H.B. Fuller Sees Net Revenue Jump in Fiscal 2021 First Quarter
Net revenue of $726 million increased 12.3% compared with the first quarter of 2020.
H.B. Fuller Co. recently reported financial results for the first quarter ended February 27, 2021. Net revenue of $726 million increased 12.3% compared with the first quarter of 2020. Foreign currency exchange rates favorably impacted revenue by 1.8%. Organic revenue, which excludes impacts from foreign currency translation, increased 10.5% compared to the 2020 fiscal quarter. Strong sales growth in Engineering Adhesives and Hygiene, Health and Consumable Adhesives offset effects of slower commercial construction and extreme weather on Construction Adhesives revenues.
"Leveraging the momentum we created throughout 2020, the H.B. Fuller team delivered exceptional financial performance of 30% growth in EBITDA in the first quarter of fiscal 2021," said Jim Owens, president and CEO. "It is clear that our diversified business model, coupled with a global focus on operational agility and market-driven innovation, are competitive advantages for H.B. Fuller in the adhesives industry, especially in a changing world.