H. B. Fuller Company (NYSE:FUL) shares are trading lower after the company reported worse-than-expected third-quarter results and revised its FY24 guidance downwards.
Net revenue of $917.93 million missed the consensus of $944.3 million. Organic revenue experienced modest growth, with pricing adjustments causing a 2.6% decline and volume contributing a 3.0% increase.
Adjusted gross profit was $279 million, with an adjusted gross profit margin of 30.4%, representing a 40 basis point increase from the previous year.
Gross profit was driven by volume leverage, restructuring savings, and benefits from acquisitions.
Adjusted EBITDA rose 6% Y/Y to $165 million, fueled by volume growth, ...
