H.B. Fuller reported third quarter earnings that surpassed estimates.
The manufacturer of industrial adhesives reported non-GAAP earnings of $1.06 for the quarter, beating the consensus estimate by $0.02. Its adjusted EBITDA margin expanded by 120bps to 14.6%.
Revenue of $941.2 million fell short of the Street expectations by $2.9 million.
For the full year, HB Fuller projects an organic revenue growth of between 17% and 18%. The company boosted the upper end of its adjusted EBITDA forecast range to reflect $540 million to $550 million, from prior projection of $530 million to 550 million.
“We have very effectively managed both economic and currency headwinds and we remain on track to achieve significant double-digit EPS growth and EBITDA growth at the top end of the range we provided in the first quarter”, HB Fuller president and CEO Jim Owens mentioned.