H.B. Fuller Co. (NYSE: FUL) published its earnings report for the fiscal fourth quarter on Monday that came in better than expected, despite the ongoing Coronavirus pandemic that has so far infected more than 25 million people in the United States and caused over 430 thousand deaths.
The company attributed its hawkish performance to robust demand for adhesives that are widely used for flexible packaging, and in recreational vehicles, woodworking, and electronics. In separate news from the United States, manufacturer Kimberly-Clark also reported its financial results for the fiscal fourth quarter on Monday.
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H.B. Fuller gained close to 2.5% in extended trading on Monday. Including the price action, the stock is now exchanging hands at £38 per share. In comparison, it had tumbled to as low as £18.49 per share in the last week of March 2020 when the COVID-19 crisis wreaked havoc on the global capital markets.
H.B. Fuller’s Q4 financial results versus analysts’ estimates
The Saint Paul-based company that manufactures adhesives, sealants, and a range of speciality chemical products said that its net income in the fourth quarter came in at £29.69 million that translates to 56.31 pence per share. In the same quarter last year, its net income was capped at a lower £23.55 million or 44.61 pence per share.
On an adjusted basis, the American adhesives manufacturing company earned 78 pence per share in the recent quarter. In terms of net revenue, H.B. Fuller reported £568.62 million in Q4 versus the year-ago figure of £540.47 million.
According to FactSet, experts had forecast the company to record a lower £537.91 million of net revenue in the fourth quarter. Their estimate for per-share earnings stood at 62.89 pence per share. In an announcement last week, H.B. Fuller declared 12 pence per share of quarterly cash dividend.
H.B. Fuller reports £2.04 billion of full-year revenue
For the full financial year, the NYSE-listed company posted £2.04 billion of revenue and £90.46 million of profit that translates to £1.73 per share. Earlier in January, H.B. Fuller unveiled cold-resistant adhesives for COVID-19 vaccine delivery.
H.B. Filler performed only slightly upbeat in the stock market last year with an annual gain of a little under 3%. At the time of writing, the manufacturer of sealants, adhesives, and speciality chemical products has a market cap of £1.92 billion and a price to earnings ratio of 23.05.
