最新ニュース H.B. Fuller (NYSE:FUL) 株価情報

H.B. Fuller

H.B. Fuller Co manufactures and sells adhesives, sealants, and other chemical-based products. The company organizes itself into three segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. It generates the maximum revenue from hygiene, health and consumable adhesives. This segment produces and supplies a full range of specialty industrial adhesives such as thermoplastic, thermoset, reactive, water-based and solvent-based products for applications in various markets, including packaging , converting, nonwoven and hygiene (disposable diapers, feminine care and medical garments) and health and beauty. The company generates around half of its revenue in the United States.

H.B. Fuller Co

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Seaport Global analyst Michael Harrison downgraded H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) from Buy to Neutral. H.B. Fuller shares closed at $54.94 on Tuesday. <a href="https://www.benzinga.com/quote/FUL/analyst-ratings">See how other analysts view this stock</a>.</li>
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This H.B. Fuller Company Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday

H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) underwent analysis by 4 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $69.5, a high estimate of $78.00, and a low estimate of $60.00. A 9.74% drop is evident in the current average compared to the previous average price target of $77.00. 
<img src="https://www.benzinga.com/files/images/story/2025/1741183255_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive H.B. Fuller is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Begleiter</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Buy</td>
<td>$72.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Jeffrey Zekauskas</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$60.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Patrick Cunningham</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$68.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Patrick Cunningham</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$78.00</td>
<td>$85.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to H.B. Fuller. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of H.B. Fuller compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of H.B. Fuller's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into H.B. Fuller's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FUL/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on H.B. Fuller analyst ratings.</a>
<h2>Get to Know H.B. Fuller Better</h2>
H.B. Fuller Co manufactures and sells adhesives, sealants, and other chemical-based products. The company organizes itself into three segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. It generates the maximum revenue from hygiene, health and consumable adhesives. This segment produces and supplies a full range of specialty industrial adhesives such as thermoplastic, thermoset, reactive, water-based and solvent-based products for applications in various markets, including packaging , converting, nonwoven and hygiene (disposable diapers, feminine care and medical garments) and health and beauty. The company generates around half of its revenue in the United States.
<h3>Unraveling the Financial Story of H.B. Fuller</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: H.B. Fuller displayed positive results in 3 months. As of 30 November, 2024, the company achieved a solid revenue growth rate of approximately 2.26%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Materials sector.
Net Margin: H.B. Fuller's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -0.8%, the company may face hurdles in effective cost management.
Return on Equity (ROE): H.B. Fuller's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -0.4%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): H.B. Fuller's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -0.15%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: H.B. Fuller's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.13, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into H.B. Fuller Stock: Analyst Perspectives (4 Ratings)

Seaport Global analyst Michael Harrison downgrades H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) from Buy to Neutral.

Downgrades

Seaport Global Downgrades H.B. Fuller to Neutral

Ratings for H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $69.5, with a high estimate of $78.00 and a low estimate of $60.00. Experiencing a 9.74% decline, the current average is now lower than the previous average price target of $77.00. 
<img src="https://www.benzinga.com/files/images/story/2025/1737554468_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of H.B. Fuller by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Begleiter</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Buy</td>
<td>$72.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Jeffrey Zekauskas</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$60.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Patrick Cunningham</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$68.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Patrick Cunningham</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$78.00</td>
<td>$85.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to H.B. Fuller. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of H.B. Fuller compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of H.B. Fuller's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into H.B. Fuller's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/FUL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on H.B. Fuller analyst ratings.</a>
<h2>Delving into H.B. Fuller's Background</h2>
H.B. Fuller Co manufactures and sells adhesives, sealants, and other chemical-based products. The company organizes itself into three segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. It generates the maximum revenue from hygiene, health and consumable adhesives. This segment produces and supplies a full range of specialty industrial adhesives such as thermoplastic, thermoset, reactive, water-based and solvent-based products for applications in various markets, including packaging , converting, nonwoven and hygiene (disposable diapers, feminine care and medical garments) and health and beauty. The company generates around half of its revenue in the United States.
<h3>Key Indicators: H.B. Fuller's Financial Health</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, H.B. Fuller showcased positive performance, achieving a revenue growth rate of 1.92% as of 31 August, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Materials sector.
Net Margin: H.B. Fuller's net margin is impressive, surpassing industry averages. With a net margin of 6.03%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): H.B. Fuller's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.05% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): H.B. Fuller's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.12%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a high debt-to-equity ratio of 1.1, H.B. Fuller faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: H.B. Fuller In The Eyes Of 4 Experts

Deutsche Bank analyst David Begleiter maintains H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) with a Buy and lowers the price target from $75 to $72.

