H.B. Fuller Co. (FUL), a leading manufacturer of adhesives, announced its preliminary full-year earnings on Thursday, which did not meet the forecasts anticipated by analysts.
The company attributed this shortfall to softer-than-expected market conditions and postponements in orders, particularly within the consumer product goods, packaging-related sectors, and durable goods distribution channels.
Celeste Mastin, the CEO, commented, "Toward the end of the fourth quarter, we observed a decline in volume growth across several market segments, marking a downturn compared to the previous quarter. This negatively impacted our operating results and led to a disappointing deficit compared to our projections."
H.B. Fuller now anticipates adjusted earnings per share to be approximately $3.84, revised down from the earlier forecast range of $4.10 to $4.20 per share. The annual revenue is expected to reach around $3.57 billion.
Analysts surveyed by Thomson Reuters had predicted the company would report earnings of $4.16 per share on revenue totaling $3.57 billion for the year. Notably, analysts' expectations typically exclude special items.
In pre-market trading on the New York Stock Exchange, the company's shares fell by 3.68 percent, reaching $65.
