H.B. Fuller, the adhesives maker based in St. Paul, Minn., has revised its guidance for full-year revenue and adjusted earnings following ongoing customer destocking in the fiscal third quarter.
Adjusted Earnings Expectations
The company now expects adjusted earnings to be in the range of $3.80 to $3.90 per share. This is a slight adjustment from the previous guidance of $3.80 to $4.20 per share.
Revenue Projections
H.B. Fuller anticipates its revenue for the full year to be between $3.5 billion and $3.55 billion. However, organic revenue is expected to drop by 4.5% to 5.5% compared to the previous year. The company had initially projected a decline of 3% to 5%.
Increased Pre-Tax Savings
The strategic restructuring actions taken by H.B. Fuller are now anticipated to generate annual pre-tax run-rate savings of $40 million to $45 million. This is an increase from the previous estimate of $30 million to $35 million.
Factors Behind Revised Guidance
The revisions to revenue guidance can be attributed to the continued destocking and slower-than-expected demand conditions experienced by the company.
The Evolution of Search Engines: Pre-Google Times
Related Articles
AMD Discusses Artificial Intelligence Roadmap
AMD delves into its AI roadmap, while analysts express optimism and caution. Lack of concrete information and industry validation remain concerns.
Unity Software Reports Strong Revenue Growth
Unity Software reported a narrower loss, exceeding revenue expectations and benefiting from a terminated agreement with Weta FX. The company plans to refocus it...
The Formation of a "Baby Bubble" in the U.S. Stock Market
BofA Global Research identifies a "baby bubble" in the U.S. stock market driven by tech giants and artificial intelligence (AI), with implications for interest...