Price Target

Deutsche Bank Maintains Buy on H.B. Fuller, Lowers Price Target to $72

JP Morgan analyst Jeffrey Zekauskas maintains H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) with a Underweight and lowers the price target from $70 to $60.

JP Morgan Maintains Underweight on H.B. Fuller, Lowers Price Target to $60

Fiscal 2025 Outlook:
<ul>
<li>Net revenue growth for fiscal 2025 is expected to be down 2% to 4%, adjusting for the divestiture of the Flooring business, net revenue is expected to be up 1% to 2%;</li>
<li>Organic revenue growth is expected to be flat to up 2% versus fiscal 2024;</li>
<li>Adjusted EBITDA for fiscal 2025 is expected to be in the range of $600 million to $625 million, equating to growth of approximately 1% to 5% year-on-year;</li>
<li>Adjusted EBITDA for the first quarter of 2025 is expected to be in the range of $105 million to $115 million;</li>
<li>The core tax rate, excluding the impact of discrete items, is anticipated to be between 26% and 27% in fiscal year 2025;</li>
<li>Net interest expense for fiscal 2025 is expected to be between $120 million and $125 million;</li>
<li>Adjusted EPS (diluted) is expected to be in the range of $3.90 to $4.20, equating to a range of up 2% to 9% year-on-year;</li>
<li>Operating cash flow in fiscal year 2025 is expected to be between $300 million and $325 million;</li>
<li>Capital expenditures of approximately $160 million are expected in fiscal 2025, which includes approximately $40 million related to the Company's manufacturing footprint consolidation initiative.</li>
</ul>

Guidance

H.B. Fuller Fiscal 2025 Outlook, Sees Net Revenue Down 2%-4%; Organic Growth Flat To Up 2%; Adjusted EBITDA $600M-$625M, Q1 $105M-$115M; Adj. EPS $3.90-$4.20 Vs $4.22 Est.; Cash Flow $300M-$325M

The Q4 earnings report for H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) was released on Wednesday, January 15, 2025 at 04:05 PM.
Here's what investors need to know about the latest announcement.
<h3>Earnings</h3>
H.B. Fuller missed estimated earnings by -8.0%, reporting an EPS of $0.92 versus an estimate of $1.0.
Revenue was up $20.41 million from the same period last year.
<h3>Analysis of Past Earnings</h3>
The company missed on EPS by $0.1 in the last quarter, resulting in a 0.0% increase share price change the following day.
Here's a look at H.B. Fuller's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.23</td>
<td>1.03</td>
<td>0.64</td>
<td>1.27</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.13</td>
<td>1.12</td>
<td>0.67</td>
<td>1.32</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>944.25M</td>
<td>913.23M</td>
<td>825.03M</td>
<td>932.16M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>917.93M</td>
<td>917.11M</td>
<td>810.42M</td>
<td>902.88M</td>
</tr>
</tbody>
</table>

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Guidance</h3>
H.B. Fuller management provided guidance for FY 2024, expecting earnings between $3.84 and $3.84 per share.
To track all earnings releases for H.B. Fuller <a href="https://www.benzinga.com/quote/FUL/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

H.B. Fuller Earnings Report: Q4 Overview

H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) reported quarterly earnings of $0.92 per share which missed the analyst consensus estimate of $1.00 by 8 percent. This is a 30.3 percent decrease over earnings of $1.32 per share from the same period last year. The company reported quarterly sales of $923.28 million which beat the analyst consensus estimate of $916.77 million by 0.71 percent. This is a 2.26 percent increase over sales of $902.88 million the same period last year.

