H.B. Fuller (FUL) Tops Q2 EPS by 2c, Revenue Beats
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H.B. Fuller (NYSE: FUL) reported Q2 EPS of $0.94, $0.02 better than the analyst estimate of $0.92. Revenue for the quarter came in at $828 million versus the consensus estimate of $764.37 million.
2021 Planning Assumptions:
- Based on current assumptions, full year 2021 revenue growth is anticipated to be in the low double-digits versus 2020.
- The company expects raw material cost increases to exceed 10% on a full year basis versus 2020, with the most significant margin head winds expected in the third quarter. The company has implemented annualized price adjustments of $150 million effective March 1 through July 15 and is planning additional increases of $75 million in August and September to offset higher raw material costs. The company is prepared to implement further increases as necessary.
- Given these assumptions, the company’s prior outlook for full year adjusted EBITDA in the range of $455 million to $475 million remains unchanged. This reflects adjusted EBTIDA growth of 12% to 17% versus 2020, which is supported by share gains, on-going recovery in global industrial production, pricing actions balancing higher input costs, and benefits from the company’s operational improvement projects.
For earnings history and earnings-related data on H.B. Fuller (FUL) click here.
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