Stock Monitor: PolyOne Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 29, 2018 / Active-Investors.com has just released a free earnings report on H.B. Fuller Co. (NYSE: FUL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=FUL. H.B. Fuller posted its fourth quarter fiscal 2017 (Q4 FY17) financial results on January 24, 2018. The leading specialty chemicals products manufacturers' revenues surpassed market expectations. In October 2017, the Company completed the acquisition of Royal Adhesives & Sealants for $1.58 billion. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, H.B. Fuller most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During the fourth quarter of the fiscal year 2017, H.B. Fuller posted net sales of $678.20 million compared to $574.91 million in Q4 FY16, reflecting growth of 17.97%. The increase in sales was attributed to the higher volume, pricing, and acquisitions. The Company's organic revenue increased 8.00% which was also attributed to sales growth. The Company's revenue numbers beat analysts' estimates of $613.60 million. For full fiscal year 2017, the Company's revenue was $2.31 billion, advancing 10.09% compared to $2.09 billion in the previous fiscal year.
The Company's gross profit was $167.74 million in Q4 FY17 compared to $167.82 million in Q4 FY16, decreasing 0.05%. H.B. Fuller's selling, general, and administrative expenses (SG&A) amounted to $151.13 million in the reported quarter compared to $106.50 million in the year ago same period, increasing 41.91% on a y-o-y basis. H.B. Fuller's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $90.88 million in the reported quarter versus $79.75 million in the year ago comparable period, increasing 13.95% on a y-o-y basis. The Company's segment's operating income was $16.61 million in Q4 FY17 compared to $61.33 million in Q4 FY16. For full fiscal year 2017, the segment's operating income was $126.14 million compared to $202.17 million in the previous year.
H.B. Fuller's net loss was $7.56 million in the reported quarter compared to net income of $39.13 million in Q4 FY16. The Company's loss per share was $0.15 in Q4 FY17 compared to earnings per share (EPS) of $0.76 in the fourth quarter of the previous fiscal year. Adjusted earnings were $0.75 in the reported quarter compared to $0.74 in Q4 FY16, reflecting a growth of 1.35% on a y-o-y basis. Adjusting for the extra week in 2016, adjusted EPS were up 9.00% as strong volume growth was offset by higher year-over-year raw material costs. The adjusted earnings numbers missed analysts' estimates of $0.84. For full fiscal year 2017, the Company's net income was $58.24 million compared to $124.13 million in 2016. And adjusted EPS was $2.50 in 2017 compared to $2.48 in 2016, increasing 0.81% on a y-o-y basis.
Segment Details
H.B. Fuller has six segments, namely: (i) Americas Adhesives, (ii) Europe, India, Middle-East, and Africa (EIMEA), (iii) Asia/Pacific, (iv) Construction Products, (v) Engineering Adhesive, and (vi) Royal Adhesives.
The Americas Adhesives segment reported net sales of $234.89 million in Q4 FY17 compared to $217.64 million in Q4 FY16, reflecting growth of 7.93% compared to the year ago corresponding period. The segment's adjusted EBITDA was $35.82 million in Q4 FY17 compared to $37.34 million in Q4 FY16, decreasing 4.07% on a y-o-y basis.
The EIMEA segment posted net sales of $151.77 million in Q4 FY17 compared to $150.33 million in Q4 FY16, increasing 0.96% on a y-o-y basis. The segment's adjusted EBITDA was $17.52 million in Q4 FY17 compared to $21.04 million in Q4 FY16, decreasing 16.71% on a y-o-y basis.
The Asia/Pacific segment's net sales advanced 5.32% to $74.11 million on a y-o-y basis in the reported quarter compared to $70.36 million in Q4 FY16. The segment's adjusted EBITDA was $8.59 million in Q4 FY17 compared to $8.18 million in Q4 FY16, increasing 5.00% on a y-o-y basis.
The Construction Products segment reported net sales of $58.63 million in Q4 FY17 compared to $64.24 million in Q4 FY16, reflecting a decrease of 8.7% compared to the year ago same period. The segment's adjusted EBITDA was $5.94 million in Q4 FY17 compared to $2.97 million in Q4 FY16, surging 100.13% on a y-o-y basis.
The Engineering Adhesives segment posted net sales of $81.77 million in Q4 FY17 compared to $72.34 million in Q4 FY16, increasing 13.03% on a y-o-y basis. The segment's adjusted EBITDA was $10.85 million in Q4 FY17 compared to $10.24 million in Q4 FY16, increasing 5.99% on a y-o-y basis.
The Royal Adhesives segment's net sales were $77.03 million in the reported quarter and adjusted EBITDA was $12.17 million.
Cash Matters
As on December 02, 2017, H.B. Fuller had cash and cash equivalents of $194.40 million compared to $142.25 million as on December 03, 2016. The Company's cash inflow from operating activities was $120.32 million in the reported quarter. For full fiscal year 2017, the cash inflow was $196.55 million.
On January 18, 2018, the Company declared a quarterly cash dividend of $0.15 per share on the Company's common stock, payable on February 15, 2018, to shareholders of record as on February 01, 2018.
Outlook
For the fiscal year 2018, H.B. Fuller is anticipating sales growth to be in the range of 6.00% to 7.00%. The adjusted EPS of the Company is expected to be in the band of $3.10 to $3.40. Adjusted EBITDA is expected to be approximately $465.00 million.
Stock Performance Snapshot
January 26, 2018 - At Friday's closing bell, H.B. Fuller's stock advanced 1.79%, ending the trading session at $54.53.
Volume traded for the day: 696.47 thousand shares, which was above the 3-month average volume of 388.54 thousand shares.
Stock performance in the last month - up 2.06%; previous six-month period - up 5.82%; past twelve-month period - up 8.84%; and year-to-date - up 1.23%
After last Friday's close, H.B. Fuller's market cap was at $2.75 billion.
Price to Earnings (P/E) ratio was at 26.77.
The stock has a dividend yield of 1.10%.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry. This sector was up 0.6% at the end of the session.
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