H.B.フラーの適時開示・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 18, 2025

H.B. Fuller Company

(Exact Name of Company as Specified in Charter)

Minnesota		001-09225		41-0268370
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1200 Willow Lake Boulevard, P.O. Box 64683, St. Paul, Minnesota		55164-0683
(Address of principal executive offices)		(Zip Code)

Company’s telephone number, including area code: (651) 236-5900

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00	FUL	NYSE

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 DFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events.

H.B. Fuller Company (“H.B. Fuller” or the “Company”) is filing this Current Report on Form 8-K to provide restated unaudited historical financial information for each quarter of the fiscal years ended November 30, 2024 and December 2, 2023 and for the entire 2024 and 2023 fiscal years to reflect a change in operating segments for financial reporting purposes implemented in the first quarter ended March 1, 2025. Throughout the fiscal years ended November 30, 2024 and December 2, 2023, the Company’s business was reported in three operating segments consisting of the Hygiene, Health and Consumable Adhesives, Engineering Adhesives, and Construction Adhesives global business units (GBUs). Beginning with the start of fiscal 2025, the Company reorganized the business and construction segments of its portfolio by selling the Company’s Flooring business and combining its Insulated Glass, Woodworking, and Composite segments, previously part of the Engineering Adhesives GBU, with its Roofing and Building Envelope and Infrastructure (BE&I) segments to form the newly named Building Adhesive Solutions (BAS). This change in operating segments is designed to capture growth in the burgeoning global infrastructure market, including energy, utilities and global data centers, and capitalize on the Company’s existing position in the global architectural market.

The financial information is provided on a retrospective basis as if the changes had taken place at the beginning of the fiscal year ended December 2, 2023. Adjustments to reported results and the financial information related to the Flooring business divested on December 2, 2024 are reflected within the Corporate Unallocated category. Furthermore, the restatement of historical financial information for the years ended November 30, 2024, and December 2, 2023, results in minor variations in the reported revenues and operating income of our Hygiene, Health and Consumable Adhesives operating segment which are primarily driven by changes in prior year customer market allocations over time which have been retroactively realigned to current year models. These changes have no impact on the Company’s consolidated statements of income, consolidated balance sheets, consolidated statements of total equity and consolidated statements of cash flows previously reported for the 2024 and 2023 fiscal years on the basis of generally accepted accounting principles (“GAAP”).

The Company is also providing supplemental unaudited historical revised adjusted measures for each quarter of the fiscal years ended December 2, 2023 and November 30, 2024 and the entire 2023 and 2024 fiscal years that do not conform to generally accepted accounting principles (“non-GAAP measures”), including adjusted net income attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin. The non-GAAP measures reflect the operating segment change. Management has included the non-GAAP information to assist investors in understanding the operating performance of the Company and its operating segments as well as the comparability of results. The non-GAAP measures should not be construed as an alternative to the reported results determined in accordance with GAAP, and the non-GAAP measures may not be consistent with the methodologies used by other companies. The non-GAAP measures have been reconciled to the nearest applicable GAAP measures in the tables below. There was no change to the Company’s non-GAAP measures on a consolidated basis for adjusted net income attributable to H.B. Fuller or adjusted EBITDA as a result of the operating segment change.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.

99.1

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 18, 2025

	H.B. FULLER COMPANY


	By:	/s/ Gregory O. Ogunsanya
		Gregory O. Ogunsanya
		Senior Vice President, General Counsel
		and Corporate Secretary

EX-99.1 2 ex_788896.htm EXHIBIT 99.1 HTML Editor

Exhibit 99.1

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Fiscal year ended November 30, 2024
In thousands (unaudited)

	Quarter Ended			Quarter Ended			Quarter Ended			Quarter Ended			Year Ended
	March 2,			June 1,			August 31,			November 30,			November 30,
	2024			2024			2024			2024			2024
Net Revenue:
Hygiene, Health and Consumable Adhesives	$	368,078		$	393,313		$	389,980		$	395,174		$	1,546,545
Engineering Adhesives		226,075			257,613			260,038			265,305			1,009,031
Building Adhesive Solutions		179,666			222,484			228,408			225,945			856,503
Corporate unallocated		36,600			43,697			39,501			36,860			156,657
Total H.B. Fuller	$	810,419		$	917,107		$	917,927		$	923,284		$	3,568,736

