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
![Plug Power's Financial Update](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Plug Power's Financial Update
Plug Power faces financial struggles despite resolving concerns about viability, stock tumbles on missed expectations for 2023.
![CFRA Analyst Downgrades General Motors Stock](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
CFRA Analyst Downgrades General Motors Stock
CFRA analyst Garrett Nelson downgrades General Motors stock to 'strong sell' due to increased risk of a UAW strike and challenges in the EV market.
![Canadian Stocks Soar Mid-Trading](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Canadian Stocks Soar Mid-Trading
Canadian stocks are experiencing a strong upward trend during mid-trading on Tuesday, with notable increases in tech services and process industries.