Net Revenue Decreases 11% for H.B. Fuller in 2020 Second Quarter
Organic revenue in H.B. Fuller’s Hygiene, Health and Consumable Adhesives segment increased 7% compared to the prior-year quarter, while Engineering Adhesives and Construction Adhesives saw declines of 20% and 15%, respectively.
H.B. Fuller Co. recently reported financial results for its second quarter ended May 30, 2020. Net revenue of $675 million decreased 11% compared with the second quarter of 2019. Foreign currency exchange rates and the sale of the surfactants, thickeners, and dispersants business negatively impacted revenues by 4% on a combined basis. Organic revenue excluding these impacts was down 7% vs. the same period last year.
Hygiene, Health and Consumable Adhesives (HHC) organic revenue increased 7% year over year, with double-digit growth in hygiene, packaging, and health and beauty. Engineering Adhesives and Construction Adhesives organic revenue declined 20% and 15% vs. last year, respectively, in line with the company’s planning assumptions for expected impacts related to the COVID-19 pandemic.