H.B. Fuller Posts $938 Million in Revenue and Expands Margin in Third Quarter
Key Facts
H.B. Fuller posted revenue of $938 million in the third quarter of fiscal 2026, up 5.2% year over year, while organic revenue rose 4.4%, according to the company’s results. Adjusted EBITDA margin was 19.9%, an increase of 80 basis points from the year-earlier period. Chief Executive Celeste Mastin said pricing actions offset higher raw material costs, while restructuring efforts continued to strengthen operating leverage. A report that seven sites would close could not be verified through a credible open source available for the date of this article, so confirmed details about the sites or the impact of the closures are unavailable. The quarterly results come as the company implements its Quantum Leap program to reorganize its manufacturing and supply network.
Organic revenue growth was driven by pricing, which lifted revenue 7.4% and more than offset the impact of lower volumes, according to the company’s results. Currency translation added 0.7% to revenue, while acquisitions contributed 0.1%. Total revenue growth was 5.2%, reflecting the combined effects of pricing, currencies and acquisitions alongside lower volume. On profitability, adjusted EBITDA margin rose to 19.9%, up 80 basis points year over year. The company attributed the improvement mainly to pricing and restructuring savings, while Mastin said pricing offset higher raw material costs. The results place operating performance in the context of the restructuring program, through which the company aims to improve network efficiency.
H.B. Fuller announced a multiyear plan in January 2025 to reduce its manufacturing sites from 82 to 55 by 2030. The plan also includes cutting its North American warehouses from 55 to approximately 10 by the end of 2027. The company estimated that manufacturing and supply chain consolidation would generate annual savings of approximately $75 million when the plan is completed in fiscal 2030. It also expected to invest approximately $150 million in additional capital over the five years following the announcement. Mastin said consolidating the manufacturing footprint and reorganizing planning and logistics are intended to improve capacity utilization and reduce costs. The company set a strategic target of sustaining EBITDA margin above 20%.
In the third quarter of fiscal 2026, the company’s net debt was $1.957 billion and remained nearly unchanged year over year. Net debt to adjusted EBITDA fell to 3.0 times at quarter-end, from 3.3 times at the end of the third quarter of fiscal 2025. The company raised its fiscal 2026 adjusted EBITDA outlook to a range of $655 million to $670 million. It also forecast adjusted diluted earnings per share of $4.70 to $4.85. Mastin said the company is focused on executing its Quantum Leap program and strengthening its portfolio, while expecting to complete the acquisition of AMS before the end of 2026. In May 2026, the company announced an aerospace manufacturing center of excellence in Charlotte, North Carolina, which it expects to begin operating in early 2027 as part of the program.
H.B. Fuller shares, traded under the symbol FUL, closed at $50.78 on November 10, 2026, according to EL7 data provided. The price comes amid the third-quarter results and the company’s updated fiscal-year outlook, while details of the seven site closures remain unverified in sources available for this article. The Quantum Leap targets announced in 2025 provide the broader timeline for reducing the number of sites and warehouses and delivering savings. Under the plan, the company is scheduled to reach approximately 10 warehouses in North America by the end of 2027. The target for reducing manufacturing sites and the related annual savings extends to completion of the plan in fiscal 2030.