Segment Operating Income:
Hygiene, Health and Consumable Adhesives	$	47,393		$	49,840		$	48,677		$	38,821		$	184,731
Engineering Adhesives		25,820			38,987			40,087			39,597			144,491
Building Adhesive Solutions		7,139			21,987			25,976			20,841			75,943
Corporate unallocated		(13,477	)		(10,219	)		(10,399	)		(22,851	)		(56,945	)
Total H.B. Fuller	$	66,875		$	100,595		$	104,341		$	76,408		$	348,220

Adjusted EBITDA 1
Hygiene, Health and Consumable Adhesives	$	62,863		$	64,677		$	63,953		$	54,257		$	245,750
Engineering Adhesives		38,202			51,110			55,631			55,569			200,512
Building Adhesive Solutions		21,410			35,863			40,242			35,656			133,171
Corporate unallocated		543			5,600			5,426			2,854			14,422
Total H.B. Fuller	$	123,018		$	157,250		$	165,252		$	148,336		$	593,855

Adjusted EBITDA Margin 1
Hygiene, Health and Consumable Adhesives		17.1	%		16.4	%		16.4	%		13.7	%		15.9	%
Engineering Adhesives		16.9	%		19.8	%		21.4	%		20.9	%		19.9	%
Building Adhesive Solutions		11.9	%		16.1	%		17.6	%		15.8	%		15.5	%
Corporate unallocated		1.5	%		12.8	%		13.7	%		7.7	%		9.2	%
Total H.B. Fuller		15.2	%		17.1	%		18.0	%		16.1	%		16.6	%

1 Adjusted net income attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. Adjusted net income attributable to H.B. Fuller is defined as net income before the specific adjustments shown on the tables below. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation, amortization and the specific adjustments shown in the tables below. Adjusted EBITDA margin is defined as adjusted EBITDA divided by net revenue. The tables below provide a reconciliation of adjusted net income attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin to net income attributable to H.B. Fuller, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Regulation G Reconciliation
In thousands (unaudited)

	Hygiene, Health						Building
Year Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
November 30, 2024	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	190,721		$	147,111		$	83,253		$	421,085		$	(290,829	)	$	130,256
Adjustments:
Acquisition project costs		-			-			-			-			11,035			11,035
Organizational realignment		-			-			-			-			39,996			39,996
Project One		-			-			-			-			11,885			11,885
Business divestiture		-			-			-			-			47,267			47,267
Other		-			-			-			-			(1,981	)		(1,981	)
Discrete tax items		-			-			-			-			(5,469	)		(5,469	)
Income tax effect on adjustments		-			-			-			-			(15,811	)		(15,811	)
Adjusted net income attributable to H.B. Fuller 1		190,721			147,111			83,253			421,085			(203,907	)		217,178
Add:
Interest expense		-			-			-			-			133,122			133,122
Interest income		-			-			-			-			(4,679	)		(4,679	)
Income taxes		-			-			-			-			77,661			77,661
Depreciation and amortization expense		55,029			53,401			49,918			158,348			12,225			170,573
Adjusted EBITDA 1	$	245,750		$	200,512		$	133,171		$	579,433		$	14,422		$	593,855
Net revenue	$	1,546,545		$	1,009,031		$	856,503		$	3,412,079		$	156,657		$	3,568,736
Adjusted EBITDA margin 1		15.9	%		19.9	%		15.5	%		17.0	%		9.2	%		16.6	%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Regulation G Reconciliation
In thousands (unaudited)

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
March 2, 2024	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	48,888		$	26,476		$	8,967		$	84,331		$	(53,340	)	$	30,991
Adjustments:
Acquisition project costs		-			-			-			-			2,043			2,043
Organizational realignment		-			-			-			-			7,262			7,262
Project One		-			-			-			-			3,213			3,213
Discrete tax items		-			-			-			-			(2,527	)		(2,527	)
Income tax effect on adjustments		-			-			-			-			(3,290	)		(3,290	)
Adjusted net income attributable to H.B. Fuller 1		48,888			26,476			8,967			84,331			(46,639	)		37,692
Add:
Interest expense		-			-			-			-			31,901			31,901
Interest income		-			-			-			-			(1,307	)		(1,307	)
Income taxes		-			-			-			-			13,631			13,631
Depreciation and amortization expense		13,975			11,726			12,443			38,144			2,957			41,101
Adjusted EBITDA 1	$	62,863		$	38,202		$	21,410		$	122,475		$	543		$	123,018
Net revenue	$	368,078		$	226,075		$	179,666		$	773,819		$	36,600		$	810,419
Adjusted EBITDA margin 1		17.1	%		16.9	%		11.9	%		15.8	%		1.5	%		15.2	%

