H. B. Fuller Company · NYSE:FUL
H. B. Fuller — Q2 2025 Earnings Presentation
26 slides from H. B. Fuller's earnings presentation, Jun 26, 2025
Slide 1: Second Quarter 2025 Conference Call
Title Slide Second Quarter 2025 Conference Call June 26, 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: Second Quarter Highlights
Second Quarter Highlights Adjusted EBITDA and Increased Full-Year 2025 Adjusted Gross Margin Adjusted EPS Adjusted EBITDA and Adjusted Up 110 bps to 32.2% Up 5% YOY EPS Guidance Gross margin was 32.2%, up 110 bps versus last year driven by cost savings, the impact of acquisitions and divestitures, a
Slide 4: Global Business Unit Update
Global Business Unit Update Hygiene, Health, and Engineering Building Adhesive Consumable Adhesives Adhesives Solutions • Organic revenue up 1.7% YOY • Organic revenue declined 0.4%, • Organic sales decreased 0.9% driven by positive volume and up ~2% excluding Solar YOY, as continued strength in pri
Slide 5: Regional Perspective
Regional Perspective Americas • Organic revenue up 2% YOY • Strength in Roofing, Flexible Packing, and Medical principally drove the sales development in the region EIMEA • Organic revenue decreased 2% YOY • Strong performance in our Hygiene business was offset by weak demand in our construction-rel
Slide 6: Q2 Financial Summary
Q2 Financial Summary • Organic revenue was up 0.4% YOY • Adjusted gross profit margin was 32.2%, up 110 bps YOY • Adjusted SG&A was up 2% YOY, flat ex. M&A • Adjusted EBITDA was up 5% YOY to $166M • Adjusted EPS of $1.18 was up 5% verses Q2 2024, driven by higher adjusted net income and lower shares
Slide 7: Q2 2025 Financial Guidance Update
Q2 2025 Financial Guidance Update Revenue • Expect FY 2025 net revenue to be down 2% to 3% • Expect FY 2025 organic revenue to be flat to up 2% YOY Adjusted EBITDA • Expect FY 2025 adjusted EBITDA to be in the range of $615M to $630M representing a 4% to 6% increase YOY Adjusted EPS • Expect FY 2025
Slide 8: Customer Innovation Awards 2025
.-¢e-- Customer | - Innovation ee: Awards 2025 PRESENTED TO = HB. Fuller |
Slide 9: Sustainability at H.B. Fuller
Sustainability at H.B. Fuller • Our 2024 Sustainability Report is now live, learn more on our website • Recognized as One of the World’s Greenest Companies 2025 by Newsweek ® 2025 H.B. Fuller
Slide 10: Summary
Summary Continue to make sustained progress toward our 20%+ EBITDA margin target and are confident that we will meaningfully expand margins YOY again in 2025 • Pleased with our strong first half performance and the momentum we carry into the second half of the year • Despite ongoing economic uncerta
Slide 11: Q&A Session
Q&A Session ® 2025 H.B. Fuller
Slide 12: 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 May 31, 2025 Net Revenue June 1, 2024 Net Revenue Net revenue $ 898,095 100.0 % $ 917,10
Slide 13: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES CONSOLIDATED FINANCIAL INFORMATION In thousands, except per share amounts (unaudited) Six Months Six Months Ended Percent of Ended Percent of May 31, Net June 1, Net 2025 Revenue 2024 Revenue Net revenue $ 1,686,758 100.0 % $ 1,727,52
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 Six Months Ended May 31, June 1, May 31, June 1, 2025 2024 2025 2024 Net income attributable to H.B. Fuller $ 41,828 $ 51,264 $ 55,076 $
Slide 15: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION In thousands (unaudited) Three Months Ended Six Months Ended May 31, June 1, May 31, June 1, 2025 2024 2025 2024 Net Revenue: Hygiene, Health and Consumable Adhesives $ 397,475 $ 393,313 $ 765,700 $ 761,3
Slide 16: 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 Six Months Ended May 31, June 1, May 31, June 1, 2025 2024 2025 2024 Income before income taxes and income from equity method investment
Slide 17: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Three Months Ended Six Months Ended May 31, June 1, May 31, June 1, 2025 2024 2025 2024 Net revenue $ 898,095 $ 917,107 $ 1,686,758 $ 1,727,525 Gross profit $ 286,384 $ 282,052 $ 51
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 May 31, 2025 Adhesives Adhesives Solutions Total Unallocated Consolidated Net i
Slide 19: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Hygiene, Health Building Six Months Ended and Consumable Engineering Adhesive Corporate H.B. Fuller May 31, 2025 Adhesives Adhesives Solutions Total Unallocated Consolidated Net inc
Slide 20: 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 June 1, 2024 Adhesives Adhesives Solutions Total Unallocated Consolidated Net i
Slide 21: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) Hygiene, Health Building Six Months Ended and Consumable Engineering Adhesive Corporate H.B. Fuller June 1, 2024 Adhesives Adhesives Solutions Total Unallocated Consolidated Net inc
Slide 22: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES SEGMENT FINANCIAL INFORMATION NET REVENUE GROWTH (DECLINE) (unaudited) Three Months Six Months Ended Ended May 31, 2025 May 31, 2025 Price 0.7 % 0.5 % Volume (0.3 )% 0.5 % Organic Growth12 0.4 % 1.0 % M&A (1.3 )% (1.2 )% Constant curr
Slide 23: 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 August 31, November March 1, May 31, May 31, 2024 30, 2024 2025 2025 2025 Net income attributable to H.B. Fuller $ 55,361 $ (7,359
Slide 24: Regulation G Reconciliations
Regulation G Reconciliations H.B. FULLER COMPANY AND SUBSIDIARIES REGULATION G RECONCILIATION In thousands (unaudited) May 31, 2025 March 1, 2025 June 1, 2024 Total debt $ 2,112,428 $ 2,179,997 $ 2,024,916 Less: Cash and cash equivalents 96,785 105,743 114,823 Net debt19 $ 2,015,643 $ 2,074,254 $ 1,
Slide 25: Regulation G Reconciliations
Regulation G Reconciliations 1 Acquisition project costs include costs related to evaluating, acquiring and integrating business acquisitions. Acquisition project costs include $3,708 and $1,385 in transaction costs (primarily consulting and professional fees, representations and warranties insuranc
Slide 26: Regulation G Reconciliations
Regulation G Reconciliations 9 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 adjusted