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It has been about a month since the last earnings report for H. B. Fuller (FUL - Free Report) . Shares have added about 1.8% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is H. B. Fuller due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for H. B. Fuller Company before we dive into how investors and analysts have reacted as of late.

H.B. Fuller’s Q3 Earnings Beat Estimates on Pricing & Margin GainsH.B. Fuller reported adjusted earnings of $1.52 per share for the third quarter of fiscal 2026, up 21% from $1.26 a year ago. Earnings surpassed the Zacks Consensus Estimate of $1.45 by 4.8%.

Net revenues rose 5.2% year over year to $938.2 million, beating the Zacks Consensus Estimate of $934.2 million by 0.4%. Results benefited from pricing execution and restructuring savings, which supported profitability despite softer volumes. Organic revenues increased 4.4%, while adjusted EBITDA grew 9% year over year.

Organic revenue growth reflected a 7.4% contribution from pricing, which more than offset a 3% decline in volumes. Foreign currency translation contributed 0.7% to revenue growth, while acquisitions added 0.1%.

The company's pricing initiatives helped counter higher raw material costs and weaker demand. All three global business units recorded positive organic revenue growth, highlighting the benefits of pricing execution across its portfolio.

Margins Expand on Cost SavingsGross profit totaled $311.7 million compared with $285.1 million in the year-ago quarter. Adjusted gross profit increased to $314.6 million from $288.4 million. Adjusted gross margin expanded 120 basis points (bps) year over year to 33.5%, primarily reflecting favorable pricing and restructuring savings.

Selling, general and administrative expenses increased to $198.5 million from $175 million a year earlier. Adjusted expenses were $183 million, up 8% year over year but down 7% sequentially due to expense timing.

Adjusted EBITDA reached $186.7 million compared with $170.6 million in the prior-year quarter. Adjusted EBITDA margin expanded 80 bps to a record 19.9%, reflecting improved operating leverage and continued benefits from the Quantum Leap restructuring program.

Hygiene and Building Segments Post GainsThe Hygiene, Health and Consumable Adhesives segment generated revenues of $413 million, up 7% year over year. Organic revenues grew 6.4%. Adjusted EBITDA increased to $72.8 million from $65.3 million, while the adjusted EBITDA margin improved 70 bps to 17.6%.

Building Adhesive Solutions recorded revenues of $246.5 million, up 5.5% year over year, with organic growth of 5.2%. Adjusted EBITDA increased to $44.8 million from $41.5 million. The segment's adjusted EBITDA margin expanded 50 bps to 18.2%, contributing to the company's broader profitability improvement.

Engineering Business Shows GrowthEngineering Adhesives generated revenues of $278.7 million compared with $272.3 million in the year-ago quarter, representing growth of 2.4%. Organic revenues increased 0.7%, while favorable foreign currency translation contributed 1.3% and acquisitions added 0.4%.

Adjusted EBITDA rose to $66.4 million from $63.4 million a year earlier. Adjusted EBITDA margin improved 50 bps to 23.8%, making Engineering Adhesives the company's highest-margin business unit. The segment delivered improved profitability despite relatively modest organic revenue growth.

Cash Flow Rises, Leverage ImprovesCash flow from operating activities totaled $182.6 million for the first nine months of fiscal 2026, up 17% from $156.8 million in the comparable prior-year period. Capital expenditures totaled $141.7 million, while share repurchases amounted to $48.9 million.

The company exited the quarter with cash and cash equivalents of $97.2 million and total debt of $2.05 billion. Net debt stood at $1.96 billion, roughly flat year over year. Net debt-to-adjusted EBITDA improved to 3 times from 3.3 times a year earlier.

Fiscal 2026 OutlookH.B. Fuller continues to expect fiscal 2026 net revenues to grow at a mid-single-digit rate, with organic revenues increasing at a low-single-digit rate. Pricing is projected to rise at a mid-single-digit rate, while volumes are expected to decline at a low-single-digit rate. Foreign currency translation is anticipated to contribute approximately 2%.

The company now expects adjusted EBITDA between $655 million and $670 million. Adjusted earnings per share are projected in the range of $4.70-$4.85, with the core tax rate anticipated between 25.5% and 26%.

Operating cash flow is expected to remain between $300 million and $325 million, excluding AMS-related items. Management remains focused on its Quantum Leap restructuring initiatives and the anticipated closing of the AMS acquisition before year-end. The company continues progressing toward its adjusted EBITDA margin target of more than 20%.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates revision.

VGM ScoresCurrently, H. B. Fuller has a subpar Growth Score of D, however its Momentum Score is doing a lot better with a B. Charting a somewhat similar path, the stock has a grade of A on the value side, putting it in the top 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, H. B. Fuller has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

ST. PAUL, Minn.--(BUSINESS WIRE)--H.B. Fuller Company (“H.B. Fuller” or “the Company”) (NYSE: FUL), the world's largest pureplay adhesives company, today announced that following a thorough review supported by independent financial and legal advisors, its Board of Directors has unanimously rejected Ancora's second unsolicited, non-binding proposal to acquire its Building Adhesive Solutions (“BAS”) business for between $1.2 billion and $1.4 billion in cash. The Board determined that the modest o.

Key Takeaways H.B. Fuller prices $850M in 7.625% senior unsecured notes due 2034 to fund its planned AMS acquisition.Proceeds will also repay existing credit borrowings and refinance 4.000% notes maturing in February 2027.H.B. Fuller must redeem $450M of the new notes if the AMS acquisition is not completed by June 25, 2027. H.B. Fuller Company (FUL - Free Report) recently priced an offering of $850 million in senior unsecured notes to help finance its planned acquisition of Advanced Medical Solutions Group plc (AMS), repay existing debt and other borrowings to support flexible operations.

The offering comprises 7.625% senior unsecured notes due 2034, with an issue price of 100% of the principal amount. The notes will pay interest semiannually. The issuance is expected to close on or around Oct. 21, 2026, subject to customary closing conditions.

H.B. Fuller intends to use the net proceeds, along with available cash and borrowings, to fund the purchase price for the AMS acquisition. The company also plans to repay borrowings under its existing credit agreement and fund the repayment or redemption of its 4.000% notes due Feb. 15, 2027.

The debt offering is linked to the completion of the AMS acquisition. H.B. Fuller had previously agreed to a cooperation agreement dated June 25, 2026, under which, if the acquisition is not completed by June 25, 2027, H.B. Fuller will be required to redeem $450 million of the new notes at 100% of the issue price, plus accrued and unpaid interest. The financing is expected to support H.B. Fuller's acquisition strategy while addressing upcoming debt maturities.  A higher interest rate can increase financing expenses, but the impact on leverage and cash flow is yet to be seen.

FUL shares have lost 14.1% in the past year against the industry’s 4.8% growth.

Image Source: Zacks Investment Research

FUL’s Zacks Rank & Key PicksFUL currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Reliance, Inc. (RS - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and Axalta Coating Systems Ltd. (AXTA - Free Report) .

RS currently sports a Zacks Rank #1 (Strong Buy), and APD and AXTA carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here

The Zacks Consensus Estimate for RS’ 2026 earnings is pegged at $23.70 per share, indicating a 66.2% year-over-year surge. RSshares have gained 51.2% over the past year.

The Zacks Consensus Estimate for APD’s current fiscal-year earnings is pinned at $13.46 per share, indicating an 11.89% year-over-year rise. APDshares have gained 15.5% over the past year.

The Zacks Consensus Estimate for AXTA’s fiscal 2026 earnings is pegged at $2.63 per share, indicating a year-over-year rise of 5.62%. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 6.4%.

 | Source: Enerpac Tool Group

MILWAUKEE, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Enerpac Tool Group Corp. (NYSE: EPAC) (the “Company” or “Enerpac”) announced today that the Board of Directors is expanding the size of the Board from eight to nine directors and has elected Charles T. Lauber to its Board effective today. Mr. Lauber is a seasoned finance executive with more than 40 years of experience in finance, corporate strategy, mergers and acquisitions, investor relations, capital allocation, and global operations.

Prior to his retirement earlier this year, Mr. Lauber served as Executive Vice President and Chief Financial Officer of A. O. Smith from 2019 to 2026, overseeing the company's global financial operations and helping shape its long-term growth strategy during a distinguished 27-year career with the company. Before joining A. O. Smith in 1999, Mr. Lauber spent 15 years with Ernst & Young LLP, where he advanced to Senior Manager and advised public and private companies on accounting, audit, tax, and financial reporting matters.

Mr. Lauber currently serves on the Board of Directors of H.B. Fuller Company (NYSE: FUL), where he is a member of the Audit Committee and the Personnel & Compensation Committee. He brings extensive expertise in financial oversight, capital allocation, mergers and acquisitions, strategic planning, investor relations, executive compensation, enterprise risk management, and public company governance. He earned a bachelor's degree in accounting from University of Wisconsin-Whitewater and an MBA from the Kellogg School of Management at Northwestern University.

