HB Fuller Company has reported its fourth-quarter and full-year results for fiscal 2025, highlighting robust profitability and margin expansion despite a challenging demand environment.

 

Net revenue for Q4 reached $895 million, down 3.1% from the prior year. Organic revenue fell 1.3%, with pricing initiatives adding 1.2% and volume declines subtracting 2.5%. Foreign currency translation boosted revenue by 1.0%, while acquisitions and divestitures reduced it by 2.8%.

 

Gross profit in Q4 came in at $282 million, with adjusted gross profit at $291 million. Adjusted gross margin rose 290 basis points year-over-year to 32.5%, driven by pricing and raw material cost actions, strategic acquisitions and divestitures, and targeted cost reductions.

 

Net income attributable to HB Fuller was $30 million, while adjusted net income surged to $71 million, producing adjusted EPS of $1.28 per diluted share, up 39.1% from last year.

 

Adjusted EBITDA reached $170 million, a 14.6% increase year-over-year, with margins expanding 290 basis points to 19.0%.

 

“Our execution and agility in the quarter and throughout the year generated double‑digit EPS growth and EBITDA at the top end of our full year guidance range amidst an unpredictable economic backdrop and challenging demand landscape,” said Celeste Mastin, president and CEO. 

 

“During this time, we helped our customers navigate this environment successfully—providing them with material optionality and flexibility while ensuring consistent quality and reliable availability wherever in the world they chose to make their products. These efforts, which strengthened our partnerships and enhanced H.B. Fuller’s competitive positioning, are reflected in our improved profitability and sustained margin expansion."

 

Mastin added, “As a result, we are exiting the fourth quarter with strong momentum heading into 2026 and are firmly on track to achieve our target of greater than 20% EBITDA margin. I am very proud of our team’s resolve, resourcefulness, and the meaningful progress we made in 2025 as we continue transforming H.B. Fuller into a higher‑growth, higher‑margin company.”

 

Net debt ended the quarter at $1.91 billion, down $48 million sequentially but up $68 million year-over-year. Net debt-to-adjusted EBITDA improved to 3.1x from 3.3x last quarter.

 

Net working capital declined $41 million sequentially, reducing to 15.8% of annualized net revenue, up slightly year-over-year due to higher inventory days amid manufacturing footprint optimization.