H.B. Fuller revenue up 6.1 percent
H.B. Fuller Company reported net revenue for the first quarter of 2017 was $503.3 million, up 6.1 percent versus the first quarter of 2016.
Higher volume and acquisitions positively impacted growth, offset by negative mix and negative foreign currency translation. Constant currency revenue4 grew by 9.6 percent year over year. Organic revenue, defined as constant currency revenue, less the impact from acquisitions, was up 6 percent.
Net income was $14.8 million, or 29 cents per diluted share, versus net income of $18.9 million, or 37 cents, in last year’s first quarter.
“We drove solid volume improvements with exceptional growth in the Engineering Adhesives and Asia Pacific segments, and 5 percent growth in our Americas segment while successfully completing the synergistic acquisition of Wisdom Adhesives," said said Jim Owens, H.B. Fuller president and chief executive officer. "Profitability remains strong despite raw material increases which we will offset with strategic pricing initiatives in the second quarter. We expect 2017 to provide another strong positive step forward in delivering our 2020 strategic commitments for growth, profit and cash flow performance.”