Commenting on the announcement, Jim Ferland, Enerpac Tool Group’s Chairman, said, “Chuck’s extensive financial leadership, strategic insight, and public company governance experience will be a tremendous asset to our Board of Directors. We are pleased to welcome him and look forward to the contributions he will make to the company’s continued success.”

Mr. Lauber added, “I am honored to join the Enerpac Tool Group Board of Directors and look forward to working with my fellow directors and the management team. Enerpac has built a strong reputation in heavy industrial tools, services and solutions, along with a compelling business platform, and I am excited to contribute my experience to support its continued growth and long-term success.”

About Enerpac Tool Group

Enerpac Tool Group Corp. is a premier industrial tools, services, technology, and solutions provider serving a broad and diverse set of customers and end markets for mission-critical applications in more than 100 countries. The Company makes complex, often hazardous jobs possible safely and efficiently. Enerpac Tool Group’s businesses are global leaders in high pressure hydraulic tools, controlled force products, and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Milwaukee, Wisconsin. Enerpac Tool Group common stock trades on the NYSE under the symbol EPAC. For further information on Enerpac Tool Group and its businesses, visit the Company's website at www.enerpactoolgroup.com.

Contact:
Christian Audi
Sr. Director, Investor Relations
914 771 1770­

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Stock to Watch: H. B. Fuller (FUL - Free Report) H.B. Fuller is a global formulator, manufacturer and marketer of adhesives, sealants, coatings, tapes, encapsulants and related specialty chemical products for packaging, hygiene, durable assembly, electronics, transportation, construction and other industrial and consumer applications. The company has sales operations in 34 countries and manufactures at a combined network of plants across the United States and abroad.

FUL is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 10.3; value investors should take notice.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.01 to $4.88 per share. FUL also boasts an average earnings surprise of +3.2%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, FUL should be on investors' short list.

-

Has Obtained a “Highly Confident” Letter from Fortress Investment Group Related to the Debt Financing for the Acquisition

New Offer Represents ~50% of H.B. Fuller’s Current Equity Value, While Only Accounting for ~20% of the Company’s Consolidated Revenue

New Offer Also Values BAS Segment at 8.5x to 9.9x LTM EBITDA, or 9.0x the Segment’s E2026 EBITDA, While the Entire Company Trades at 7.0x 2026 EBITDA

Seeks to Start a New Chapter with the Company’s Independent Directors Who Can Deliver a Win-Win for H.B. Fuller and Shareholders

CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group, LLC (together with its affiliates, “Ancora” or “we”), a meaningful shareholder of H.B. Fuller Company (NYSE: FUL) (“H.B. Fuller” or the “Company”), today sent a letter to the Company’s Board of Directors regarding an enhanced proposal to acquire H.B. Fuller’s Building Adhesive Solutions segment for between $1.2 billion and $1.4 billion in cash. Ancora has also obtained a “highly confident” letter from Fortress Investment Group related to being able to satisfy debt requirements.

The full text of the letter follows:

September 29, 2026

H.B. Fuller Company
Attn: The Board of Directors
1200 Willow Lake Boulevard, P.O. Box 64683
St. Paul, Minnesota 55164-0683

Subject: Enhanced Acquisition Proposal for H.B. Fuller’s Building Adhesive Solutions Segment

Members of the Board of Directors (the “Board”),

We are writing on behalf of Ancora Holdings Group, LLC (together with its affiliates, “Ancora” or “we”) with an enhanced proposal to acquire the Building Adhesive Solutions (“BAS”) segment of H.B. Fuller Company (“H.B. Fuller” or the “Company”) for between $1.2 billion and $1.4 billion in cash. This increased offer is an update to our original acquisition proposal detailed in our August 12, 2026, letter to the Board, in which we proposed to acquire the BAS segment for between $1.1 billion and $1.2 billion in cash.

On August 24, 2026, the Board rejected our initial proposal, purportedly concluding our offer “materially undervalue[d]” the BAS segment despite the cash consideration representing ~40% of the Company’s equity value. Since then, H.B. Fuller’s share price has declined more than 17% as shareholders have been left to digest the Company’s elevated leverage profile, sluggish financial performance and a depressed valuation.

As was the case in August, Ancora remains committed to helping the Company address its multitude of challenges and deliver sustainable value creation for H.B. Fuller’s long-suffering shareholders. We believe the Company’s ~4.0x leverage profile is its most pressing concern given H.B. Fuller’s high mix of variable rate debt in a rising interest rate environment (with this mix even higher following the Advanced Medical Solutions deal financing). We estimate that a sale of the BAS segment represents the most efficient way to accelerate the Company’s leverage reduction and reduce H.B. Fuller’s balance sheet risk for shareholders. We also believe the Company’s commentary regarding the dis-synergies and challenges of separating the BAS segment is completely unfounded based on diligence with our advisors and operating partners, who include former members of H.B. Fuller management. This is why we are now revising our proposal to acquire the BAS segment to provide increased consideration. In addition, our revised offer is also strengthened by the backing of Fortress Investment Group (“Fortress”), which has provided us with a “highly confident” letter related to its ability to provide the necessary debt financing for this acquisition.

Our revised proposal values the BAS segment at a range of 8.5x to 9.9x LTM EBITDA (or 9.0x the segment’s estimated 2026 EBITDA1), while the entire Company currently trades at 7.0x 2026 EBITDA.1 Our enhanced offer now represents ~50% of H.B. Fuller’s current equity value while only accounting for ~20% of the Company’s consolidated revenue. We hope that CFO John Corkrean’s comments on the recent third-quarter earnings call that dis-synergy concerns can be overcome “depending on the potential valuation of a sale of an asset” are indicative of a change in receptiveness in pursuing a win-win deal for the Company, its shareholders and us.

In light of this larger and structurally sound revised offer, it is time for the Board to rationally engage and work towards a solution for the Company’s highly levered capital structure.

ADDITIONAL PROPOSAL DETAILS

The proposed acquisition of the BAS segment would be subject to the following conditions: (i) receipt of required Board and any shareholder approvals; (ii) receipt of any required governmental and third-party approvals (including the expiration or termination of all applicable waiting periods under the Hart-Scott-Rodino Act, to the extent required, and any required consents under any material contracts); (iii) completion of confirmatory due diligence; and (iv) the negotiation and execution of a definitive agreement providing for the acquisition containing customary terms and conditions for a transaction of this type and size. In light of the financing letter from Fortress, we are incredibly confident in our ability to secure necessary financing. Regardless, Ancora believes it has the financial wherewithal to consummate the acquisition. As such, we would not expect the definitive agreement to include a financing contingency.

We, together with our legal advisors, Olshan Frome Wolosky LLP, and operating partners, are ready to conduct required due diligence; negotiate and prepare definitive documentation; and finalize and enter into binding agreements, including, without limitation, any required financing commitments, in short order. We are prepared to devote considerable resources to completing this proposed acquisition. We are confident that with your cooperation, we will be able to execute a definitive transaction agreement without delay.

Please note that our proposal is based entirely on publicly available information. If upon further due diligence, we become aware of some component or aspect of the business and its prospects that evidences additional value inherent in BAS, we are prepared to adjust our proposed price to reflect this new information.

Of course, this letter only constitutes an expression of interest and does not create and shall not be deemed to constitute any legally binding or enforceable obligations on the part of either of us until a definitive transaction agreement is executed. We reserve the right to withdraw or modify any proposal at any time and for any reason.

NEXT STEPS

We ask that the Board’s independent members engage with us directly on this increased proposal. If there is interest, our respective advisors can connect about structuring a confidentiality agreement that enables us to proceed with diligence associated with the proposed acquisition. We continue to believe a negotiated transaction is a far better path for H.B. Fuller and its shareholders than an ongoing public disagreement. Every shareholder is disappointed right now, but we will put aside our past differences and help you start a new chapter of value creation without the overhang distraction.

Regards,

About Ancora

Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management, retirement plan services and insurance solutions to individuals and institutions across the United States. The firm is a long-term supporter of union labor and has a history of working with union groups and public pension plans to deliver long-term value. Ancora’s comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. Ancora Alternatives is the alternative asset management division of Ancora Holdings Group, investing across three primary strategies: activism, multi-strategy and commodities. For more information about Ancora Alternatives, please visit www.ancoraalts.com.

More News From Ancora Holdings Group, LLC

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After publishing its latest quarterly earnings report, chemical company H.B. Fuller (FUL -0.42%) saw its share price erode slightly on Thursday. As a group, investors were slightly dismayed that the company missed on net revenue and posted earnings guidance that could have been more impressive. Fuller's stock declined marginally across that trading session.

