H.B. Fuller Third Quarter Income Grows
H.B. Fuller Co. recently reported financial results for the third quarter that ended August 29, 2015.
Net income for the quarter was $26.8 million, vs. net income of $4 million in last year's third quarter. Adjusted diluted earnings per share in the third quarter of 2015 were $0.611, up 45% compared to the prior year's adjusted result.
Net revenue for the third quarter of 2015 was $524.1 million, down 0.5% vs. the third quarter of 2014. Higher volume and higher average selling prices reportedly had a positive impacted on net revenue growth by 6.2 and 0.5 percentage points, respectively.
“We continue to drive steady improvements in our business,” said Jim Owens, president and CEO. “We posted an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin of nearly 14% in the third quarter, and we expect further margin improvement in the fourth quarter. The operational problems that hampered us a year ago are largely behind us. Our focus for the final quarter of this year is to re-establish growth momentum in the Americas and EIMEA operating segments, and drive productivity gains across our manufacturing network. We expect a strong finish in the fourth quarter providing strong momentum for the 2016 fiscal year.”
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