H.B. Fuller Company (FUL) Q2 2026 earnings summary

Executive summary

• Delivered strong Q2 2026 results with net revenue of $950 million, up 5.8% year-over-year, and organic revenue growth of 2.6%.

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

• Record Q2 operating cash flow of $121 million, up 10% year-over-year.

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

• AMS acquisition expected to deliver significant synergies and rapid deleveraging, with integration risks noted.

Financial highlights

• Q2 2026 net revenue: $950.3M, up 5.8% year-over-year; organic revenue up 2.6%.

• Adjusted EBITDA: $181M (19.1% margin), up 9% year-over-year.

• Adjusted EPS (diluted): $1.41, up 19% year-over-year.

• Adjusted gross profit margin improved 200 bps to 34.2%.

• Record Q2 operating cash flow: $121M.

Outlook and guidance

• Full-year 2026 net revenue expected to rise mid-single digits; organic revenue up low-single digits.

• Adjusted EBITDA guidance raised to $650–$675 million; adjusted EPS to $4.60–$4.90.

• Operating cash flow forecasted at $300–$325 million.

• Q3 2026 net revenue expected up mid-single digits; adjusted EBITDA $180–$190 million.

• Restructuring and global footprint optimization to complete by 2028, with most charges in 2026–2027.