Mixed results For its fiscal third quarter of 2026, Fuller's net revenue was $938 million, up 5% year over year. Much of this stemmed from a 7% increase in overall pricing, which mitigated a decline in sales volume.

Image source: Getty Images.

On the bottom line, net income under generally accepted accounting principles (GAAP) jumped almost 18% higher to nearly $79.2 million. On a non-GAAP (adjusted), per-share basis, Fuller's net income was $1.52, well up from the year-ago profit of $1.26.

That meant a mixed quarter for the chemical company (which, by the way, specializes in glues and sealants). It beat the consensus analyst estimate for adjusted net profit ($1.47 per share), but whiffed on the collective pundit projection of more than $948 million for net revenue.

In its earnings release, Fuller said it benefited from its moves on pricing, which helped to offset the higher costs of raw materials. It also said its restructuring efforts were having a positive effect on its business.

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Narrowed bottom-line guidance Fuller also maintained its full-year guidance for net revenue growth, which is expected to top the 2025 figure by a mid-single-digit percentage. The company tightened its adjusted net income guidance to $4.70 to $4.85 per share (previously $4.60 to $4.90).

I think the investor reaction to the company's quarterly performance was reasonable. Although Fuller has been coping better with the current chemical industry downcycle than many of its specialized peers, its results and near-term potential aren't impressive enough to make me hungry to own the stock.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Industrial Chemicals: 3 Stocks Poised for Growth in the New YearH. B. Fuller NYSE: FUL reported third-quarter fiscal 2026 revenue growth and higher profitability as pricing actions and restructuring savings more than offset lower volumes and elevated raw-material costs.

Revenue increased 5.2% from a year earlier, while organic revenue rose 4.4%, driven by 7.4% pricing that was partly offset by lower volume. Adjusted EBITDA increased 9% to $187 million, and adjusted EBITDA margin expanded 80 basis points to 19.9%. Adjusted earnings per share rose 21% year over year to $1.52.

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Acuity Brands Lights Up Opportunity In The Industrial Sector President and Chief Executive Officer Celeste Mastin said the company continued to advance toward its target of an EBITDA margin above 20%. She attributed the quarter's performance to pricing execution, restructuring efforts and efforts to maintain supply continuity amid a disrupted petrochemical supply chain.

Segment results show broad pricing benefits All three global business units recorded margin expansion during the quarter.

Hygiene, Health and Consumable Adhesives: Organic revenue rose 6%, supported by hygiene, beverage labeling, and tape and label markets. Packaging softness partly offset those gains. EBITDA margin increased 70 basis points to 17.6% as the segment posted double-digit pricing performance. Engineering Adhesives: Organic revenue increased about 5% excluding the exited solar business, led by aerospace and general industrial markets. Including solar, organic revenue increased 1%. Electronics demand softened as chip shortages affected mobile-phone production in Asia-Pacific. EBITDA margin rose 50 basis points to 23.8%, reflecting pricing and restructuring savings. Building Adhesive Solutions: Organic revenue grew 5%, driven by roofing and insulating glass, partly offset by weakness in wood. EBITDA increased 8% and margin expanded 50 basis points, primarily from favorable pricing. Dividend King H.B. Fuller Rises On Hopes For ReboundBy geography, organic revenue increased 4% in the Americas, where BAS grew 9%. Europe, India, Middle East and Africa organic revenue rose 9%, with positive pricing across all three business units and volume growth in engineering adhesive markets including automotive and aerospace. Asia-Pacific organic revenue increased 4% excluding solar, led by HHC packaging performance, while total organic revenue was approximately flat including solar.

Mastin said the company has fully lapped its solar exit and does not expect it to have a meaningful impact on Engineering Adhesives or consolidated organic growth going forward.

Supply chain conditions remain unsettled Management said petrochemical supply-chain dislocation remains a defining feature of its operating environment. Raw-material prices have stabilized at elevated levels and are expected to remain at or near current levels through the remainder of the year.

“As conditions warrant, we will judiciously raise price to offset raw material costs and protect our margins,” Mastin said. The company exited the third quarter with pricing up 7.6%, according to management.

During the question-and-answer session, Mastin said volumes performed better than anticipated because customers generally were able to obtain materials other than adhesives despite tight markets. However, she said demand and order patterns have been unusually volatile, particularly among smaller customers, and volumes strengthened late in the quarter.

Management identified construction and China as key areas to watch in fiscal 2027. CFO John Corkrean also cited electronics chip shortages, sluggish residential construction markets and challenges facing large consumer packaged-goods customers as external factors affecting volumes.

Quantum Leap savings and cash-flow initiatives The company said its multi-year Project Quantum Leap manufacturing and distribution optimization program remains on schedule. The initiative began with 82 manufacturing facilities at the end of 2024, and H. B. Fuller expects to exit 2026 with about 62 facilities. Excluding the proposed Advanced Medical Solutions acquisition, it expects to reduce that total below 60 by the end of 2027, progressing toward a goal of 55 facilities.

Quantum Leap is expected to generate approximately $75 million in annualized conversion-cost savings by the end of 2030. Management expects roughly $25 million of benefits to be realized through the end of 2026, followed by $20 million to $25 million of incremental savings in 2027.

The company expects to invest about $150 million of capital over the life of the project, including roughly $50 million in 2026 and less than $25 million in 2027. One-time cash costs are expected to total about $50 million, with proceeds from manufacturing facility and related land sales projected to more than offset those costs.

Corkrean said Quantum Leap is also expected to improve cash flow through lower inventory, reduced maintenance capital spending and working-capital improvements. He said the company sees an opportunity to reduce inventory by at least five days, representing approximately $35 million of operating cash-flow benefit.

Updated outlook and AMS acquisition plans For fiscal 2026, H. B. Fuller maintained its expectation for net revenue to rise by a mid-single-digit percentage and organic revenue to grow by a low-single-digit percentage. The outlook assumes mid-single-digit pricing growth and low-single-digit volume declines.

The company now expects adjusted EBITDA of $655 million to $670 million and adjusted EPS of $4.70 to $4.85. Cash flow from operations, excluding AMS-related items, is still projected at $300 million to $325 million. The outlook does not include the effect of the proposed acquisition of Advanced Medical Solutions.

Management said it remains on track to close the AMS transaction by year-end, subject to the required regulatory approvals. Mastin said the acquisition would strengthen the company’s healthcare portfolio and provide exposure to surgical tissue bonding, which management characterized as a higher-growth medical end market.

Following the transaction, the company expects leverage to return to its targeted range of 2.5 times to 3 times within two years of closing. Net debt to adjusted EBITDA was slightly below three times at the end of the third quarter, compared with 3.3 times a year earlier.

About H. B. Fuller (NYSE:FUL)H.B. Fuller Company NYSE: FUL develops and manufactures specialty adhesives, sealants and other chemical-based products used in industrial and commercial applications. Its solutions help customers bond, seal, coat and assemble materials across a range of products and manufacturing processes.

The company serves markets including packaging, hygiene and disposable products, construction, transportation, electronics, durable assembly, woodworking, flooring, composites and renewable energy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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H. B. Fuller (FUL - Free Report) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.45 per share. This compares to earnings of $1.26 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.83%. A quarter ago, it was expected that this adhesives company would post earnings of $1.37 per share when it actually produced earnings of $1.41, delivering a surprise of +2.92%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

H. B. Fuller, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $938.18 million for the quarter ended August 2026, surpassing the Zacks Consensus Estimate by 0.43%. This compares to year-ago revenues of $892.04 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

H. B. Fuller shares have lost about 14.1% since the beginning of the year versus the S&P 500's gain of 13.4%.

What's Next for H. B. Fuller?While H. B. Fuller has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for H. B. Fuller was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.41 on $944.53 million in revenues for the coming quarter and $4.83 on $3.6 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Minerals Technologies (MTX - Free Report) , has yet to report results for the quarter ended September 2026.

This maker of mineral, mineral-based and synthetic mineral products is expected to post quarterly earnings of $1.57 per share in its upcoming report, which represents a year-over-year change of +1.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Minerals Technologies' revenues are expected to be $552.95 million, up 3.9% from the year-ago quarter.

Net revenue of $938 million, up 5.2% year-on-year; Organic revenue up 4.4% year-on-year

Net income of $79 million; Adjusted EBITDA of $187 million, up 9% year-on-year

Adjusted EBITDA margin of 19.9%, up 80 basis points year-on-year

Reported EPS (diluted) of $1.44; Adjusted EPS (diluted) of $1.52, up 21% year-on-year

ST. PAUL, Minn.--(BUSINESS WIRE)--H.B. Fuller Company (NYSE: FUL) today reported financial results for its third quarter that ended August 29, 2026.

