FULLER H B CO
For the period ended Mar 2, 2024. Filed Mar 28, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 2, 2024 · Filed Mar 28, 2024
FUL$51.34+3.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
H.B. Fuller Company
Quarterly Report on Form 10-Q
Table of Contents
| Page | ||
|---|---|---|
| PART 1. FINANCIAL INFORMATION | ||
| ITEM 1. | FINANCIAL STATEMENTS (Unaudited) | 3 |
| Consolidated Statements of Income for the three months ended March 2, 2024 and March 4, 2023 | 3 | |
| Consolidated Statements of Comprehensive Income for the three months ended March 2, 2024 and March 4, 2023 | 4 | |
| Consolidated Balance Sheets as of March 2, 2024 and December 2, 2023 | 5 | |
| Consolidated Statements of Total Equity for the three months ended March 2, 2024 and March 4, 2023 | 6 | |
| Consolidated Statements of Cash Flows for the three months ended March 2, 2024 and March 4, 2023 | 7 | |
| Notes to Consolidated Financial Statements | 8 | |
| ITEM 2. | MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 22 |
| ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 33 |
| ITEM 4. | CONTROLS AND PROCEDURES | 33 |
| PART II. OTHER INFORMATION | 34 | |
| ITEM 1. | LEGAL PROCEEDINGS | 34 |
| ITEM 1A. | RISK FACTORS | 34 |
| ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS | 35 |
| ITEM 6. | EXHIBITS | 35 |
| SIGNATURES | 36 | |
PART I. FINANCIAL INFORMATION
H.B. FULLER COMPANY AND SUBSIDIARIES
Consolidated Statements of Income
(In thousands, except per share amounts)
| Three Months Ended | ||
|---|---|---|
| March 2, | March 4, | |
| 2024 | 2023 | |
| Net revenue | $810,419 | $809,183 |
| Cost of sales | (571,182) | (594,374) |
| Gross profit | 239,237 | 214,809 |
| Selling, general and administrative expenses | (172,362) | (154,542) |
| Other income, net | 1,501 | 2,604 |
| Interest expense | (31,901) | (33,069) |
| Interest income | 1,307 | 667 |
| Income before income taxes and income from equity method investments | 37,782 | 30,469 |
| Income taxes | (7,814) | (9,733) |
| Income from equity method investments | 1,044 | 1,180 |
| Net income including non-controlling interest | 31,012 | 21,916 |
| Net income attributable to non-controlling interest | (21) | (27) |
| Net income attributable to H.B. Fuller | $30,991 | $21,889 |
| Earnings per share attributable to H.B. Fuller common stockholders: | ||
| Basic | $0.57 | $0.40 |
| Diluted | $0.55 | $0.39 |
| Weighted-average common shares outstanding: | ||
| Basic | 54,702 | 54,174 |
| Diluted | 56,573 | 55,919 |
| Dividends declared per common share | $0.205 | $0.190 |
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