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.
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.
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