Third Quarter 2026 Noteworthy Items:

Net revenue was $938 million, up 5.2% year-on-year; organic revenue was up 4.4% year-on-year, with organic revenue growth in all three global business units; Gross margin was 33.2%; adjusted gross margin of 33.5% increased 120 basis points year-on-year driven mainly by pricing execution and restructuring savings; Net income was $79 million; adjusted EBITDA was $187 million, up 9% versus last year; adjusted EBITDA margin was a record 19.9%, up 80 basis points year-on-year, with adjusted EBITDA growth and margin improvement in all three global business units; Reported EPS (diluted) was $1.44; adjusted EPS (diluted) was $1.52, up 21% year-on-year, driven by higher adjusted net income. Summary of Third Quarter 2026 Results:

The Company’s net revenue for the third quarter of fiscal 2026 was $938 million, up 5.2% versus the third quarter of fiscal 2025. Pricing increased net revenue by 7.4%, which more than offset lower volume, resulting in a 4.4% organic revenue increase year-on-year. Foreign currency translation and the impact of acquisitions increased net revenue by 0.7% and 0.1%, respectively.

Gross profit in the third quarter of fiscal 2026 was $312 million. Adjusted gross profit was $315 million. Adjusted gross profit margin of 33.5% increased 120 basis points year-on-year. The impact of pricing execution and restructuring savings drove the majority of the year-on-year increase in adjusted gross profit margin.

Selling, general and administrative (SG&A) expense was $198 million in the third quarter of fiscal 2026 and adjusted SG&A was $183 million, up 8% year-over-year and down 7% sequentially from the second quarter of 2026, reflecting the timing of certain expenses.

Net income attributable to H.B. Fuller for the third quarter of fiscal 2026 was $79 million. Adjusted net income attributable to H.B. Fuller for the third quarter of fiscal 2026 was $83 million. Reported EPS (diluted) was $1.44 and adjusted EPS (diluted) was $1.52, up 21% year-on-year.

Adjusted EBITDA in the third quarter of fiscal 2026 was $187 million, up 9% year-on-year, driven principally by the impact of pricing and restructuring savings. Adjusted EBITDA margin increased 80 basis points year-on-year to 19.9%.

“Through disciplined execution, we delivered strong revenue, EBITDA, and EPS growth in the quarter and continued to improve profitability and advance toward our EBITDA margin target of greater than 20 percent,” said Celeste Mastin, president and chief executive officer. “Pricing actions are offsetting higher raw material costs, and our restructuring efforts continue to enhance operating leverage. With the anticipated closing of the AMS acquisition before year-end, we remain focused on strengthening our portfolio, executing our Quantum Leap program, and creating long-term value for shareholders.”

Balance Sheet and Working Capital:

Net debt at the end of the third quarter of fiscal 2026 was $1,957 million, approximately flat year-on-year. Net debt-to-adjusted EBITDA was 3.0X, down from 3.3X at the end of the third quarter of fiscal 2025.

Net working capital in the third quarter of fiscal 2026 was 18.5% of annualized net revenue, up 150 basis points year-on-year. The increase was primarily driven by strategic inventory investments to support Quantum Leap and ensure supply continuity for customers amid ongoing disruption in the Middle East. Year-to-date cash flow from operations was $183 million, up 17% year-on-year.

Fiscal 2026 Outlook:

As a result of our year-to-date performance, we are updating our previously communicated financial guidance for fiscal 2026:

Net revenue for fiscal 2026 is still expected to be up mid-single digits; organic revenue is still expected to be up low-single digits, with pricing up mid-single digits and volume down low-single digits; the impact from foreign exchange is now expected to be approximately 2%; Adjusted EBITDA for fiscal 2026 is now expected to be in the range of $655 million to $670 million; Core tax rate, excluding the impact of discrete items, is now expected to be in the range of 25.5% to 26.0%; Adjusted EPS (diluted) is now expected to be in the range of $4.70 to $4.85; Cash flow from operations for fiscal 2026, excluding the impact of AMS-related items, is still expected to be in the range of $300 million to $325 million. Conference Call:

The Company will hold a conference call on September 24, 2026, at 9:30 a.m. CT (10:30 a.m. ET) to discuss its results. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the Company’s website at https://investors.hbfuller.com. Participants must register prior to accessing the webcast using this link and should do so at least 10 minutes prior to the start of the call to install and test any necessary software and audio connections. A telephone replay of the conference call will be available from 12:30 p.m. CT on September 24, 2026 to 10:59 p.m. CT on October 1, 2026. To access the telephone replay dial 1-833-309-1852 (toll free) or 1-929-828-5978 and enter the Meeting ID: 835696208.

Regulation G:

The information presented in this earnings release regarding consolidated and segment organic revenue growth, operating income, adjusted gross profit, adjusted gross profit margin, adjusted selling, general and administrative expense, adjusted income before income taxes and income from equity investments, adjusted income taxes, adjusted effective tax rate, adjusted net income, adjusted diluted earnings per share, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted EBITDA margin, net debt, net debt-to-adjusted EBITDA, trailing twelve months adjusted EBITDA, net working capital, annualized net revenue and net working capital as a percentage of annualized net revenue does not conform to U.S. generally accepted accounting principles (U.S. GAAP) and should not be construed as an alternative to the reported results determined in accordance with U.S. GAAP. Management has included this non-GAAP information to assist in understanding the operating performance of the company and its operating segments as well as the comparability of results to the results of other companies. The non-GAAP information provided may not be consistent with the methodologies used by other companies. All non-GAAP information is reconciled with reported U.S. GAAP results in the “Regulation G Reconciliation” tables in this press release with the exception of our forward-looking non-GAAP measures contained above in our Fiscal 2026 Outlook, which the company cannot reconcile to forward-looking GAAP results without unreasonable effort.

About H.B. Fuller:

As the largest pureplay adhesives company in the world, H.B. Fuller’s (NYSE: FUL) innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2025 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,100 global team members who collaborate with customers across more than 30 market segments in 150 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets. Learn more at www.hbfuller.com

Safe Harbor for Forward-Looking Statements:

Certain statements in this press release are forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “opportunity,” “outlook,” “plan,” “project,” “seek,” “should,” “strategy,” “target,” “will,” “will be,” “will continue,” “will likely result,” “would” and similar expressions, and variations or negatives of these words or phrases. These statements are subject to various risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including but not limited to the following: the availability and pricing of raw materials; the impact of potential cybersecurity attacks and security breaches; failures in our information technology systems; the impact on the supply chain, raw material costs and pricing of our products due to military conflict, including between Russia and Ukraine; the impact on our margins and product demand due to inflationary pressures; the substantial amount of debt we have incurred to finance our acquisition of Royal, our ability to repay or refinance our debt or to incur additional debt in the future, our need for a significant amount of cash to service and repay the debt and to pay dividends on our common stock, and the effect of debt covenants that limit the discretion of management in operating the business or in paying dividends; our ability to pay dividends and to pursue growth opportunities if we continue to pay dividends according to our current dividend policy; our ability to effectively manage and realize expected benefits from completed and future mergers, acquisitions, and divestitures; our ability to achieve expected synergies, cost savings and operating efficiencies from our restructuring initiatives and operational improvement projects within the expected time frames or at all; our ability to effectively implement Project ONE; uncertain political and economic conditions; fluctuations in product demand; competing products and pricing; our geographic and product mix; disruptions to our relationships with our major customers and suppliers; regulatory compliance across our global footprint; trade policies and economic sanctions impacting our markets; changes in tax laws and tariffs; devaluations and other foreign exchange rate fluctuations; the impact of litigation and investigations, including for product liability and environmental matters; impairment charges on our goodwill or long-lived assets; the consequences of catastrophic events on our operations and financial results; the effect of new accounting pronouncements and accounting charges and credits; and similar matters.

Additional information about these various risks and uncertainties can be found in the “Risk Factors” section of our Form 10-K filings, and any updates to the risk factors in our Form 10-Q and 8-K filings with the SEC, but there may be other risks and uncertainties that we are unable to identify at this time or that we do not currently expect to have a material impact on the business. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update or revise any forward-looking statements, except as required by law.

