H.B. Fuller Co. recently reported financial results for the fourth quarter and fiscal year that ended December 2, 2017, and initiated guidance for fiscal 2018. Net loss for the fourth quarter of 2017 was $7.6 million, vs. net income of $39.1 million in last year’s fourth quarter. Net revenue for the fourth quarter of 2017 was $678.2 million, up 18% compared to the fourth quarter of 2016.
“We had continued strong revenue performance and excellent cash flow performance in the fourth quarter as organic growth was again very strong,” said Jim Owens, president and CEO. “The pricing actions we implemented early in the year had a positive impact on our margins, however, as a result of Hurricane Harvey and continued environmental controls in China, raw materials continued to increase during the fourth quarter. We have implemented additional pricing actions that will offset inflation in the first half of 2018. Engineering adhesives, Asia-Pacific and Americas all delivered double digit sales growth, with results above our long term targets. Adjusting for the royal acquisition, we had by far our strongest cash flow quarter of the year. Most importantly, we completed the transformative and complementary acquisition of Royal Adhesives which is accelerating our strategy by combining their strong presence in specified adhesive applications with our global reach and focus.”
For more information, visit www.hbfuller.com.
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