Net Revenue Jumps 18% for H.B. Fuller in Fiscal 2022 First Quarter
H.B. Fuller Co. recently reported financial results for its first quarter ended February 26, 2022. Net revenue of $857 million increased 18% compared with the first quarter of 2021. Foreign currency exchange rates unfavorably impacted revenue by 3.7%, while acquisitions favorably impacted revenue by 0.9%. Organic revenue increased 20.8% vs. the prior-year quarter, with 6.1% from volume growth and 14.7% from pricing.
“H.B. Fuller had a strong start to fiscal 2022, with 21% growth in organic revenues and adjusted EPS,” said Jim Owens, president and CEO. “We also delivered adjusted EBITDA growth of 12% which exceeded our guidance for the quarter. Our momentum was driven by volume growth and strong pricing performance in all three of our global business units. Our remarkable first-quarter results are a direct result of executing our multi-year strategy to strengthen our operational agility and grow our portfolio of highly specialized solutions to solve customers’ toughest adhesion problems.