Three Months Ended

Three Months Ended

August 29, 2026

Percent of

Net Revenue

August 30, 2025

Percent of

Net Revenue

Net revenue

$

938,175

100.0

%

$

892,043

100.0

%

Cost of sales

(626,489

)

(66.8

)%

(606,929

)

(68.0

)%

Gross profit

311,686

33.2

%

285,114

32.0

%

Selling, general and administrative expenses

(198,481

)

(21.2

)%

(174,974

)

(19.6

)%

Other income, net

26,429

2.8

%

5,308

0.6

%

Interest expense

(40,915

)

(4.4

)%

(33,630

)

(3.8

)%

Interest income

2,489

0.3

%

1,110

0.1

%

Income before income taxes and income from equity method investments

101,208

10.8

%

82,928

9.3

%

Income taxes

(24,656

)

(2.6

)%

(16,527

)

(1.9

)%

Income from equity method investments

2,630

0.3

%

832

0.1

%

Net income including non-controlling interest

79,182

8.4

%

67,233

7.5

%

Net income attributable to non-controlling interest

-

0.0

%

(73

)

(0.0

)%

Net income attributable to H.B. Fuller

$

79,182

8.4

%

$

67,160

7.5

%

Basic income per common share attributable to H.B. Fuller

$

1.46

$

1.23

Diluted income per common share attributable to H.B. Fuller

$

1.44

$

1.22

Weighted-average common shares outstanding:

Basic

54,235

54,428

Diluted

54,906

55,162

Nine Months Ended

Nine Months Ended

August 29, 2026

Percent of

Net Revenue

August 30, 2025

Percent of

Net Revenue

Net revenue

$

2,659,289

100.0

%

$

2,578,801

100.0

%

Cost of sales

(1,791,902

)

(67.4

)%

(1,780,228

)

(69.0

)%

Gross profit

867,387

32.6

%

798,573

31.0

%

Selling, general and administrative expenses

(585,297

)

(22.0

)%

(541,942

)

(21.0

)%

Other income, net

38,805

1.5

%

15,655

0.6

%

Interest expense

(106,542

)

(4.0

)%

(100,536

)

(3.9

)%

Interest income

6,524

0.2

%

3,064

0.1

%

Income before income taxes and income from equity method investments

220,877

8.3

%

174,814

6.8

%

Income taxes

(57,662

)

(2.2

)%

(55,198

)

(2.1

)%

Income from equity method investments

4,816

0.2

%

2,726

0.1

%

Net income including non-controlling interest

168,031

6.3

%

122,342

4.7

%

Net income attributable to non-controlling interest

-

0.0

%

(106

)

(0.0

)%

Net income attributable to H.B. Fuller

$

168,031

6.3

%

$

122,236

4.7

%

Basic income per common share attributable to H.B. Fuller

$

3.09

$

2.24

Diluted income per common share attributable to H.B. Fuller

$

3.05

$

2.21

Weighted-average common shares outstanding:

Basic

54,465

54,623

Diluted

55,163

55,381

Three Months Ended

Nine Months Ended

August 29,

August 30,

August 29,

August 30,

2026

2025

2026

2025

Net income attributable to H.B. Fuller

$

79,182

$

67,160

$

168,031

$

122,236

Adjustments:

Acquisition project costs1

(10,358

)

518

(8,033

)

13,948

Organizational realignment2

5,834

4,620

20,269

20,028

Project One3

2,700

2,499

8,140

8,146

Other4

8,387

1,711

11,317

1,755

Discrete tax items5

(2,075

)

(3,742

)

(1,621

)

11,210

Income tax effect on adjustments6

(242

)

(3,402

)

(5,628

)

(13,309

)

Adjusted net income attributable to H.B. Fuller7

83,428

69,364

192,475

164,014

Add:

Interest expense

32,953

33,369

97,910

99,884

Interest income

(2,489

)

(1,110

)

(6,519

)

(3,064

)

Adjusted Income taxes

26,973

23,671

64,910

57,297

Depreciation and Amortization expense8

45,844

45,298

137,682

132,477

Adjusted EBITDA7

$

186,709

$

170,592

$

486,458

$

450,608

Diluted Shares

54,906

55,162

55,163

55,381

Adjusted diluted income per common share attributable to H.B. Fuller7

$

1.52

$

1.26

$

3.49

$

2.96

Revenue

$

938,175

$

892,043

$

2,659,289

$

2,578,801

Adjusted EBITDA margin7

19.9

%

19.1

%

18.3

%

17.5

%

Three Months Ended

Nine Months Ended

August 29,

August 30,

August 29,

August 30,

2026

2025

2026

2025

Net Revenue:

Hygiene, Health and Consumable Adhesives

$

412,965

$

386,068

$

1,181,353

$

1,151,768

Engineering Adhesives

278,700

272,297

804,387

785,474

Building Adhesive Solutions

246,510

233,678

673,549

641,559

Corporate unallocated

-

-

-

-

Total H.B. Fuller

$

938,175

$

892,043

$

2,659,289

$

2,578,801

Segment Operating Income (Loss):

Hygiene, Health and Consumable Adhesives

$

53,592

$

46,491

$

138,953

$

119,840

Engineering Adhesives

49,728

46,852

127,727

121,880

Building Adhesive Solutions

28,354

25,859

58,555

54,550

Corporate unallocated

(18,469

)

(9,062

)

(43,145

)

(39,639

)

Total H.B. Fuller

$

113,205

$

110,140

$

282,090

$

256,631

Adjusted EBITDA7

Hygiene, Health and Consumable Adhesives

$

72,773

$

65,324

$

196,374

$

174,178

Engineering Adhesives

66,447

63,427

178,150

170,956

Building Adhesive Solutions

44,760

41,473

107,784

100,810

Corporate unallocated

2,729

368

4,150

4,664

Total H.B. Fuller

$

186,709

$

170,592

$

486,458

$

450,608

Adjusted EBITDA Margin7

Hygiene, Health and Consumable Adhesives

17.6

%

16.9

%

16.6

%

15.1

%

Engineering Adhesives

23.8

%

23.3

%

22.1

%

21.8

%

Building Adhesive Solutions

18.2

%

17.7

%

16.0

%

15.7

%

Corporate unallocated

NMP

NMP

NMP

NMP

Total H.B. Fuller

19.9

%

19.1

%

18.3

%

17.5

%

NMP = non-meaningful percentage

Three Months Ended

Nine Months Ended

August 29,

August 30,

August 29,

August 30,

2026

2025

2026

2025

Income before income taxes and income from equity method investments

$

101,208

$

82,928

$

220,877

$

174,814

Adjustments:

Acquisition project costs1

(10,358

)

518

(8,033

)

13,948

Organizational realignment2

5,834

4,620

20,269

20,028

Project One3

2,700

2,499

8,140

8,146

Other4

8,387

1,711

11,317

1,755

Adjusted income before income taxes and income from equity method investments9

$

107,771

$

92,276

$

252,570

$

218,691

Three Months Ended

Nine Months Ended

August 29,

August 30,

August 29,

August 30,

2026

2025

2026

2025

Income Taxes

$

(24,656

)

$

(16,527

)

$

(57,662

)

$

(55,198

)

Adjustments:

Acquisition project costs1

381

(188

)

(85

)

(3,988

)

Organizational realignment2

(215

)

(1,681

)

(3,491

)

(6,136

)

Project One3

(99

)

(910

)

(1,269

)

(2,548

)

Other4

(309

)

(623

)

(782

)

(637

)

Discrete tax items5

(2,075

)

(3,742

)

(1,621

)

11,210

Adjusted income taxes10

$

(26,973

)

$

(23,671

)

$

(64,910

)

$

(57,297

)

Adjusted income before income taxes and income from equity method investments

$

107,771

$

92,276

$

252,570

$

218,691

Adjusted effective income tax rate10

25.0

%

25.7

%

25.7

%

26.2

%

Three Months Ended

Nine Months Ended

August 29,

August 30,

August 29,

August 30,

2026

2025

2026

2025

Net revenue

$

938,175

$

892,043

$

2,659,289

$

2,578,801

Gross profit

$

311,686

$

285,114

$

867,387

$

798,573

Gross profit margin

33.2

%

32.0

%

32.6

%

31.0

%

Adjustments:

Acquisition project costs1

-

89

-

764

Organizational realignment2

2,952

3,216

10,475

11,140

Project One3

-

-

-

-

Other4

-

-

2,501

-

Adjusted gross profit11

$

314,638

$

288,419

$

880,363

$

810,477

Adjusted gross profit margin11

33.5

%

32.3

%

33.1

%

31.4

%

Three Months Ended

Nine Months Ended

August 29,

August 30,

August 29,

August 30,

2026

2025

2026

2025

Selling, general and administrative expenses

$

(198,481

)

$

(174,974

)

$

(585,297

)

$

(541,942

)

Adjustments:

Acquisition project costs1

9,182

168

10,841

11,528

Organizational realignment2

3,024

1,373

8,647

6,302

Project One3

2,701

2,500

8,141

8,146

Other4

597

1,711

2,522

1,755

Adjusted selling, general and administrative expenses12

$

(182,977

)

$

(169,222

)

$

(555,146

)

$

(514,211

)

Hygiene, Health

Building

Three Months Ended:

and Consumable

Engineering

Adhesive

Segment

Corporate

H.B. Fuller

August 29, 2026

Adhesives

Adhesives

Solutions

Total

Unallocated

Consolidated

Net income attributable to H.B. Fuller

$

56,083

  $

50,825

  $

31,228

  $

138,136

  $

(58,954

)

  $

79,182

Adjustments:

          Acquisition project costs1

-

  -

  -

  -

  (10,358

)

  (10,358

)

