H.B. Fuller Co. recently reported financial results for the first quarter ended February 29, 2020. Net revenue of $647 million decreased 3.9% compared to the first quarter of 2019. Foreign currency exchange rates and the sale of the surfactants, thickeners, and dispersants business negatively impacted revenues by 2.6% on a combined basis.

Organic revenue, which excludes impacts from foreign currency and divestitures, was down 1.3% vs. last year. Organic revenue growth in Construction Adhesives (CA) partially offset a decline in Engineering Adhesives (EA) and flat revenues in Hygiene, Health and Consumables Adhesives (HHC). The decline in organic revenue was driven by an impact on sales resulting from the COVID-19 pandemic. The company estimates the shutdown in China following the outbreak impacted sales in the region by approximately $15 million in the quarter, including an estimated $12 million in Engineering Adhesives and an estimated $3 million in HHC. Excluding this impact, volumes would have increased compared to last year in all segments.