Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when FUL files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsH.B. Fuller beats Q2 targets, raises full-year guidance on margin expansion
Filed June 25, 2026 · Period ending June 24, 2026 · ~1 min read
Key Changes
-
high
Adjusted EPS rose 19% YoY to $1.41 in Q2 on 200-bp gross margin expansion; company raised full-year adjusted EPS guidance to $4.60–$4.90 and adjusted EBITDA to $650–$675 million.
Exhibit 99.1 view on EDGAR → -
high
Net revenue grew 5.8% YoY to $950 million with organic revenue up 2.6%; adjusted EBITDA margin expanded 70 bp to 19.1% driven by pricing execution and restructuring savings.
Exhibit 99.1 view on EDGAR → -
medium
Operating cash flow hit a record $121 million in Q2, up ~10% YoY; net working capital improved 260 bp sequentially to 16.4% of annualized revenue.
Exhibit 99.1 view on EDGAR → -
medium
Net debt fell $58 million YoY to $1,958 million; leverage improved to 3.1x net debt-to-adjusted EBITDA from 3.4x a year earlier.
Exhibit 99.1 view on EDGAR → -
medium
Company repurchased 750,000 shares during the quarter, continuing capital return alongside its dividend program.
Exhibit 99.1 view on EDGAR →
Summary
H.B. Fuller delivered a strong second quarter for fiscal 2026, with adjusted earnings per share climbing 19% year-over-year to $1.41 and adjusted EBITDA margin expanding 70 basis points to 19.1%. The margin gains reflect successful pricing execution and cost savings from restructuring, more than offsetting slightly lower volumes. Revenue grew 5.8% to $950 million, with organic growth of 2.6% driven by 3.0% pricing.
The company raised its full-year guidance for both adjusted EBITDA (now $650–$675 million) and adjusted EPS (now $4.60–$4.90), signaling confidence in sustained momentum. Operating cash flow reached a record $121 million in the quarter, supported by a 260-basis-point sequential improvement in working capital efficiency.
Leverage improved to 3.1 times net debt-to-EBITDA from 3.4 times a year earlier, and the company repurchased 750,000 shares during the quarter. For holders, the combination of margin expansion, cash generation, and raised guidance indicates the business is executing well on its operational and capital allocation priorities.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Net revenue was $950 million, up 5.8% year-on-year; organic revenue was up 2.6% year-on-year; ... Gross margin was 33.6%; adjusted gross margin of 34.2% increased 200 basis points year-on-year driven mainly by pricing execution and restructuring savings; ... Net income was $68 million; adjusted EBITDA was $181 million, up 9% versus last year; adjusted EBITDA margin was 19.1%, up 70 basis points year-on-year; ... Reported EPS (diluted) was $1.23; adjusted EPS (diluted) was $1.41, up 19% year-on-year, driven by higher adjusted net income; ... Record second quarter operating cash flow of $121 million dollars, up approximately 10% year-on-year.
H.B. Fuller reported strong second quarter fiscal 2026 results ending May 30, 2026. Net revenue grew 5.8% year-over-year to $950 million, with organic revenue up 2.6% driven by 3.0% pricing that more than offset slightly lower volume. Adjusted gross margin expanded 200 basis points to 34.2% due to pricing execution and restructuring savings. Adjusted EBITDA increased 9% to $181 million with margin up 70 basis points to 19.1%. Adjusted diluted EPS rose 19% to $1.41. Operating cash flow reached a record $121 million for the second quarter, up approximately 10% year-over-year.
Added in current filing · view on EDGAR →
Repurchased 750 thousand shares in the quarter
The company repurchased 750,000 shares during the second quarter of fiscal 2026, demonstrating capital allocation toward returning cash to shareholders alongside its dividend program.
Added in current filing · view on EDGAR →
Adjusted EBITDA for fiscal 2026 is now expected to be in the range of $650 million to $675 million; ... Adjusted EPS (diluted) is now expected to be in the range of $4.60 to $4.90; ... Cash flow from operations for fiscal 2026 is now expected to be in the range of $300 million to $325 million
H.B. Fuller raised its full-year fiscal 2026 guidance based on year-to-date performance. The company now expects adjusted EBITDA of $650 million to $675 million (up from prior guidance) and adjusted diluted EPS of $4.60 to $4.90 (also raised). Operating cash flow guidance was increased to $300 million to $325 million. Net revenue is still expected to be up mid-single digits with organic revenue up low-single digits.
Added in current filing · view on EDGAR →
Net working capital in the second quarter of fiscal 2026 was 16.4% as a percentage of annualized net revenue and decreased 260 basis points sequentially versus the first quarter.
Net working capital as a percentage of annualized revenue improved to 16.4%, down 260 basis points sequentially from the first quarter of fiscal 2026, indicating more efficient use of working capital and supporting the record second quarter operating cash flow.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jun 29, 2026 · How we verify