FMP
Review of H.B. Fuller Company’s Q3 Results
Sep 27, 2021 8:05 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Analysts at Deutsche Bank provided a report reviewing the recent Q3 results by H.B. Fuller Company (NYSE:FUL), increasing their price target to $70 from $67.
The company’s shares rose 7.9% following a solid Q3 release with (1) EBITDA beat by 1%, (2) implied Q4 EBITDA guidance, roughly in line with consensus and (3) early 2022 EBITDA guidance of up ~10% meeting expectations.
According to the brokerage, the in-line H2/21 results and outlook were particularly noteworthy as a number of coatings and specialty chemical peers, such as AXTA, ECL, IFF, PPG, and SHW, have recently preannounced earnings shortfalls for the September quarter and/or lowered their full-year guidance due to issues around raw material inflation, raw material availability, freight and logistics constraints, and chip shortages.
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