H.B. Fuller Q3: EPS $1.44, Adjusted EBITDA Margin Hits Record 19.9%
FUL is trading near its 52-week low of $46.7 (7.1% above the low) on elevated volume (2.8× avg).
Summary
H.B. Fuller reported Q3 FY2026 diluted EPS of $1.44, up 18% year-over-year, with record adjusted EBITDA margin of 19.9%. The 10-Q also adds a new shareholder-activism risk factor and discloses a $34.8M litigation accrual.
Key Events · Earnings and Guidance · FUL
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Q3 EPS $1.44, Net Income Up 17.9%
Net income attributable to H.B. Fuller rose to $79.2M from $67.2M a year ago; diluted EPS was $1.44 vs $1.22. Nine-month net income reached $168.0M vs $122.2M.
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Record Adjusted EBITDA Margin of 19.9%
Adjusted EBITDA grew 9.4% to $186.7M in Q3, with margin expanding 80 bps to 19.9%. Pricing contributed 7.4% to revenue growth, offsetting a 3.0% volume decline.
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New Shareholder Activism Risk Factor
The 10-Q adds a risk factor on Ancora Holdings' unsolicited proposal for the Building Adhesive Solutions segment, which the board unanimously rejected as materially undervaluing the business.
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$34.8M Rouse Litigation Accrual
The company maintains a $34.8M accrual ($26.3M after tax) for the Rouse et al. grout litigation settlement, with preliminary court approval granted June 10, 2026.
Analysis · FUL · Industrial Applications And Services
A strong third quarter saw net income climb 17.9% to $79.2M, lifting diluted EPS to $1.44 from $1.22 a year ago. Pricing actions more than offset a 3% volume decline, pushing adjusted EBITDA margin to a record 19.9%. The 10-Q also introduces a new shareholder-activism risk factor tied to Ancora's rejected bid for the Building Adhesive Solutions segment, and discloses a $34.8M accrual for the Rouse grout litigation settlement. Against the backdrop of the pending £715M AMS acquisition, the quarter shows the core business generating solid cash flow while management navigates activist pressure and integration risk.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FUL was trading at $50.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $46.70 to $68.63. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.