H. B. Fuller Company · NYSE:FUL
H. B. Fuller — Q1 2026 Earnings Presentation
22 slides from H. B. Fuller's earnings presentation, Mar 26, 2026
Slide 1: First Quarter 2026 Earnings Conference Call
H.B. Fuller First Quarter 2026 Earnings Conference Call 1200 Willow Lake Blvd, St Paul, Minnesota 55110 www.hbfuller.com March 26, 2026
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: Q1 Overview
Q1 Overview Organic Revenue decreased 6.6% YOY • Positive pricing was offset by lower volume Adjusted Gross Margin increased 170 basis points to 31.3% YOY Adjusted EBITDA increased 4% year-on-year to $119 million • Achieved the higher end of our Q1 guidance range Adjusted EBITDA Margin increased 90
Slide 4: Global Business Unit Update
Global Business Unit Update Engineering Adhesives Hygiene, Health, and Consumable Adhesives Building Adhesive Solutions Key Metrics Key Metrics Key Metrics • Organic revenue up 3% YOY, excluding • Organic revenue down 10.1% YOY • Organic revenue down 5.1% YOY, Solar; organic revenue down 2% YOY, con
Slide 5: Regional Perspective
Regional Perspective Americas • Organic revenue decreased 4% YOY • Declines in HHC were partially offset by EA, which achieved organic revenue growth of 8% YOY EIMEA • Organic revenue decreased 11% YOY • Driven by tighter customer inventory management in HHC, a weak construction market in BAS, and a
Slide 6: Middle East Developments
Middle East Developments • Expecting significant, broad-based inflationary pressure and significant constraints on raw material availability • Deployed the full strength of our global sourcing and supply-assurance infrastructure, leveraging long-standing strategic relationships and category manageme
Slide 7: Q1 Financial Summary
Q1 Financial Summary • Organic revenue decreased 6.6% YOY • Adjusted gross profit margin increased 170 bps YOY to 31.3% • Adjusted SG&A increased 4% YOY, adjusting for the impact of acquisitions and foreign exchange, adjusted SG&A was down YOY • Adjusted EBITDA increased 4% YOY to $119M • Adjusted E
Slide 8: 2026 Financial Guidance Update
2026 Financial Guidance Update Revenue • Now expect net revenue to be up mid-single digits YOY • Now expect organic revenue to be up low-single digits YOY • Now expect FX translation to positively impact revenue by approximately 1% to 2% Adjusted EBITDA • Now expect adjusted EBITDA to be in the rang
Slide 9: Summary
Summary Our actions ensure we continue to serve customers reliably and differentiate ourselves from our competition • Top priority is the safety and well-being of our employees and customers affected by the ongoing conflict • Project Quantum Leap is progressing well and remains on track; will streng
Slide 10: Q&A
Q&A March 26, 2026 © H.B. Fuller Company, 2026 | 10
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 Three Months February 28, Percent of Ended Percent of 2026 Net Revenue March 1, 2025 Net Revenue Net revenue $ 770,844 100.0 % $
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 February 28, March 1, 2026 2025 Net income attributable to H.B. Fuller $ 21,045 $ 13,248 Adjustments: Acquisition project costs1 931 9,8
Slide 13: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION In thousands (unaudited) Three Months Ended February 28, March 1, 2026 2025 Net Revenue: Hygiene, Health and Consumable Adhesives $ 346,527 $ 368,225 Engineering Adhesives 242,448 236,758 Building Adhesiv
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 February 28, March 1, 2026 2025 Income before income taxes and income from equity method investments $ 27,549 $ 18,712 Adjustments: Acqu
Slide 15: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Three Months Ended February 28, March 1, 2026 2025 Net revenue $ 770,844 $ 788,663 Gross profit $ 236,048 $ 227,075 Gross profit margin 30.6 % 28.8 % Adjustments: Acquisition projec
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 February 28, 2026 Adhesives Adhesives Solutions Total Unallocated Consolidated
Slide 17: 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 March 1, 2025 Adhesives Adhesives Solutions Total Unallocated Consolidated Net
Slide 18: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION NET REVENUE GROWTH (DECLINE) (unaudited) Three Months Ended February 28, 2026 Price 0.6 % Volume (7.2 )% Organic Growth12 (6.6 )% M&A 0.7 % Constant currency (5.9 )% F/X 3.6 % Total H.B. Fuller Net Revenu
Slide 19: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Trailing Months13 Three Months Ended Ended August 30, November 29, February 28, February 28, May 31, 2025 2025 2025 2026 2026 Net income attributable to H.B. Fuller $ 41,828 $ 67,16
Slide 20: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) February 28, November 29, 2026 2025 March 1, 2025 Total debt $ 2,076,062 $ 2,016,937 $ 2,179,997 Less: Cash and cash equivalents 107,877 107,213 105,743 Net debt16 $ 1,968,185 $ 1,9
Slide 21: Regulation G Reconciliations
Regulation G Reconciliations 1 Acquisition project costs include costs related to evaluating, acquiring and integrating business acquisitions. Acquisition project costs include $287 and $9,192 in transaction costs (primarily consulting and professional fees, representations and warranties insurance
Slide 22: 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