Net Revenue Grows 23% for H.B. Fuller in 2021 Second Quarter
The company posted organic growth in all three global business units, including double-digit growth in Engineering Adhesives and Construction Adhesives.
H.B. Fuller Co. recently reported financial results for its second quarter ended May 29, 2021. According to the company, strong operational execution, benefits from restructuring efficiencies, and improved global industrial demand drove significant revenue and earnings growth vs. the second quarter of fiscal 2020. Revenue was up 22.7% compared to the second quarter of last year, while organic revenue increased 18.8%. Organic revenue increased by 9.5% when compared with the non-COVID-impacted second quarter of 2019.
Net revenue of $828 million increased 22.7% compared with the second quarter of 2020. Foreign currency exchange rates favorably impacted revenue by 3.9%. Organic revenue, which excludes impacts from foreign currency translation, increased 18.8% compared to last year, with organic growth in all three global business units (GBUs), including strong, double-digit growth in Engineering Adhesives and Construction Adhesives.