H.B. Fuller Company (NYSE: FUL) has released its unaudited preliminary financial results for fiscal year 2024, announcing estimated net revenue of approximately $3.57 billion. This marks a significant change compared to the previous guidance for adjusted EBITDA, which was initially expected to be between $610 million and $620 million but is now projected to be approximately $594 million. Adjusted diluted earnings per share are forecasted to be around $3.84.
The company also anticipates cash flow from operations for the year to be approximately $300 million. However, the fourth quarter net revenue and earnings were negatively impacted by weaker-than-expected conditions and delayed orders, particularly in consumer product goods, packaging-related end markets, and durable goods distribution.
The late inflection point in the fourth quarter led to a disappointing shortfall relative to expectations. As a result, the company is focusing on controllable variables and implementing new pricing actions and cost controls. Additionally, ongoing restructuring initiatives are being put in place to streamline the manufacturing footprint and overall SG&A profile.
H.B. Fuller plans to report its financial results for the three-month and twelve-month fiscal periods ended November 30, 2024, in a press release issued after the market close on January 15, 2025. Interested parties can listen to the investor conference call on January 16, 2025, at 9:30 a.m. CT (10:30 a.m. ET) via a live webcast on the company's website.
The company's mission is to connect what matters by providing innovative, functional coatings, adhesives, and sealants that enhance the quality, safety, and performance of products. With more than 7,000 global team members collaborating with customers across over 30 market segments in 140 countries, H.B. Fuller aims to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets. Today the company's shares have moved -6.3% to a price of $63.24. For more information, read the company's full 8-K submission here.