Organizational realignment2

-

  -

  -

  -

  5,834

  5,834

Project One3

-

  -

  -

  -

  2,700

  2,700

Other4

-

  -

  -

  -

  8,387

  8,387

Discrete tax items5

-

  -

  -

  -

  (2,075

)

  (2,075

)

Income tax effect on adjustments6

-

  -

  -

  -

  (242

)

  (242

)

Adjusted net income attributable to H.B. Fuller7

56,083

  50,825

  31,228

  138,136

  (54,708

)

  83,428

Add:

          Interest expense

-

  -

  -

  -

  32,953

  32,953

Interest income

-

  -

  -

  -

  (2,489

)

  (2,489

)

Adjusted Income taxes

-

  -

  -

  -

  26,973

  26,973

Depreciation and amortization expense8

16,690

  15,622

  13,532

  45,844

  -

  45,844

Adjusted EBITDA7

$

72,773

  $

66,447

  $

44,760

  $

183,980

  $

2,729

  $

186,709

Revenue

$

412,965

  $

278,700

  $

246,510

  $

938,175

  -

  $

938,175

Adjusted EBITDA Margin7

17.6

%

  23.8

%

  18.2

%

  19.6

%

  NMP

  19.9

%

Hygiene, Health

  Building

Nine Months Ended

and Consumable

  Engineering

Adhesive

Segment

Corporate

H.B. Fuller

August 29, 2026

Adhesives

Adhesives

Solutions

Total

Unallocated

Consolidated

Net income attributable to H.B. Fuller

$

146,429

$

131,020

$

67,177

$

344,626

$

(176,595

)

$

168,031

Adjustments:

Acquisition project costs1

-

-

-

-

(8,033

)

(8,033

)

Organizational realignment2

-

-

-

-

20,269

20,269

Project One3

-

-

-

-

8,140

8,140

Other4

-

-

-

-

11,317

11,317

Discrete tax items5

-

-

-

-

(1,621

)

(1,621

)

Income tax effect on adjustments6

-

-

-

-

(5,628

)

(5,628

)

Adjusted net income attributable to H.B. Fuller7

146,429

131,020

67,177

344,626

(152,151

)

192,475

Add:

Interest expense

-

-

-

-

97,910

97,910

Interest income

-

-

-

-

(6,519

)

(6,519

)

Adjusted Income taxes

-

-

-

-

64,910

64,910

Depreciation and amortization expense8

49,945

47,130

40,607

137,682

-

137,682

Adjusted EBITDA7

$

196,374

$

178,150

$

107,784

$

482,308

$

4,150

$

486,458

Revenue

1,181,353

804,387

673,549

2,659,289

-

2,659,289

Adjusted EBITDA Margin7

16.6

%

22.1

%

16.0

%

18.1

%

NMP

18.3

%

Hygiene, Health

Building

Three Months Ended:

and Consumable

Engineering

Adhesive

Segment

Corporate

H.B. Fuller

August 30, 2025

Adhesives

Adhesives

Solutions

Total

Unallocated

Consolidated

Net income attributable to H.B. Fuller

$

48,697

$

47,820

$

28,409

$

124,926

$

(57,766

)

$

67,160

Adjustments:

Acquisition project costs1

-

-

-

-

518

518

Organizational realignment2

-

-

-

-

4,620

4,620

Project One3

-

-

-

-

2,499

2,499

Other4

-

-

-

-

1,711

1,711

Discrete tax items5

-

-

-

-

(3,742

)

(3,742

)

Income tax effect on adjustments6

-

-

-

-

(3,402

)

(3,402

)

Adjusted net income attributable to H.B. Fuller7

48,697

47,820

28,409

124,926

(55,562

)

69,364

Add:

Interest expense

-

-

-

-

33,369

33,369

Interest income

-

-

-

-

(1,110

)

(1,110

)

Adjusted Income taxes

-

-

-

-

23,671

23,671

Depreciation and amortization expense8

16,627

15,607

13,064

45,298

-

45,298

Adjusted EBITDA7

$

65,324

$

63,427

$

41,473

$

170,224

$

368

$

170,592

Revenue

$

386,068

$

272,297

$

233,678

$

892,043

-

$

892,043

Adjusted EBITDA Margin7

16.9

%

23.3

%

17.7

%

19.1

%

NMP

19.1

%

Hygiene, Health

Building

Nine Months Ended

and Consumable

Engineering

Adhesive

Segment

Corporate

H.B. Fuller

August 30, 2025

Adhesives

Adhesives

Solutions

Total

Unallocated

Consolidated

Net income attributable to H.B. Fuller

$

126,467

$

124,791

$

62,209

$

313,467

$

(191,231

)

$

122,236

Adjustments:

Acquisition project costs1

-

-

-

-

13,948

13,948

Organizational realignment2

-

-

-

-

20,028

20,028

Project One3

-

-

-

-

8,146

8,146

Other4

-

-

-

-

1,755

1,755

Discrete tax items5

-

-

-

-

11,210

11,210

Income tax effect on adjustments6

-

-

-

-

(13,309

)

(13,309

)

Adjusted net income attributable to H.B. Fuller7

126,467

124,791

62,209

313,467

(149,453

)

164,014

Add:

Interest expense

-

-

-

-

99,884

99,884

Interest income

-

-

-

-

(3,064

)

(3,064

)

Adjusted Income taxes

-

-

-

-

57,297

57,297

Depreciation and amortization expense8

47,711

46,165

38,601

132,477

-

132,477

Adjusted EBITDA7

$

174,178

$

170,956

$

100,810

$

445,944

$

4,664

$

450,608

Revenue

$

1,151,768

$

785,474

$

641,559

$

2,578,801

-

$

2,578,801

Adjusted EBITDA Margin7

15.1

%

21.8

%

15.7

%

17.3

%

NMP

17.5

%

Three Months Ended

Nine Months Ended

August 29, 2026

August 29, 2026

Price

7.4

%

3.7

%

Volume

(3.0

)%

(3.3

)%

Organic Growth13

4.4

%

0.4

%

M&A

0.1

%

0.3

%

Constant currency

4.5

%

0.7

%

F/X

0.7

%

2.4

%

Total H.B. Fuller Net Revenue

5.2

%

3.1

%

Revenue growth versus 2025

Three Months Ended

August 29, 2026

Net Revenue

F/X

Constant Currency

M&A

Organic Growth13

Hygiene, Health and Consumable Adhesives

7.0

%

0.6

%

6.4

%

0.0

%

6.4

%

Engineering Adhesives

2.4

%

1.3

%

1.1

%

0.4

%

0.7

%

Building Adhesive Solutions

5.5

%

0.3

%

5.2

%

0.0

%

5.2

%

Corporate Unallocated

0.0

%

0.0

%

0.0

%

0.0

%

0.0

%

Total H.B. Fuller

5.2

%

0.7

%

4.5

%

0.1

%

4.4

%

Revenue growth versus 2025

Nine Months Ended

August 29, 2026

Net Revenue

F/X

Constant Currency

M&A

Organic Growth13

Hygiene, Health and Consumable Adhesives

2.6

%

2.4

%

0.2

%

0.3

%

(0.1

)%

Engineering Adhesives

2.4

%

2.6

%

(0.2

)%

0.5

%

(0.7

)%

Building Adhesive Solutions

5.0

%

2.4

%

2.6

%

0.0

%

2.6

%

Corporate Unallocated

0.0

%

0.0

%

0.0

%

0.0

%

0.0

%

Total H.B. Fuller

3.1

%

2.4

%

0.7

%

0.3

%

0.4

%

Three Months Ended

Trailing Twelve

Months14 Ended

November 29, 2025

February 28, 2026

May 30, 2026

August 29, 2026

August 29, 2026

Net income attributable to H.B. Fuller

$

29,732

$

21,045

$

67,805

$

79,182

$

197,764

Adjustments:

Acquisition project costs1

1,465

931

1,395

(10,358

)

(6,567

)

Organizational realignment2

11,396

10,022

4,413

5,834

31,665

Project One3

2,091

3,053

2,387

2,700

10,231

Other15

37,400

(95

)

3,024

8,387

48,716

Discrete tax items16

(3,743

)

98

356

(2,075

)

(5,364

)

Income tax effect on adjustments6

(7,745

)

(3,539

)

(1,848

)

(242

)

(13,374

)

Adjusted net income attributable to H.B. Fuller7

70,596

31,515

77,532

83,428

263,071

Add:

Interest expense

32,547

32,373

32,584

32,953

130,457

Interest income

(1,756

)

(2,069

)

(1,961

)

(2,489

)

(8,275

)

