H.B. Fuller (FUL) Misses Q2 EPS by 11c

H.B. Fuller (NYSE: FUL) reported Q2 EPS of $0.93, $0.11 worse than the analyst estimate of $1.04. Revenue for the quarter came in at $898 million versus the consensus estimate of $970.84 million.

GUIDANCE:

H.B. Fuller sees FY2023 EPS of $3.80-$4.20, versus the consensus of $4.15.

• Adjusted EBITDA for fiscal 2023 is still expected to be in the range of $580 million to $610 million, equating to growth of approximately 9% to 15% versus fiscal year 2022;
• Both net revenue and organic revenue for fiscal 2023 are now expected to be down 3% to 5% versus fiscal 2022, reflecting continued customer destocking actions and slower industrial production; the combined impact of FX, acquisitions, and the extra week in fiscal 2022 are expected to be effectively neutral versus fiscal 2023;
• Net interest expense is now expected to be in the range of $125 million to $135 million and depreciation and amortization expense is expected to be approximately $160 million, reflecting recent acquisition activity and higher interest rates;
• Adjusted EPS (diluted) is now expected to be in the range of $3.80 to $4.20, equating to a range of down 5% to up 5% year-on-year;
• Operating cash flow in fiscal 2023 is now expected to be between $325 million and $375 million.

For earnings history and earnings-related data on H.B. Fuller (FUL) click here.

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