H.B. Fuller (FUL) Reported Q3 Revenue Beat, EPS In-Line
H.B. Fuller (NYSE: FUL) reported Q3 results, with EPS coming in at $0.79, in line with the Street estimate.
Quarterly revenue grew 20% to $827 million, beating the consensus estimate of $797.48 million. Organic revenue was up 16% driven by volume growth and pricing, with 10% and 6% contributions, respectively.
The company provided its outlook, expecting 15%-17% year-over-year revenue growth for Q4 and 17%-18% growth for the full 2021-year.
According to Jim Owens, the president and CEO of the company, Q4 margins are expected to see significant improvements as a result of recently announced additional price increases and a surcharge on global shipments. The company anticipates 2021 adjusted EBITDA to be around $460-$470 million, representing a year-over-year increase of 13%-16%.
