HB Fuller Co
NYSE:FUL
HB Fuller Co
In the bustling world of specialty chemicals, H.B. Fuller Co. has crafted its legacy as a venerable figure, tracing its roots back to 1887. At its heart, this company thrives on adhesive innovation, developing products that quite literally hold things together across a multitude of industries. From the intricate electronics in your palm to the robust construction materials that shape our cities, H.B. Fuller's adhesive solutions play a silent, yet vital role. The company has honed its expertise in producing adhesive formulas that cater to diverse markets, including packaging, hygiene, construction, and automotive, revealing its keen ability to adapt its offerings to the ever-evolving needs of its global clientele.
What sets H.B. Fuller apart is not just its product diversity, but its commitment to sustainability and innovation. By investing heavily in R&D, they continue to enhance adhesive technology, ensuring it meets the standards of modern efficiency and environmental consciousness. This strategy is reflected in their emphasis on producing adhesives with reduced environmental impact without compromising performance. Their revenue model is built on successfully integrating their adhesive technologies into the manufacturing processes of their business clients worldwide. Each customized solution not only binds components together but also binds H.B. Fuller Co. to a future focused on sustainable growth and the continuous exploration of new applications for their adhesive expertise.
In the bustling world of specialty chemicals, H.B. Fuller Co. has crafted its legacy as a venerable figure, tracing its roots back to 1887. At its heart, this company thrives on adhesive innovation, developing products that quite literally hold things together across a multitude of industries. From the intricate electronics in your palm to the robust construction materials that shape our cities, H.B. Fuller's adhesive solutions play a silent, yet vital role. The company has honed its expertise in producing adhesive formulas that cater to diverse markets, including packaging, hygiene, construction, and automotive, revealing its keen ability to adapt its offerings to the ever-evolving needs of its global clientele.
What sets H.B. Fuller apart is not just its product diversity, but its commitment to sustainability and innovation. By investing heavily in R&D, they continue to enhance adhesive technology, ensuring it meets the standards of modern efficiency and environmental consciousness. This strategy is reflected in their emphasis on producing adhesives with reduced environmental impact without compromising performance. Their revenue model is built on successfully integrating their adhesive technologies into the manufacturing processes of their business clients worldwide. Each customized solution not only binds components together but also binds H.B. Fuller Co. to a future focused on sustainable growth and the continuous exploration of new applications for their adhesive expertise.
Profit & Margin Expansion: H.B. Fuller delivered double-digit EPS growth and EBITDA at the top end of guidance in Q4, with EBITDA margin up 290 basis points to 19%.
Revenue Decline: Q4 net revenue was down 3.1%, mainly due to a weak economic environment and portfolio repositioning, though organic revenue was nearly flat after adjusting for a divestiture.
2026 Guidance: Management expects flat to up 2% net revenue, continued margin expansion, and adjusted EPS in the range of $4.35–$4.70 for fiscal 2026.
Segment Trends: Engineering Adhesives showed strong growth excluding solar, while BAS and HHC faced softer volumes. Asia Pacific saw strong organic revenue growth, especially in automotive and electronics.
Chinese New Year Impact: Q1 revenue is expected to be down low single digits, mainly due to the timing shift of Chinese New Year, with a rebound anticipated in Q2.
Raw Material Tailwind: The company expects a $35 million year-over-year benefit from pricing and raw material actions in 2026, supporting margin expansion.
M&A Activity: After pausing acquisitions to reduce leverage, management expects 2026 to be a more typical acquisition year, targeting $200–$250 million in purchases.
