FULLER H B CO

For the period ended Aug 31, 2024. Filed Sep 26, 2024.

About this filing

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.

Aug 31, 2024 · Filed Sep 26, 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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Contents

H.B. Fuller Company

Quarterly Report on Form 10-Q

Table of Contents

Page
PART 1. FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS (Unaudited)	4
	Consolidated Statements of Income for the three and nine months ended August 31, 2024 and September 2, 2023	4
	Consolidated Statements of Comprehensive Income for the three and nine months ended August 31, 2024 and September 2, 2023	5
	Consolidated Balance Sheets as of August 31, 2024 and December 2, 2023	6
	Consolidated Statements of Total Equity for the three months and nine months ended August 31, 2024 and September 2, 2023	7
	Consolidated Statements of Cash Flows for the nine months ended August 31, 2024 and September 2, 2023	8
	Notes to Consolidated Financial Statements	9
ITEM 2.	MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	27
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	41
ITEM 4.	CONTROLS AND PROCEDURES	41
PART II. OTHER INFORMATION	42
ITEM 1.	LEGAL PROCEEDINGS	42
ITEM 1A.	RISK FACTORS	42
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	43
ITEM 6.	EXHIBITS	43
SIGNATURES	44

PART I. FINANCIAL INFORMATION

H.B. FULLER COMPANY AND SUBSIDIARIES

Consolidated Statements of Income

(In thousands, except per share amounts)

	Three Months Ended		Nine Months Ended
	August 31,	September 2,	August 31,	September 2,
	2024	2023	2024	2023
Net revenue	$917,927	$900,634	$2,645,452	$2,608,055
Cost of sales	(642,198)	(637,162)	(1,848,435)	(1,873,000)
Gross profit	275,729	263,472	797,017	735,055
Selling, general and administrative expenses	(171,388)	(172,153)	(525,204)	(493,320)
Other income, net	2,148	1,555	7,282	4,764
Interest expense	(35,288)	(35,105)	(99,504)	(101,305)
Interest income	1,092	1,128	3,597	2,726
Income before income taxes and income from equity method investments	72,293	58,897	183,188	147,920
Income taxes	(18,264)	(22,231)	(48,496)	(51,255)
Income from equity method investments	1,310	984	2,955	3,322
Net income including non-controlling interest	55,339	37,650	137,647	99,987
Net loss (income) attributable to non-controlling interest	22	(23)	(32)	(71)
Net income attributable to H.B. Fuller	$55,361	$37,627	$137,615	$99,916
Earnings per share attributable to H.B. Fuller common stockholders:
Basic	$1.01	$0.69	$2.51	$1.84
Diluted	$0.98	$0.67	$2.43	$1.79
Weighted-average common shares outstanding:
Basic	54,975	54,394	54,874	54,279
Diluted	56,650	56,033	56,620	55,890
Dividends declared per common share	$0.223	$0.205	$0.651	$0.600

H.B. FULLER COMPANY AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income

	Three Months Ended		Nine Months Ended
	August 31,	September 2,	August 31,	September 2,
	2024	2023	2024	2023
Net income including non-controlling interest	$55,339	$37,650	$137,647	$99,987
Other comprehensive income (loss)
Foreign currency translation	33,355	(8,717)	(12,932)	14,058
Defined benefit pension plans adjustment, net of tax	1,270	863	3,808	2,572
Interest rate swaps, net of tax	(25,744)	15,898	(18,013)	14,745
Net investment hedges, net of tax	(8,231)	(4,641)	(4,318)	(10,324)
Other comprehensive income (loss)	650	3,403	(31,455)	21,051
Comprehensive income	55,989	41,053	106,192	121,038
Less: Comprehensive income attributable to non-controlling interest	9	16	22	59
Comprehensive income attributable to H.B. Fuller	$55,980	$41,037	$106,170	$120,979

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.