FUL earnings analysis
What we found in FUL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
H.B. Fuller reported strong Q2 2026 results with revenues of $950.3 million, exceeding analyst estimates of $924.9 million, and an EPS of $1.23, above the $1.37 consensus. Key drivers include improved pricing and foreign currency effects, contributing positively to gross margins and profitability, while management has raised its adjusted EBITDA and EPS guidance for the remainder of the year.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Exceeds Expectations
- Revenue reached $950.3 million, a 5.8% increase year-over-year, surpassing the expected $924.9 million.
- Strong EPS Performance
- EPS for Q2 2026 was $1.23, higher than the expected $1.37 and up from $0.76 in Q2 2025.
- Improved Gross Margin
- Gross profit margin improved to 33.6%, a 170 basis point increase from the prior year, driven by higher pricing.
- Segment Performance
- Hygiene, Health and Consumable Adhesives grew by 6.1% in revenue to $421.9 million, while Building Adhesive Solutions grew by 9.4%.
- Adjusted EBITDA Increase
- Adjusted EBITDA increased by 9.3% in Q2 2026, reaching $181 million, driven by higher gross profits.
- Liquidity Improvement
- Cash and cash equivalents rose to $114.1 million from $107.2 million at year-end 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- High Debt Levels
- Total debt increased slightly to $2,072.2 million, which remains a concern given the company's leverage.
- Currency Fluctuation Risks
- The company faced some adverse impacts from the strength of the U.S. dollar against emerging market currencies.
- Supply Chain Challenges
- Ongoing global supply chain issues could impact sales volumes and margins in future quarters.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.23
- Gross margin
- 33.6%
- Segment
- Hygiene, Health and Consumable Adhesives
- Segment
- Engineering Adhesives
- Segment
- Building Adhesive Solutions
What they said about what is next.
Management raised its adjusted EBITDA guidance to between $650 million and $675 million for fiscal 2026.
The filing reads better than the one before it.
What came before.
- 10-Q · March 26, 2026
- H.B. Fuller reported net revenue of $770,844,000 in Q1 (Feb 28, 2026), down $124,156,000 (-13.9%) versus the prior quarter (Q4 2025: $895,000,000) and down $17,819,000 (-2.3%) versus Q1 2025 ($788,663,000). Diluted EPS…
- 10-K · January 22, 2026
- H.B. Fuller presents a stable, globally diversified adhesives and specialty-chemicals business with a strategic emphasis on R&D, sustainability and a segment reorganization completed at the start of fiscal 2025. The…
- 10-Q · March 27, 2025
- H.B. Fuller reported net revenue of $788,663,000 for the three months ended March 1, 2025, down from $810,419,000 a year earlier, with diluted EPS of $0.24 versus $0.55 in the prior year. Gross profit fell to…
- 10-K · January 23, 2025
- H.B. Fuller positions itself as a global leader in adhesives, sealants and specialty chemicals with three reportable segments (Hygiene, Health and Consumable Adhesives; Engineering Adhesives; Construction Adhesives) and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing FUL makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever