UPDATE: H.B. Fuller Posts Decline In FQ2 Net Profit, Lifts Forecast
H.B. Fuller Co (NYSE: FUL) reported a drop in its fiscal second-quarter income.
H.B. Fuller lifted its full-year earnings forecast by $0.05 per share. It now expects earnings from continuing operations of $2.10 to $2.15 per share.
H.B. Fuller's quarterly profit dropped to $1.94 million, or $0.04 per share, from $25.1 million, or $0.51 per share, in the year-ago period. Excluding items, H.B. Fuller's adjusted earnings from continuing operations surged to $0.62 per share from $0.49 per share.
Its revenue climbed 43% to $527 million. However, analysts were expecting earnings of $0.55 per share on revenue of $527 million.
Its gross margin declined to 25.9% from 28%.
H.B. Fuller shares closed at $28.73 yesterday.
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