Stock Monitor: PPG Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 26, 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 reported its first quarter fiscal 2018 operating and financial results on March 28, 2018. The adhesives Company exceeded revenue estimates while earnings were in-line with market estimates. Additionally, the Company reiterated its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for PPG Industries, Inc. (NYSE: PPG), which also belongs to the Basic Materials sector as the Company H.B. Fuller. Do not miss out and become a member today for free to access this upcoming report at:
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:
Earnings Highlights and Summary
H.B. Fuller's net revenue for the first quarter of 2018 ended March 03, 2018, surged 41.7% to $713.1 million compared to $503.3 million for Q1 FY17. Higher volume, customer price, mix, foreign currency translation, and acquisitions were all positive contributors to the reported quarter net revenue growth. The Company's reported numbers topped analysts' estimates of $664.0 million.
During Q1 FY18, H.B. Fuller's gross profit margin was 26.3% compared to 27.6% in Q1 FY17. The Company's adjusted gross profit margin was 26.4% for the reported quarter, down versus 28.4% in the prior year's corresponding quarter, reflecting the cumulative impact of raw material inflation during FY17.
For Q1 FY18, H.B. Fuller's selling, general, and administrative (SG&A) expense was $151.0 million compared to $112.9 million in Q1 FY17. The Company's adjusted SG&A expense was $141.0 million for the reported quarter compared to $104.1 million for the prior year's same quarter, due to the inclusion of the acquired businesses during FY17.
During Q1 FY18, H.B. Fuller's adjusted EBITDA surged 42% to $84.0 million compared to $58.9 million in Q1 FY17.
H.B. Fuller's net income was $47.7 million, or $0.92 per diluted share, for Q1 FY18 versus net income of $14.8 million, or $0.29 per diluted share, in Q1 FY17. The Company's adjusted earnings of $0.35 per diluted share compared to $0.48 per diluted share in the year earlier same quarter. H.B. Fuller's earnings matched Wall Street's estimates of $0.35 per share.
Balance Sheet and Cash Flow:
At the end of the first quarter of 2018, H.B. Fuller had cash totaling $132 million and total debt of $2,441 million of which approximately 70% has a fixed interest rate compared to cash and debt levels of $194 million and $2.45 billion, respectively, in Q4 FY17.
In Q1 FY18, H.B. Fuller's cash flow from operations was negative $32 million reflecting the typical seasonality of the Company's businesses and inventory building in advance of higher sales activity in Q2 FY18. The Company's capital expenditures were $19 million in the reported quarter.
H.B. Fuller reaffirmed its fiscal year 2018 forecast for earnings in the range of $3.10 to $3.40 per diluted share, and adjusted EBITDA of approximately $465 million. The Company is expecting revenue growth to be approximately 35% for FY18. H.B. Fuller expects to invest approximately $90 million in capital items in FY18.
Stock Performance Snapshot
April 25, 2018 - At Wednesday's closing bell, H.B. Fuller's stock marginally climbed 0.42%, ending the trading session at $50.81.
Volume traded for the day: 323.06 thousand shares.
Stock performance in the last month – up 4.23%
After yesterday's close, H.B. Fuller's market cap was at $2.56 billion.
Price to Earnings (P/E) ratio was at 47.40.
The stock has a dividend yield of 1.18%.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry. This sector was flat at the end of the session.
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