Adjusted Income taxes

23,420

10,862

27,075

26,973

88,330

Depreciation and Amortization expense17

45,246

46,023

45,815

45,844

182,928

Adjusted EBITDA7

$

170,053

$

118,704

$

181,045

$

186,709

$

656,511

August 29, 2026

November 29, 2025

August 30, 2025

Total debt

$

2,054,547

$

2,016,937

$

2,080,470

Less: Cash and cash equivalents

97,230

107,213

122,458

Net debt18

$

1,957,317

$

1,909,724

$

1,958,012

Trailing twelve months14 / Year ended Adjusted EBITDA

$

656,511

$

620,660

$

598,944

Net Debt-to-Adjusted EBITDA18

3.0

3.1

3.3

August 29, 2026

May 30, 2026

August 30, 2025

Trade receivables, net

$

648,012

$

622,745

$

563,579

Inventory

582,645

526,737

502,956

Trade payables

(537,126

)

(526,321

)

(459,409

)

Net working capital19

$

693,531

$

623,161

$

607,126

Net revenue three months ended

$

938,175

$

950,271

$

892,043

Annualized net revenue19

3,752,700

3,801,084

3,568,172

Net working capital as a percentage of annualized revenue19

18.5

%

16.4

%

17.0

%

August 29,

November 29,

2026

2025

Assets

Current assets:

Cash and cash equivalents

$

97,230

$

107,213

Accounts receivable (net of allowances of $13,265 and $11,922, as of August 29, 2026 and November 29, 2025, respectively)

648,012

564,339

Inventory

582,645

471,963

Other current assets

157,985

119,750

Total current assets

1,485,872

1,263,265

Property, plant and equipment

2,061,887

1,956,209

Accumulated depreciation

(1,083,003

)

(1,020,948

)

Property, plant and equipment, net

978,884

935,261

Goodwill

1,698,216

1,680,059

Other intangibles, net

748,693

805,867

Other assets

515,383

498,254

Total assets

$

5,427,048

$

5,182,706

Liabilities, non-controlling interest and total equity

Current liabilities:

Accounts payable

$

537,126

$

470,132

Accrued compensation

100,075

114,302

Income taxes payable

33,078

25,018

Other accrued expenses

147,782

133,907

Total current liabilities

818,061

743,359

Long-term debt

2,054,547

2,016,937

Accrued pension liabilities

51,525

51,317

Other liabilities

334,898

367,899

Total liabilities

$

3,259,031

$

3,179,512

Commitments and contingencies

Equity

H.B. Fuller stockholders' equity:

Preferred stock (no shares outstanding) shares authorized – 10,045,900

-

-

Common stock, par value $1.00 per share, shares authorized – 160,000,000, shares issued and outstanding – 53,818,019 and 54,174,963 as of August 29, 2026 and November 29, 2025, respectively

$

53,818

$

54,175

Additional paid-in capital

285,521

298,017

Retained earnings

2,154,643

2,026,071

Accumulated other comprehensive loss

(325,965

)

(375,045

)

Total H.B. Fuller stockholders' equity

2,168,017

2,003,218

Non-controlling interest

-

(24

)

Total equity

2,168,017

2,003,194

Total liabilities, non-controlling interest and total equity

$

5,427,048

$

5,182,706

Nine Months Ended

August 29, 2026

August 30, 2025

Cash flows from operating activities:

Net income including non-controlling interest

$

168,031

$

122,342

Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:

Depreciation

73,278

68,314

Amortization

65,182

64,525

Deferred income taxes

(15,478

)

(39,227

)

Loss from equity method investments, net of dividends received

1,422

1,045

Loss on the sale of business

-

1,515

Loss on impairment of intangible asset

-

478

Gain on sale or disposal of assets

(1,025

)

(178

)

Share-based compensation

20,144

18,170

Pension and other post-retirement plan benefit

(18,301

)

(16,393

)

Loss on debt extinguishment

6,598

-

Unrealized gain on foreign exchange forward contract related to acquisition

(19,713

)

-

Change in assets and liabilities, net of effects of acquisitions:

Accounts receivable, net

(78,868

)

(3,336

)

Inventory

(106,440

)

(42,095

)

Other assets

(4,825

)

2,176

Accounts payable

93,622

(25,764

)

Accrued compensation

(15,184

)

(19,230

)

Other accrued expenses

21,131

6,856

Income taxes payable

(3,409

)

(12,993

)

Pension plan assets and liabilities

1,385

(177

)

Other liabilities

(5,110

)

28,622

Foreign currency remeasurement

189

2,106

Net cash provided by operating activities

182,629

156,756

Cash flows from investing activities:

Purchased property, plant and equipment

(141,653

)

(94,593

)

Purchased businesses, net of cash acquired

(3,817

)

(162,095

)

Payment of holdback on acquisitions

(11,627

)

-

Proceeds from sale of property, plant and equipment

4,638

843

Purchase of cost method investment

-

(2,549

)

Proceeds from the sale of a business

-

75,727

Net cash used in investing activities

(152,459

)

(182,667

)

Cash flows from financing activities:

Proceeds from issuance of long-term debt

1,643,500

1,114,300

Repayment of long-term debt

(1,603,993

)

(1,053,593

)

Payment of debt issuance costs

(15,067

)

(1,047

)

Net payment of notes payable

-

(585

)

Dividends paid

(39,149

)

(37,559

)

Proceeds from stock options exercised

12,177

5,519

Repurchases of common stock

(48,862

)

(60,728

)

Net cash used in financing activities

(51,394

)

(33,693

)

Effect of exchange rate changes on cash and cash equivalents

11,241

12,710

Net change in cash and cash equivalents

(9,983

)

(46,894

)

Cash and cash equivalents at beginning of period

107,213

169,352

Cash and cash equivalents at end of period

$

97,230

$

122,458

More News From H.B. Fuller Company

ST. PAUL, Minn.--(BUSINESS WIRE)--H.B. Fuller (NYSE: FUL), the world's largest pureplay adhesives company, today announced the launch of Kōfinity™, a new product portfolio platform built on the company's proven 4SG technology and created to advance innovation in insulating glass (IG) solutions while maintaining the durability and long-term performance customers have come to expect from 4SG.Window seal failure is one of the leading causes of home and building owner complaints, resulting in foggin.

ST. PAUL, Minn.--(BUSINESS WIRE)--H.B. Fuller (NYSE: FUL), the world's largest pureplay adhesives provider, today announced Bin Dasmal General Trading Co. and Huhtamaki as recipients of its 2026 Customer Innovation Award. From reducing plastic in food packaging to improving the durability of critical infrastructure, this year's H.B. Fuller Customer Innovation Award winners are solving some of the world's most complex manufacturing challenges. The annual awards recognize customers who have devel.

H. B. Fuller (NYSE:FUL – Get Free Report) is projected to issue its Q3 2026 results after the market closes on Wednesday, September 23rd. Analysts expect H. B. Fuller to announce earnings of $1.47 per share and revenue of $948.2480 million for the quarter. Parties may review the information on the company’s upcoming Q3 2026 earning results page for the latest details on the call scheduled for Thursday, September 24, 2026 at 10:30 AM ET.

H. B. Fuller (NYSE:FUL – Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. The company had revenue of $950.27 million during the quarter, compared to analysts’ expectations of $924.83 million. H. B. Fuller had a return on equity of 12.18% and a net margin of 5.29%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, analysts expect H. B. Fuller to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

H. B. Fuller Stock Down 0.1% Shares of H. B. Fuller stock opened at $50.91 on Wednesday. H. B. Fuller has a 12-month low of $48.71 and a 12-month high of $68.63. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The stock has a 50 day moving average price of $56.68 and a two-hundred day moving average price of $59.09. The stock has a market capitalization of $2.74 billion, a P/E ratio of 15.62, a PEG ratio of 0.55 and a beta of 0.97.

H. B. Fuller Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 30th. H. B. Fuller’s dividend payout ratio is currently 30.06%. Insider Activity In related news, VP Nathan Weaver sold 9,561 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $62.06, for a total transaction of $593,355.66. Following the transaction, the vice president owned 11,739 shares of the company’s stock, valued at approximately $728,522.34. The trade was a 44.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.83% of the company’s stock.

Analyst Ratings Changes FUL has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of H. B. Fuller from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. The Goldman Sachs Group set a $67.00 target price on shares of H. B. Fuller in a research report on Friday, June 26th. Royal Bank Of Canada set a $58.00 price target on shares of H. B. Fuller in a report on Wednesday, May 27th. Weiss Ratings downgraded H. B. Fuller from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Finally, Zacks Research upgraded H. B. Fuller from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $67.86.

View Our Latest Stock Analysis on FUL

About H. B. Fuller (Get Free Report)

H.B. Fuller Company (NYSE: FUL) develops and manufactures specialty adhesives, sealants and other chemical-based products used in industrial and commercial applications. Its solutions help customers bond, seal, coat and assemble materials across a range of products and manufacturing processes.

The company serves markets including packaging, hygiene and disposable products, construction, transportation, electronics, durable assembly, woodworking, flooring, composites and renewable energy.

