H.B. Fuller Posts Strong Q1 2026 Results, Raises Full-Year Outlook

ST. PAUL, Minn., March 25, 2026 – H.B. Fuller Company (NYSE: FUL), a leading global adhesives provider, has released its financial results for the first quarter ended February 28, 2026. The report reveals improved profitability, robust cost management, and an upgrade to full-year guidance—key points that are likely to be closely watched by investors and could have significant implications for share value.

Key Financial Highlights

• Reported Diluted EPS: \$0.38
• Adjusted Diluted EPS: \$0.57, up 6% year-on-year
• Net Income: \$21 million
• Adjusted EBITDA: \$119 million, up 4% year-on-year
• Adjusted EBITDA Margin: 15.4%, an increase of 90 basis points year-on-year
• Net Revenue: \$771 million (down 2.3% vs. Q1 2025)

Operational and Financial Details

• Organic Revenue Trends:
  • Pricing contributed a 0.6% increase to net revenue.
  • Volume declines led to a 6.6% organic revenue decrease year-on-year.
  • Foreign currency translation added 3.6% and acquisitions contributed 0.7% to net revenue.
• Profitability Drivers:
  • Pricing and raw material cost management more than offset lower volume impacts.
  • Adjusted net income and EPS benefited from higher profitability and lower shares outstanding.
• Segment Results:
  • Hygiene, Health and Consumable Adhesives: \$346.5 million in net revenue.
  • Engineering Adhesives: \$211.7 million in net revenue.
  • Construction Adhesives: \$212.6 million in net revenue.

2026 Full-Year Outlook Upgraded

In a move with potential share price implications, H.B. Fuller has raised its full-year guidance:

• Net revenue is now expected to be up low-single digits (previously flat), with foreign exchange anticipated to be a positive 1% to 2%.
• Adjusted EBITDA now forecasted between \$645 million and \$675 million.
• Adjusted EPS (diluted) raised to a range of \$4.55 to \$4.90.
• Q2 2026 Guidance: Net revenue expected to be up low-single digits; adjusted EBITDA for Q2 anticipated between \$175 million and \$185 million.

Non-GAAP Measures and Management Commentary

The company continues to emphasize non-GAAP metrics such as adjusted EBITDA and adjusted net income as more indicative of operating performance. Management notes that these measures help investors better understand the company’s underlying profitability and facilitate comparisons across periods and with industry peers. All non-GAAP figures are reconciled to GAAP results within the report, except for forward-looking guidance figures.

Shareholder-Relevant and Potentially Price Sensitive Information

• Upward Revision to Guidance: The upgrade to full-year revenue, adjusted EBITDA, and EPS guidance underscores management’s confidence in ongoing cost controls and margin expansion, despite a challenging volume environment.
• Profitability Gains: Sustained improvements in EBITDA and margin, even as revenues declined, suggest enhanced pricing power and successful cost initiatives.
• Share Count Reduction: Adjusted EPS growth was partly driven by a lower number of shares outstanding, indicating active capital management.
• Conference Call and Replay: The company will host an investor call on March 26, 2026 at 9:30 a.m. CT (10:30 a.m. ET), with details for webcast and replay available on the H.B. Fuller investor relations website.

Financial Tables (Select Figures, Q1 2026)

• Gross Profit: \$236.0 million (30.6% of net revenue)
• Selling, General & Administrative Expenses: \$(184.5) million (22.9% of net revenue)
• Operating Income before Tax/Equity Investments: \$27.5 million
• Net Income Attributable to H.B. Fuller: \$21.0 million (2.7% of net revenue)
• Diluted Shares Outstanding: 55.5 million
• Adjusted Net Income: \$31.5 million
• Adjusted Diluted EPS: \$0.57

Risks and Forward-Looking Statements

The company cautioned investors that its outlook and forward-looking statements are subject to risks including economic conditions, raw material volatility, currency fluctuations, litigation, and other factors detailed in its SEC filings.

Conclusion

Investor Takeaway: H.B. Fuller’s Q1 2026 report provides clear evidence of successful cost management and margin expansion, despite softer revenues. The upward revision to full-year guidance is a positive signal for shareholders and may be viewed favorably by the market. Investors should monitor upcoming quarters for volume recovery and additional updates on margin sustainability and capital management.

Disclaimer: The information presented herein is based on the company’s official filings and press releases. This article is for informational purposes only and does not constitute investment advice. Investors should review the full company filings and consult with a financial advisor before making investment decisions. The company’s forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.

View FULLER H B CO Historical chart here