H. B. Fuller Company · NYSE:FUL
H. B. Fuller — Q3 2025 Earnings Presentation
24 slides from H. B. Fuller's earnings presentation, Sep 25, 2025
Slide 1: Third Quarter 2025 Conference Call
Title Slide Third Quarter 2025 Conference Call September 25, 2025 ® 2025 H.B. Fuller
Slide 2: Disclosure: Safe Harbor Statement and Regulation G
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: Third Quarter Highlights
Third Quarter Highlights Adjusted EBITDA $171M Adjusted EBITDA Margin 19.1% Adjusted EPS $1.26 Up 3% YOY Up 110 bps YOY Up 12% YOY Delivered a strong quarter evidenced by continued margin expansion and double-digit EPS growth despite the challenging operating environment Remain on track to achieve o
Slide 4: Global Business Unit Update
Global Business Unit Update Hygiene, Health, and Engineering Building Adhesive Consumable Adhesives Adhesives Solutions • Organic revenue softened • Organic revenue increased 2%, • Organic sales decreased YOY, as sequentially, as positive pricing driven by positive pricing and positive pricing actio
Slide 5: Regional Perspective
Regional Perspective Americas • Organic revenue up 1% YOY • Driven by strength in EA which achieved a high-single-digit increase and positive organic growth across most segments EIMEA • Organic revenue decreased 2% YOY as continued weakness in core Europe weighed down the region • EA was flat YOY, w
Slide 6: Q3 Financial Summary
Q3 Financial Summary • Organic revenue down 0.9% YOY • Adjusted gross profit margin up 190 bps YOY to 32.3% • Adjusted SG&A was up 3% YOY; Adjusting for M&A, FX and variable comp, SG&A was flat YOY • Adjusted EBITDA was up 3% YOY to $171M • Adjusted EPS of $1.26 was up 12% versus Q3 2024, driven by
Slide 7: Q3 2025 Financial Guidance Update
Q3 2025 Financial Guidance Update Revenue • Still expect net revenue to be down 2 - 3% • Expect organic revenue to be flat to up 1% YOY • Expect foreign exchange to adversely impact revenue by approximately 1% YOY Adjusted EBITDA • Expect adjusted EBITDA to be in the range of $615M - $625M equating
Slide 8: Summary
Summary Took early and proactive measures delivering strong execution on pricing and raw material management, cost controls, and operational efficiency • Remain focused on providing outstanding service and support to our customers • On track to deliver our long-term EBITDA margin and growth targets
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 Ended August 30, Percent of August 31, Percent of 2025 Net Revenue 2024 Net Revenue Net revenue $ 892,043 100.0 % $
Slide 11: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Nine Months Nine Months Ended Ended August 30, Percent of August 31, Percent of 2025 Net Revenue 2024 Net Revenue Net revenue $ 2,578,801 100.0 % $
Slide 12: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands, except per share amounts (unaudited) Three Months Ended Nine Months Ended August 30, August 31, August 30, August 31, 2025 2024 2025 2024 Net income attributable to H.B. Fuller $ 67,160 $ 55,3
Slide 13: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION In thousands (unaudited) Three Months Ended Nine Months Ended August 30, August 31, August 30, August 31, 2025 2024 2025 2024 Net Revenue: Hygiene, Health and Consumable Adhesives $ 386,068 $ 389,980 $ 1,
Slide 14: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands, except per share amounts (unaudited) Three Months Ended Nine Months Ended August 30, August 31, August 30, August 31, 2025 2024 2025 2024 Income before income taxes and income from equity meth
Slide 15: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Three Months Ended Nine Months Ended August 30, August 31, August 30, August 31, 2025 2024 2025 2024 Net revenue $ 892,043 $ 917,927 $ 2,578,801 $ 2,645,452 Gross profit $ 285,114 $
Slide 16: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Hygiene, Health Building Three Months Ended: and Consumable Engineering Adhesive Corporate H.B. Fuller August 30, 2025 Adhesives Adhesives Solutions Total Unallocated Consolidated N
Slide 17: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Hygiene, Health Building Nine Months Ended and Consumable Engineering Adhesive Corporate H.B. Fuller August 30, 2025 Adhesives Adhesives Solutions Total Unallocated Consolidated Net
Slide 18: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Hygiene, Health Building Three Months Ended: and Consumable Engineering Adhesive Corporate H.B. Fuller August 31, 2024 Adhesives Adhesives Solutions Total Unallocated Consolidated N
Slide 19: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Hygiene, Health Building Nine Months Ended and Consumable Engineering Adhesive Corporate H.B. Fuller August 31, 2024 Adhesives Adhesives Solutions Total Unallocated Consolidated Net
Slide 20: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION NET REVENUE GROWTH (DECLINE) (unaudited) Three Months Nine Months Ended Ended August 30, August 30, 2025 2025 Price 1.0 % 0.6 % Volume (1.9 )% (0.2 )% Organic Growth13 (0.9 )% 0.4 % M&A (2.9 )% (1.8 )% Co
Slide 21: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Trailing Twelve Three Months Ended Months18 Ended November March 1, May 31, August 30, August 30, 30, 2024 2025 2025 2025 2025 Net income attributable to H.B. Fuller $ (7,359 ) $ 13
Slide 22: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) August 30, 2025 May 31, 2025 August 31, 2024 Total debt $ 2,080,470 $ 2,112,428 $ 2,021,070 Less: Cash and cash equivalents 122,458 96,785 131,412 Net debt19 $ 1,958,012 $ 2,015,643
Slide 23: Regulation G Reconciliations
Regulation G Reconciliations 1 Acquisition project costs include costs related to evaluating, acquiring and integrating business acquisitions. Acquisition project costs include $1,870 and $2,457 in transaction costs (primarily consulting and professional fees, representations and warranties insuranc
Slide 24: Regulation G Reconciliations
Regulation G Reconciliations 10 Adjusted income taxes and adjusted effective income tax rate are non-GAAP financial measures. Adjusted income taxes is defined as income taxes before the specific adjustments shown above. Adjusted effective income tax rate is defined as income taxes divided by adjuste