H.B. Fuller Co. recently reported financial results for the third quarter that ended August 27, 2016. Net revenue for the third quarter of 2016 was $512.9 million, down 2.2% vs. the third quarter of 2015. Higher volume/mix positively impacted net revenue growth by 0.9 percentage points. Lower average selling prices and negative foreign currency translation negatively impacted net revenue growth by 2.1 and 1 percentage points, respectively.
Net income for the third quarter of 2016 was $32.7 million, a 5% increase vs. net income of $26.8 million in last year’s third quarter. Gross profit margin was 28.5%, an improvement of 50 basis points vs. the prior year’s third quarter, reportedly reflecting effective management of pricing and raw material costs. Cash flow from operating activities of $63 million, driven by solid net income performance; on track to deliver over $200 million in cash flow from operations for the 2016 fiscal year.
Top 5 News that Sticks for October 2-8
1. H.B. Fuller Third-Quarter 2016 Revenue Drops 2%
2. Industrial Adhesives Market to Reach $53 Billion by 2021
3. Kraton Performance Polymers Becomes Kraton Corp.
