In Q4 FY2024, H.B. Fuller navigated challenges including elevated raw material costs and delayed pricing actions, impacting margins and income. Strategic restructuring initiatives and divestitures were undertaken to position for long-term growth.
📊 Income Statement Highlights (vs. 4Q FY2023):
▫️Net Income: ($7.36M) vs. $44.99M (-116%)
▫️Adjusted Net Income: $51.97M vs. $74.39M (-30.2%)
▫️Total Revenue: $923.28M vs. $902.88M (+2.3%)
- Organic growth: -0.2%
- M&A impact: +2.7%
- F/X impact: -0.2%
▫️Adjusted EPS: $0.92 vs. $1.32 (-30.3%)
▫️Gross Margin: 28.7% (-170 bps)
▫️Adjusted Gross Margin: 29.6% (-170 bps)
▫️Adjusted EBITDA: $148.34M vs. $172.60M (-14.0%)
▫️Adjusted EBITDA Margin: 16.1% (-300 bps)
💼 Balance Sheet Highlights (vs. FY2023):
▫️Total Assets: $4.93B (+4.4%)
▫️Total Liabilities: $3.10B (+4.6%)
▫️Stockholders’ Equity: $1.83B (+4.2%)
▫️Net Debt: $1.84B (+11%)
▫️Net Working Capital: $534.40M (-7.9%)
▫️Net Debt-to-Adjusted EBITDA: 3.1x (flat YoY)
🔮 Future Outlook:
FY2025 Revenue Growth: -2% to -4%, adjusted for divestitures (+1% to +2% underlying growth).
Adjusted EBITDA: $600M–$625M (+1% to +5%).
Adjusted EPS: $3.90–$4.20 (+2% to +9%).
Operating Cash Flow: $300M–$325M.
CapEx: ~$160M, incl. $40M for restructuring.