted EBITDA $114M Organic Revenue +1.9% YOY Adjusted EPS $0.54 Adjusted EBITDA Margin 14.5% Focused on maintaining pricing discipline, driving market share gains, and effectively managing our cost structure Confident we can successfully adapt and execute in this dynamic
Slide 4: Global Business Unit Update
Global Business Unit Update Hygiene, Health, and Engineering Building Adhesive Consumable Adhesives Adhesives Solutions • Organic revenue up 4% YOY on • Organic revenue declined 2%. • Organic sales increased 2% solid volume growth and YOY positive pricing • Strength in electronics and automotive mar
Slide 5: Regional Perspective
Regional Perspective Americas • Organic revenue down 1% YOY, driven by declines in HHC and EA • BAS achieved organic revenue growth of more than 8% YOY, driven by continued strength in Roofing EIMEA • Organic revenue increased 4% YOY, driven by double-digit organic growth in HHC • Hygiene business p
Slide 6: Q1 Financial Summary
Q1 Financial Summary • Organic revenue up 1.9% YOY • Adjusted gross profit margin was 29.6%, down 50 bps YOY • Adjusted SG&A was up 2% YOY • Adjusted EBITDA of $114 million, foreign exchange negatively impacted adjusted EBITDA by approximately $5 million dollars YOY • Adjusted EPS of $0.54 was down
Slide 7: 2025 Financial Guidance Update
2025 Financial Guidance Update FY Net Revenue • Expect net revenue to be down 2% to 4% YOY; excluding impact of Flooring, net revenue up 1% to 2% YOY • Expect organic revenue to be flat to up 2% YOY FY Adjusted EBITDA • Expect adjusted EBITDA to be in the range of $600M to $625M representing a 1% to
Slide 8: Summary
Summary Focused on streamlining cost structure, improving operational efficiency, and optimizing portfolio mix • Maintaining pricing discipline, being continuously selective about the markets in which we participate, and leveraging our global sourcing infrastructure • Ability to produce in the same
Slide 9: Q&A Session
Q&A Session ® 2025 H.B. Fuller
Slide 10: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Three Months Three Months Ended Percent of Ended Percent of March 1, 2025 Net Revenue March 2, 2024 Net Revenue Net revenue $ 788,663 100.0 % $ 810,
Slide 11: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Three Months Ended March 1, March 2, 2025 2024 Net income attributable to H.B. Fuller $ 13,248 $ 30,991 Adjustments: Acquisition project costs1 9,82
Slide 12: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION In thousands (unaudited) Three Months Ended March 1, March 2, 2025 2024 Net Revenue: Hygiene, Health and Consumable Adhesives $ 368,225 $ 368,078 Engineering Adhesives 236,758 226,075 Building Adhesive So
Slide 13: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Three Months Ended March 1, March 2, 2025 2024 Income before income taxes and income from equity method investments $ 18,712 $ 37,782 Adjustments: A
Slide 14: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Three Months Ended March 1, March 2, 2025 2024 Net revenue $ 788,663 $ 810,419 Gross profit $ 227,075 $ 239,237 Gross profit margin 28.8 % 29.5 % Ad
Slide 15: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Hygiene, Health Building Three Months Ended: and Consumable Engineering Adhesive Corporate H.B. Fuller March 1, 2025 Adhesives Adhesives Solutions T
Slide 16: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Hygiene, Health Building Three Months Ended: and Consumable Engineering Adhesive Corporate H.B. Fuller March 2, 2024 Adhesives Adhesives Solutions T
Slide 17: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION NET REVENUE GROWTH (DECLINE) (unaudited) Three Months Ended March 1, 2025 Price 0.2 % Volume 1.7 % Organic Growth12 1.9 % M&A (1.2 )% Constant currency 0.7 % F/X (3.4 )% Total H.B. Fuller Net Revenue (2.7
Slide 18: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Three Months Ended Trailing Twelve Year Ended June 1, August 31, November March 1, Months Ended18 November 30, 2024 2024 30, 2024 2025 March 1, 2025
Slide 19: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) November 30, March 1, 2025 2024 March 2, 2024 Total debt $ 2,179,997 $ 2,010,639 $ 1,830,797 Less: Cash and cash equivalents 105,743 169,352 165,249
Slide 20: Regulation G Reconciliations
Regulation G Reconciliations 1 Acquisition project costs include costs related to evaluating, acquiring and integrating business acquisitions. Acquisition project costs include $9,192 and $1,293 in transaction costs (primarily consulting and professional fees, representations and warranties insuranc
Slide 21: Regulation G Reconciliations
Regulation G Reconciliations 10 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