H.B. Fuller Q4 Results Miss Street

(RTTNews) - H.B. Fuller Company (FUL) Wednesday reported a profit for the fourth quarter, that fell short of Wall Street estimates, as did revenues.

Net income for the fourth quarter dropped to $32.2 million or $0.61 per share from $41.3 million or $0.79 per share last year.

Adjusted net income was $46 million or $0.88 per share, compared with $47 million or $0.90 per share last year. On average, analysts polled by Thomson Reuters expected earnings of $0.92 per share for the quarter.

Revenues for the quarter were $739.1 million, down from $768.4 million last year. Analysts had a consensus revenue estimate of $744.08 million for the quarter.

"In the fourth quarter, we continued to gain share in strategic businesses including Engineering Adhesives and Hygiene, and our organic revenue trends improved sequentially compared with the third quarter," said CEO Jim Owens.

Looking forward to the full year 2020, the company anticipates adjusted earnings of $3.15 to $3.35 per share. Analysts currently estimates earnings of $3.50 per share.