H.B. Fuller Cuts Outlook After Lower-Than-Expected 3Q Results

Dow Jones09-26

By Connor Hart

H.B. Fuller cut its full-year outlook after slowing market demand resulted in lower-than-expected adjusted per-share earnings and revenue in its fiscal third quarter.

The St. Paul, Minn., specialty chemical company on Wednesday reported a profit of $55.4 million, or 98 cents a share, for its three months ended Aug. 31, compared with $37.6 million, or 67 cents a share, in last year's quarter.

Adjusted per-share earnings were $1.13, missing the $1.23 that analysts polled by FactSet forecast.

Revenue increased 1.9% to about $917.9 million. Analysts were looking for $944 million, according to FactSet.

Chief Executive Celeste Mastin said volumes were hurt by slowing market demand in certain durable goods markets. This decreased demand, she added, resulted in the company lowering its full-year outlook.

H.B. Fuller now expects revenue to be up about 2% for the year. The company had previously guided for revenue to be up 2% to 4%.

Also for the year, H.B. Fuller projects adjusted per-share earnings to come in between $4.10 and $4.20, down from a prior outlook of $4.20 to $4.45. Analysts polled by FactSet expect adjusted earnings of $4.37 a share.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 25, 2024 16:34 ET (20:34 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Fuller cut its full-year outlook after slowing market demand resulted in lower-than-expected adjusted per-share earnings and revenue in its fiscal third quarter. \n</p>\n<p>\n  The St. Paul, Minn., specialty chemical company on Wednesday reported a profit of $55.4 million, or 98 cents a share, for its three months ended Aug. 31, compared with $37.6 million, or 67 cents a share, in last year's quarter. \n</p>\n<p>\n  Adjusted per-share earnings were $1.13, missing the $1.23 that analysts polled by FactSet forecast. \n</p>\n<p>\n  Revenue increased 1.9% to about $917.9 million. Analysts were looking for $944 million, according to FactSet. \n</p>\n<p>\n  Chief Executive Celeste Mastin said volumes were hurt by slowing market demand in certain durable goods markets. This decreased demand, she added, resulted in the company lowering its full-year outlook. \n</p>\n<p>\n  H.B. Fuller now expects revenue to be up about 2% for the year. 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Fuller Cuts Outlook After Lower-Than-Expected 3Q Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-26 04:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Connor Hart \n\n\n \n\n\n  H.B. Fuller cut its full-year outlook after slowing market demand resulted in lower-than-expected adjusted per-share earnings and revenue in its fiscal third quarter. \n\n\n  The ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FUL","symbol_name":"富乐","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2470406213","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2470406213","pubTimestamp":1727296440,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"H.B. 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