Earnings Beats

Earnings Misses

H.B. Fuller Q4 Adj EPS $0.92 Misses $1.00 Estimate, Sales $923.28M Beat $916.77M Estimate

<h3>Companies Reporting Before The Bell</h3>
• BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) is likely to report quarterly earnings at $11.21 per share on revenue of $5.53 billion. 
• Valens Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLN#NYSE">VLN</a>) is likely to report earnings for its third quarter. 
• JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is likely to report quarterly earnings at $4.04 per share on revenue of $41.56 billion. 
• Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is estimated to report quarterly earnings at $8.27 per share on revenue of $12.33 billion. 
• Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) is expected to report quarterly earnings at $1.24 per share on revenue of $19.41 billion. 
• Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) is projected to report quarterly earnings at $1.54 per share on revenue of $4.63 billion. 
• Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is projected to report quarterly earnings at $1.26 per share on revenue of $20.28 billion. 
<h3>Companies Reporting After The Bell</h3>
• Home BancShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOMB#NYSE">HOMB</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $256.67 million. 
• Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) is likely to report quarterly earnings at $1.15 per share on revenue of $566.76 million. 
• H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) is projected to report quarterly earnings at $0.92 per share on revenue of $904.32 million. 
• Concentrix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) is likely to report quarterly earnings at $3.07 per share on revenue of $2.44 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CNXC

HOMB

Earnings Scheduled For January 15, 2025

Citigroup analyst Patrick Cunningham maintains H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) with a Neutral and lowers the price target from $78 to $68.

Citigroup Maintains Neutral on H.B. Fuller, Lowers Price Target to $68

WIIM

H. B. Fuller shares are trading lower after the company issued preliminary FY24 guidance below estimates.

On Thursday, H. B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) disclosed its unaudited preliminary financial results for fiscal year 2024, highlighting weaker-than-expected <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b42763305/h-b-fuller-announces-preliminary-fiscal-year-2024-results" rel="noreferrer noopener">conditions in the fourth quarter.</a>
The company now projects fiscal year 2024 net revenue to reach approximately $3.57 billion versus $3.576 billion estimate (prior view: ~$3.581 billion), with adjusted earnings per share of $3.84 versus the analyst consensus estimate of $4.16 (<a target="_blank" href="https://www.benzinga.com//node/41034261" rel="noreferrer noopener">prior view: $4.10 to $4.20</a>).
The company currently expects Adjusted EBITDA of approximately $594 million, representing a revision from previous guidance, which had forecasted adjusted EBITDA in the range of $610 million to $620 million.
The fourth-quarter performance was negatively impacted by delayed customer orders and weaker-than-expected demand in key sectors, including consumer product goods, packaging, and durable goods distribution.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" rel="noreferrer noopener">Tesla Stock Tumbles On Q4 Deliveries: What&#8217;s Going On?</a>
Additionally, the shift in price increase realization into fiscal 2025 and rising raw material costs, particularly in Hygiene, Health, and Consumable Adhesives, contributed to the decline in adjusted EBITDA.
Celeste Mastin, President and CEO, acknowledged the market slowdown and emphasized the company's response, including new pricing actions, cost controls, and ongoing restructuring initiatives to streamline manufacturing and reduce operating costs.
H. B. Fuller also expects operating cash flow to be approximately $300 million for fiscal 2024, down from the prior outlook of $325 million&nbsp;&#8211; $350 million.
The company will release its full financial results on January 15, 2025, followed by an investor conference call on <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">January 16, 2025, to discuss the results.</a>
Price Action: FUL shares are trading lower by 6.14% to $63.34 at last check Thursday.
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H.B. Fuller Adjusts FY24 Outlook: Delayed Orders And Rising Costs Weigh On Results

H.B. Fuller Sees Prelim FY24 Adj. EPS ~$3.84 Vs $4.16 Est.; Revenue ~$3.57B Vs $3.576B Est.

Citigroup analyst Patrick Cunningham maintains H.B. Fuller (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) with a Neutral and lowers the price target from $85 to $78.

