logo
Plus   Neg
Share
Email

H.B. Fuller Q1 Results Miss Street View

H.B. Fuller Company (FUL) Wednesday reported a first-quarter profit that fell short of Wall Street estimates, as revenues declined.

First-quarter net income dropped to $12.2 million or $0.24 per share from $47.7 million or $0.92 per share last year. The decline in bottom-line largely reflect one-time tax benefit last year related to U.S. tax reforms.

On an adjusted basis, earnings were $0.341 per share, down from $0.351 per share last year. Analysts polled by Thomson Reuters estimate earnings of $0.35 per share for the quarter.

Revenues for the first quarter dropped 5.6% to $672.9 million from $713.1 million last year. Analysts had a consensus revenue estimate of $701.30 million for the quarter.

"We are off to a solid start in 2019, due primarily to our ability to respond quickly to dynamic external conditions impacting our revenue," said CEO Jim Owens. "In the first quarter, we leveraged solid pricing carry-over from 2018 and acquisition synergies to deliver earnings results and debt paydown in-line with our guidance."

Looking forward to the full year 2019, the company reaffirmed its adjusted earnings of $3.15 to $3.45 per share. Analysts currently estimate earnings of $3.29 per share for 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
South Korea's Hyundai Motor Co. announced its decision to suspend production at its Asan plant for two days starting on Monday due to a chip shortage amid the pandemic crisis, Reuters reported. The company is experiencing trouble in supply conditions for semiconductor parts for powertrain control units. The Asan factory manufactures 300,000 vehicles, including the Sonata and Grandeur sedans, each The U.S. Department of Health and Human Services is set to expand its Health Center COVID-19 Vaccine Program to include all HRSA-funded health centers. This will increase the total number of health centers that have been invited to join the program to 1,470 nationwide from the earlier 950. McDonald's Corp. is planning to hire 25,000 workers in its restaurants across Texas in April, reports said. In a three-day event from April 13 to 15, the fast-food chain is expected to hire for crew and management positions. During these hiring days, participating McDonald's restaurants in the state will be accepting applications and interviewing job seekers.
RELATED NEWS
Follow RTT