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The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

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One stock to keep an eye on is H. B. Fuller (FUL - Free Report) . FUL is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 12.94. This compares to its industry's average Forward P/E of 21.81. Over the past year, FUL's Forward P/E has been as high as 18.44 and as low as 11.31, with a median of 13.44.

Investors will also notice that FUL has a PEG ratio of 0.89. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. FUL's industry currently sports an average PEG of 1.46. FUL's PEG has been as high as 1.54 and as low as 0.71, with a median of 1.01, all within the past year.

Another notable valuation metric for FUL is its P/B ratio of 1.75. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. FUL's current P/B looks attractive when compared to its industry's average P/B of 3.77. FUL's P/B has been as high as 2.49 and as low as 1.48, with a median of 1.77, over the past year.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. FUL has a P/S ratio of 0.87. This compares to its industry's average P/S of 1.96.

Finally, our model also underscores that FUL has a P/CF ratio of 11.92. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. FUL's current P/CF looks attractive when compared to its industry's average P/CF of 15.34. Within the past 12 months, FUL's P/CF has been as high as 14.30 and as low as 9.48, with a median of 11.67.

These are only a few of the key metrics included in H. B. Fuller's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, FUL looks like an impressive value stock at the moment.

CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group LLC (together with its affiliates, “Ancora”), a meaningful shareholder of H.B. Fuller Company (NYSE: FUL) (“H.B. Fuller” or the “Company”), today reaffirmed its proposal to acquire the Company's Building Adhesive Solutions (“BAS”) segment following H.B. Fuller's Board of Directors' (the “Board”) baseless rejection of the offer and issued the following statement: “First and foremost, Ancora reaffirms the offer that it recently submitted, as it is.

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Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: H. B. Fuller (FUL - Free Report) H.B. Fuller is a global formulator, manufacturer, and marketer of adhesives, sealants, coatings, tapes, encapsulants and related specialty chemical products for packaging, hygiene, durable assembly, electronics, transportation, construction and other industrial and consumer applications. The company has sales operations in 34 countries and manufactures at a combined network of plants across the United States and abroad.

FUL is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 12.06; value investors should take notice.

Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.09 to $4.87 per share. FUL boasts an average earnings surprise of +2.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, FUL should be on investors' short list.

NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately 2% of the outstanding shares of common stock of H.B. Fuller Company (NYSE: FUL) (“H.B. Fuller” or the “Company”), today released the following letter sent to the Company's Board of Directors. *** August 14, 2026 H.B. Fuller Company 1200 Willow Lake Boulevard, P.O. Box 64683 St. Paul, Minnesota 55164-0683 Attention: The Board of Directors Members of the Board of Directors (the.

ST. PAUL, Minn.--(BUSINESS WIRE)--H.B. Fuller Company (“H.B. Fuller”) (NYSE: FUL), the world's largest pureplay adhesives company, today announced that shareholders of Advanced Medical Solutions Group plc (“AMS”) (LSE:AMS) approved H.B. Fuller's proposed acquisition of AMS at specially convened meetings of AMS shareholders held on August 12, 2026. "We are pleased with this significant milestone," said Celeste Mastin, president and chief executive officer of H.B. Fuller. "AMS is an exceptional c.

Ancora Holdings Group is pushing to acquire H.B. Fuller Co.'s building adhesives unit for as much as $1.2 billion.

CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group LLC (together with its affiliates, “Ancora”), a meaningful shareholder of H.B. Fuller Company (NYSE: FUL) (“H.B. Fuller” or the “Company”), today released the below correspondence sent to the Company's Board of Directors regarding Ancora's proposal to acquire H.B. Fuller's Building Adhesive Solutions (“BAS”) segment for between $1.1 billion and $1.2 billion in cash. The full text of the letter follows: August 12, 2026 H.B. Fuller Company Attn: T.

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Zacks #1 Rank Additions Company (Symbol) Research Texas Instruments (TXN) Analyst Report Signet Jewelers (SIG) Analyst Report Richardson Electroni... (RELL) Snapshot Report JAKKS Pacific (JAKK) Analyst Report Coursera (COUR) Snapshot Report Investment Ideas Earnings Analysis More Analysis Reported Earnings Surprises View All Positive Negative Symbol Time Expected Reported %Surprise GLPEY 02:48 0.34 0.60 +76.47 NBN 07:49 3.40 4.05 +19.12 BMRC 08:31 0.52 0.58 +11.54 BCAL 08:21 0.41 0.44 +7.32 ENSG 06:04 1.80 1.92 +6.67 EPS Positive Surprises for Jul 27, 2026

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Dimensional Fund Advisors LP raised its stake in H. B. Fuller Company (NYSE:FUL – Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,608,006 shares of the specialty chemicals company’s stock after buying an additional 132,558 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.79% of H. B. Fuller worth $160,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cooke & Bieler LP raised its holdings in shares of H. B. Fuller by 13.3% during the 4th quarter. Cooke & Bieler LP now owns 1,677,674 shares of the specialty chemicals company’s stock worth $99,754,000 after acquiring an additional 196,644 shares during the period. Victory Capital Management Inc. grew its holdings in shares of H. B. Fuller by 5.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,228,068 shares of the specialty chemicals company’s stock valued at $73,021,000 after purchasing an additional 66,686 shares during the period. UBS Group AG grew its holdings in shares of H. B. Fuller by 35.0% in the fourth quarter. UBS Group AG now owns 1,108,261 shares of the specialty chemicals company’s stock valued at $65,897,000 after purchasing an additional 287,390 shares during the period. Wellington Management Group LLP increased its position in H. B. Fuller by 3.6% during the third quarter. Wellington Management Group LLP now owns 976,005 shares of the specialty chemicals company’s stock worth $57,858,000 after purchasing an additional 33,522 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in H. B. Fuller by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 879,199 shares of the specialty chemicals company’s stock worth $52,277,000 after purchasing an additional 37,077 shares during the last quarter. 95.93% of the stock is owned by institutional investors and hedge funds.

H. B. Fuller Trading Up 0.8% Shares of NYSE FUL opened at $55.56 on Friday. H. B. Fuller Company has a twelve month low of $48.71 and a twelve month high of $68.63. The company has a current ratio of 1.80, a quick ratio of 1.12 and a debt-to-equity ratio of 1.00. The stock has a fifty day simple moving average of $59.77 and a 200-day simple moving average of $60.85. The stock has a market capitalization of $2.99 billion, a PE ratio of 17.04, a PEG ratio of 0.60 and a beta of 0.98.

H. B. Fuller (NYSE:FUL – Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.04. H. B. Fuller had a return on equity of 12.18% and a net margin of 5.29%.The firm had revenue of $950.27 million for the quarter, compared to the consensus estimate of $924.83 million. During the same quarter in the previous year, the business earned $1.18 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that H. B. Fuller Company will post 4.87 earnings per share for the current year.

H. B. Fuller Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.245 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.98 dividend on an annualized basis and a yield of 1.8%. H. B. Fuller’s dividend payout ratio is 30.06%.

Analyst Ratings Changes FUL has been the topic of several recent analyst reports. Royal Bank Of Canada set a $58.00 target price on shares of H. B. Fuller in a report on Wednesday, May 27th. Raymond James Financial set a $67.00 price target on shares of H. B. Fuller in a report on Friday, June 26th. JPMorgan Chase & Co. raised shares of H. B. Fuller from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $67.00 in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of H. B. Fuller in a research report on Tuesday, June 30th. Finally, Citigroup increased their price objective on H. B. Fuller from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.86.

Get Our Latest Research Report on FUL

H. B. Fuller Profile (Free Report)

H. B. Fuller Company, founded in 1887 and headquartered in St. Paul, Minnesota, is a global adhesives and specialty chemical solutions provider serving a wide array of industries. The company develops, manufactures and markets adhesive technologies, sealants, polymers and related chemical products designed to enhance product performance, sustainability and manufacturing efficiency.

Fuller’s product portfolio spans multiple market segments, including packaging and converting, general industrial assembly, electronics, transportation, hygiene and construction.

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Investors interested in Chemical - Specialty stocks are likely familiar with H. B. Fuller (FUL) and Novozymes A/S (NVZMY).

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It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: H. B. Fuller (FUL - Free Report) H.B. Fuller is a global formulator, manufacturer, and marketer of adhesives, sealants, coatings, tapes, encapsulants and related specialty chemical products for packaging, hygiene, durable assembly, electronics, transportation, construction and other industrial and consumer applications. The company has sales operations in 34 countries and manufactures at a combined network of plants across the United States and abroad.

FUL is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 11.7; value investors should take notice.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.10 to $4.87 per share. FUL also boasts an average earnings surprise of +2.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, FUL should be on investors' short list.

H.B. Fuller Company (NYSE: FUL) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.2450 per share of common stock, pay