Citigroup Maintains Neutral on H.B. Fuller, Lowers Price Target to $78

Acquisitions expand company's existing leadership in Medical Adhesive Technologies market segment
H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>), the largest pureplay adhesives company in the world, today announced that it has signed agreements to acquire two leading medical adhesive technology companies: GEM S.r.l. and Medifill Ltd.
Medifill Ltd. is an Irish formulator and producer of medical-grade cyanoacrylate adhesives with a state-of-the-art clean room and manufacturing capabilities. Medifill produces advanced technology that is specifically tailored for the wound closure market. The next-generation formulations enable fast, safe, and effective wound closure.

H.B. Fuller Has Signed Agreements To Acquire Two Medical Adhesive Technology Companies: GEM S.r.l. and Medifill Ltd; When Combined, Expected To Generate 2024 Net Revenue And Adjusted EBITDA Of €23 Million And €11.5 Million, Respectively; No Financial Terms Of Transaction Disclosed

Company Realigns Building and Construction Market Segments into Newly Named Global Business Unit
H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>), the largest pureplay adhesives company in the world, announced today that it will reorganize the building and construction segments of its portfolio to create a faster growing solutions business with a complementary customer base across the architectural and infrastructure markets. The reorganization includes the sale of the Flooring business as well as combining the company's Insulated Glass, Woodworking, and Composite segments, currently part of Engineering Adhesives, with its Roofing and Building Envelope and Infrastructure (BE&amp;I) segments to form a newly named Global Business Unit (GBU): Building Adhesive Solutions (BAS), effective with the start of H.B. Fuller's 2025 fiscal year.
BAS, as combined, generated approximately $850 million in net revenue and approximately $130 million in adjusted EBITDA in fiscal year 2024. BAS features a larger scale GBU designed to capture growth in the burgeoning global infrastructure market, including energy, utilities and data management applications, and capitalize on H.B. Fuller's existing position in the global architectural market. BAS replaces H.B. Fuller's existing Construction Adhesives GBU and will be led by Shahbaz (Boz) Malik, Senior Vice President, BAS.
H.B. Fuller also announced today that it has sold its Flooring business to Pacific Avenue Capital Partners, a leading private equity firm based in Los Angeles, Calif.
"This move is consistent with our strategy to drive our portfolio and capital allocation to the highest margin, fastest growing segments of the $80 billion global adhesives industry," says H.B. Fuller President and CEO Celeste Mastin. "With Pacific Avenue Capital Partners, we have found the right home for our talented Flooring team and brand-recognized products."
Proceeds from the sale are expected to be $80 million, and the divestiture will result in a reduction in annual revenue of approximately $160 million and adjusted EBITDA of approximately $15 million going forward. The acquisition closed on Dec. 2, 2024, the second day of H.B. Fuller's 2025 fiscal year. H.B. Fuller was advised in the sale by Harris Williams, a global investment bank specializing in M&amp;A and private capital advisory services.

Contracts

H.B. Fuller Announces Divestiture Of Flooring Business; Proceeds From The Sale Are Expected To Be $80M, And The Divestiture Will Result In A Reduction In Annual Revenue Of ~$160M And Adjusted EBITDA Of ~$15M Going Forward

