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June 26, 2014
12:26 EDTFUL, SHW, VAL, RPMH.B. Fuller falls after cutting full year profit outlook
Shares of H.B. Fuller (FUL), which manufactures adhesives, sealants and other specialty chemical products, are falling after the company cut its fiscal 2014 earnings per share outlook. WHAT'S NEW: Last night, H.B. Fuller reported second quarter adjusted EPS of 78c and revenue of $544M, compared to analysts' consensus estimates of 78c and $545.18M, respectively. WHAT'S NOTABLE: The company cut its FY14 EPS view to $2.80-$2.95 from $3.00-$3.15, versus consensus of $3.07. It said the downward revision reflects the expected delay in realizing margin improvement following the completion of the business integration project in Europe. The company is also adjusting its guidance for core income tax rate, which excludes discrete items, to 29% for the full year, down from its previous guidance of 30%. On its earnings conference call, H.B. Fuller said FY14 revenue growth was expected to be at the low end of its long-term range, compared to consensus of $2.14B. It also said margin expansion will be delayed this year. Management said Q2 ended with "good momentum" that should carry the company through the rest of the year. They now expect to exit the year slightly behind their 14% EBITDA margin target, and anticipate that all project one related impacts that the company experienced will be resolved. They expect inventory balance to return to more normal levels by the end of this fiscal year, and CapEx levels are expected to drop in the second half. PRICE ACTION: In early afternoon trading, H.B. Fuller fell $3.07, or about 6.1%, to $47.18 on heavy trading volume. Despite today's pull back, the stock is up approximately 20% over the past 12 months. OTHERS TO WATCH: Other companies in the sealants and chemicals space include Sherwin-Williams (SHW), The Valspar Corporation (VAL), and RPM International (RPM).
News For FUL;SHW;VAL;RPM From The Last 14 Days
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September 16, 2014
08:31 EDTFULH.B. Fuller increases prices for certain products
H.B. Fuller announced that, effective October 1, or as contracts allow, the company's North American Emulsion Polymer business will increase prices for certain products as well as apply a freight and logistics surcharge to all products sold by the business in North America. Vinyl acetate ethylene, or VAE, copolymers, vinyl acrylics, and polyvinyl acetate, or PVAc, homopolymers prices will be increased by 3c per wet pound. This price increase includes the Elvace, Plyamul, Copro, and PACE product brands. In addition, a freight and logistics surcharge of 2c per wet pound will be applied to all polymer emulsion products with delivered pricing terms.
07:39 EDTRPMCredit Suisse to hold a conference
Basic Materials Conference to be held in New York on September 16-18.
September 4, 2014
21:18 EDTVALValspar management to meet with JPMorgan
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September 3, 2014
13:02 EDTFULH.B. Fuller acquires ProSpec Construction Products
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