H.B. Fuller Company (FUL) Q1 2026 earnings summary

Executive summary

• Organic revenue declined 6.6% year-over-year, with positive pricing offset by lower volumes and challenging market conditions.

• Adjusted EBITDA rose 4% year-over-year to $119 million, with margin expanding 90 basis points to 15.4%.

• Adjusted EPS increased 6% year-over-year to $0.57; reported EPS was $0.38.

• Net income attributable to shareholders rose to $21.0 million from $13.2 million in Q1 2025.

• Margin expansion and profit growth achieved through disciplined cost and portfolio management, restructuring, and pricing actions.

Financial highlights

• Net revenue was $771 million, down 2.3% year-over-year; gross profit margin improved to 30.6%.

• Adjusted gross profit margin rose 170 basis points to 31.3% year-over-year.

• Adjusted EBITDA: $119 million, up 4% year-over-year.

• Adjusted net income was $32 million for the quarter.

• Cash flow from operations improved by $49 million year-over-year.

Outlook and guidance

• Fiscal 2026 net revenue expected to rise mid-single digits; organic revenue up low single digits versus 2025.

• Adjusted EBITDA guidance raised to $645–$675 million; Adjusted EPS to $4.55–$4.90.

• Q2 2026 net revenue expected up low single digits; Adjusted EBITDA $175–$185 million.

• Foreign currency translation expected to add 1%-2% to revenue.

• Management expects restructuring costs to continue into fiscal 2026 and 2027.