H.B. Fuller Company (FUL) investor relations material

Executive summary

• Delivered strong Q2 2026 results with 5.8% year-over-year revenue growth, 2.6% organic revenue growth, and expanded margins, exceeding EBITDA guidance midpoint.

• Adjusted EPS rose 19% to $1.41; adjusted EBITDA increased 9% to $181 million, with margin up 70 bps to 19.1%.

• Record Q2 operating cash flow of $121 million, supported by pricing actions, restructuring, and supply continuity.

• Announced an all-cash offer to acquire Advanced Medical Solutions (AMS), adding a high-growth medical segment and accelerating portfolio shift.

• Repurchased 750,000 shares in Q2, reducing net share count by 200,000 year-over-year.

Financial highlights

• Q2 2026 revenue up 5.8% year-over-year; organic revenue up 2.6% after FX and acquisitions.

• Adjusted EBITDA of $181 million, up 9% year-over-year; EBITDA margin expanded 70 bps to 19.1%.

• Adjusted EPS up 19% to $1.41; adjusted gross profit margin rose 200 bps to 34.2%.

• Cash flow from operations reached $121 million, a record for Q2.

• Net debt-to-adjusted EBITDA improved to 3.1x from 3.4x 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 $650–$675 million; adjusted EPS now $4.60–$4.90.

• Cash flow from operations forecasted at $300–$325 million.

• Q3 net revenue expected up mid-single digits; adjusted EBITDA $180–$190 million.

• Guidance excludes impact of AMS acquisition.