H.B. Fuller earnings rise on lower sales
H.B. Fuller Company reported net income for the third quarter of $32.7 million, or 64 cents per diluted share, versus net income of $26.8 million, or 52 cents, in last year’s third quarter.
Net revenue for the quarter was $512.9 million, down 2.2 percent versus the third quarter of 2015. Higher volume/mix positively impacted net revenue growth by 0.9 percentage points. Lower average selling prices and negative foreign currency translation negatively impacted net revenue growth.
“Volume growth remained robust in both the Asia Pacific and Engineering Adhesives segments and we delivered the volume improvements we committed to in the Americas Adhesive segment, reflecting continued sequential improvements," said Jim Owens, H.B. Fuller president and chief executive officer.