Nobody Bought More Adhesive. Everybody Paid More.
H.B. Fuller closed its third quarter with 7.4 points of price and three points less volume, and called the margin a record. The plant-closure program behind it is three quarters unspent and names no site. Also on the file: the drug docket that named a butanediol plant 35 days before its press release, a 99.99 percent consent decree at a Puerto Rico sterilizer, and $700 million of notes that get bought back at 101 if a crop protection spin-off does not complete.
If you buy hot melt by the drum or a structural adhesive by the tote, your supplier published a document about you on Wednesday.
H.B. Fuller's third quarter closed on August 29. Pricing added 7.4% to revenue.
Volume took 3.0% straight back out.
That is the widest that gap has been in seven quarters, and it produced the best margin the company has ever printed.
"What does it cost a formulator to price through a shrinking order book, and how long does that work?"
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