JPMorgan has unveiled his latest picks for short positions, flagging three stocks — IMAX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>), ZIM Integrated Shipping Services Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>), and H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>)— as <a href="https://www.benzinga.com/trading-ideas/short-ideas">potential downside plays</a>. 
Each faces unique headwinds, with challenging market dynamics and heightened financial strain.
Here&#8217;s why these stocks are under the microscope for short-sellers.
<h2 class="wp-block-heading">IMAX: The Big Screen, But Smaller Numbers?</h2>
While IMAX has been a leader in high-end cinematic experiences, analyst David Karnovsky is cautious. 
Despite the distinct appeal of IMAX theaters, its global Digital Media Remastering (DMR) business is having a rough year. Karnovsky sees more pain ahead, projecting a 13.4% downside due to a weak 2024 box office outlook and an unclear path for 2025 growth. 
With blockbusters not consistently delivering and a heavy reliance on DMR performance, IMAX's valuation could be ripe for a correction. Trading at 10x its estimated 2024 EBITDA, the stock appears to lack a clear path to blockbuster gains.
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<h2 class="wp-block-heading">H.B. Fuller: Sticking With The Wrong Glue?</h2>
H.B. Fuller, a stalwart in adhesives and specialty chemicals, is also facing challenges, according to analyst Jeffrey Zekauskas. 
The company's margins are under pressure amid rising input costs, and its limited cash generation capacity after acquisitions is compounding issues. Fuller trades at 9.6x its 2025 EBITDA estimate, and with a potential price drop of around 6%, the stock doesn't seem to have much room to maneuver. 
Zekauskas sees weak cash flows and pricing pressures as hurdles that may stick with the company well into the future, making it a less-than-attractive hold.
<h2 class="wp-block-heading">ZIM Integrated Shipping: Treading Water With A Heavy Load</h2>
ZIM Integrated Shipping is perhaps the most vulnerable of the trio. With 85% of its volume exposed to spot markets and a significant chunk of its vessels on charters, ZIM is at the mercy of fluctuating container rates. 
Analyst Alexia Dogani sees a whopping 58% downside by 2025 as the company grapples with shrinking EBITDA, rising debt, and heavy capital investments. At 6.1x its 2025 EBITDA and 1.1x book value, the math isn't adding up in ZIM's favor, making it a risky bet for long-term investors.
JPMorgan&#8217;s bearish outlook for IMAX, H.B. Fuller, and ZIM highlights the hurdles these companies face in their respective sectors. From blockbuster inconsistencies to sticky pricing and a sinking shipping market, these companies are navigating challenging waters.
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Image created using artificial intelligence via Midjourney.

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JPMorgan Flags IMAX, H.B. Fuller, ZIM As Top Short Picks With Challenges

Management

H.B. Fuller Appoints Terry Rasmussen Chair Of Board Of Directors, Effective January 22, 2025

H. B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) shares are trading lower after the company reported worse-than-expected&nbsp;third-quarter <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41034261/h-b-fuller-reports-third-quarter-2024-results" rel="noreferrer noopener">results and revised its FY24 guidance downwards.</a>
Net revenue of $917.93 million missed the consensus of $944.3 million. Organic revenue experienced modest growth, with pricing adjustments causing a 2.6% decline and volume contributing a 3.0% increase.
Adjusted gross profit was $279 million, with an adjusted gross profit margin of 30.4%, representing a 40 basis point increase from the previous year.&nbsp;
Gross profit was driven by volume leverage, restructuring savings, and benefits from acquisitions.
Adjusted EBITDA rose 6% Y/Y to $165 million, fueled by volume growth, restructuring savings, and advantages from recent acquisitions, with adjusted EBITDA margin expanded by 70 basis points Y/Y to 18.0%.
Adjusted EPS of $1.13 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the consensus of $1.23</a>.
At the end of the third quarter of fiscal 2024, net debt stood at $1.890 billion. The company repurchased 225,000 shares during the quarter.
FY24 Outlook: H.B. Fuller reduced its adjusted EPS forecast to $4.10 &#8211; $4.20 (prior view $4.20&nbsp;to&nbsp;$4.45), <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the consensus of $4.37</a>.
Also, the company projects net revenue growth of around 2% (prior view: up&nbsp;2%&nbsp;to&nbsp;4%), with organic revenue remaining flat (prior flat to up&nbsp;2%) year-on-year for the year.
H.B. Fuller President and CEO Celeste Mastin said, &#8220;Our volume growth during the quarter was impacted by slowing market demand in certain durable goods markets in EA, and we are adjusting our full year outlook accordingly.&#8221;
&#8221;While this quarter&#8217;s volume growth was at the low end of our expectations, we have a clear and focused strategy and a highly engaged team that is well equipped to execute and drive business success. We remain on track to deliver upon our long-term EBITDA margin and organic growth targets.&#8221;
Price Action: FUL shares are down 6.98% at $75.00 premarket at the last check Thursday.
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