H.B. Fuller Co. recently reported financial results for the first quarter that ended February 27. Net income for the first quarter of 2016 was $18.9 million, vs. net income of $9.7 million in last year’s first quarter. Net revenue for the first quarter of 2016 was $474.3 million, up 0.8% compared to the first quarter of 2015.
“We are off to a solid start to our 2016 fiscal year,” said Jim Owens, president and CEO. “Our 2020 strategic plan identified specific areas of profitable growth and differential management of our EBITDA margins as key drivers. This quarter’s performance aligned with our strategy as we delivered solid organic growth and very strong margin improvement in our targeted segments. Our new engineering adhesives segment delivered growth and margin improvement as expected and our geographical segments all showed solid EBITDA margin performance. Our efforts resulted in over a 40 percent increase in adjusted diluted EPS versus last year’s first quarter and a first quarter EBITDA margin well above historical levels.”
Top 5 News that Sticks for April 3-10
1. Engineering Adhesives Boost H.B. Fuller’s First Quarter 2016 Revenue (#3 last week)
2. Shin-Etsu Silicones Announces Appointments
3. General Motors Recommends Ashland Adhesive