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
June 1, 2024	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	51,336		$	39,643		$	23,816		$	114,795		$	(63,531	)	$	51,264
Adjustments:
Acquisition project costs		-			-			-			-			1,467			1,467
Organizational realignment		-			-			-			-			7,275			7,275
Project One		-			-			-			-			2,845			2,845
Other		-			-			-			-			914			914
Discrete tax items		-			-			-			-			1,317			1,317
Income tax effect on adjustments		-			-			-			-			(1,558	)		(1,558	)
Adjusted net income attributable to H.B. Fuller 1		51,336			39,643			23,816			114,795			(51,271	)		63,524
Add:
Interest expense		-			-			-			-			32,313			32,313
Interest income		-			-			-			-			(1,197	)		(1,197	)
Income taxes		-			-			-			-			22,658			22,658
Depreciation and amortization expense		13,341			11,467			12,047			36,855			3,097			39,952
Adjusted EBITDA 1	$	64,677		$	51,110		$	35,863		$	151,650		$	5,600		$	157,250
Net revenue	$	393,313		$	257,613		$	222,484		$	873,410		$	43,697		$	917,107
Adjusted EBITDA margin 1		16.4	%		19.8	%		16.1	%		17.4	%		12.8	%		17.1	%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Regulation G Reconciliation
In thousands (unaudited)

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
August 31, 2024	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	50,176		$	40,742		$	27,804		$	118,722		$	(63,361	)	$	55,361
Adjustments:
Acquisition project costs		-			-			-			-			3,474			3,474
Organizational realignment		-			-			-			-			9,471			9,471
Project One		-			-			-			-			3,154			3,154
Other		-			-			-			-			(2,904	)		(2,904	)
Discrete tax items		-			-			-			-			(2,937	)		(2,937	)
Income tax effect on adjustments		-			-			-			-			(1,624	)		(1,624	)
Adjusted net income attributable to H.B. Fuller 1		50,176			40,742			27,804			118,722			(54,727	)		63,995
Add:
Interest expense		-			-			-			-			35,287			35,287
Interest income		-			-			-			-			(1,090	)		(1,090	)
Income taxes		-			-			-			-			22,825			22,825
Depreciation and amortization expense		13,777			14,889			12,438			41,104			3,131			44,235
Adjusted EBITDA 1	$	63,953		$	55,631		$	40,242		$	159,826		$	5,426		$	165,252
Net revenue	$	389,980		$	260,038		$	228,408		$	878,426		$	39,501		$	917,927
Adjusted EBITDA margin 1		16.4	%		21.4	%		17.6	%		18.2	%		13.7	%		18.0	%

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
November 30, 2024	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	40,322		$	40,250		$	22,667		$	103,239		$	(110,598	)	$	(7,359	)
Adjustments:
Acquisition project costs		-			-			-			-			4,051			4,051
Organizational realignment		-			-			-			-			15,958			15,958
Project One		-			-			-			-			2,672			2,672
Business divestiture		-			-			-			-			47,267			47,267
Other		-			-			-			-			39			39
Discrete tax items		-			-			-			-			(1,322	)		(1,322	)
Income tax effect on adjustments		-			-			-			-			(9,339	)		(9,339	)
Adjusted net income attributable to H.B. Fuller 1		40,322			40,250			22,667			103,239			(51,272	)		51,967
Add:
Interest expense		-			-			-			-			33,621			33,621
Interest income		-			-			-			-			(1,084	)		(1,084	)
Income taxes		-			-			-			-			18,546			18,546
Depreciation and amortization expense		13,935			15,319			12,989			42,243			3,043			45,286
Adjusted EBITDA 1	$	54,257		$	55,569		$	35,656		$	145,482		$	2,854		$	148,336
Net revenue	$	395,174		$	265,305		$	225,945		$	886,424		$	36,860		$	923,284
Adjusted EBITDA margin 1		13.7	%		20.9	%		15.8	%		16.4	%		7.7	%		16.1	%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Fiscal year ended December 2, 2023
In thousands (unaudited)

	Quarter Ended			Quarter Ended			Quarter Ended			Quarter Ended			Year Ended
	March 4,			June 3,			September 2,			December 2,			December 2,
	2023			2023			2023			2023			2023
Net Revenue:
Hygiene, Health and Consumable Adhesives	$	387,220		$	407,884		$	401,744		$	410,759		$	1,607,607
Engineering Adhesives		221,534			247,240			254,162			250,076			973,012
Building Adhesive Solutions		166,916			201,479			205,047			204,076			777,518
Corporate unallocated		33,513			41,636			39,681			37,968			152,797
Total H.B. Fuller	$	809,183		$	898,239		$	900,634		$	902,879		$	3,510,934

Segment Operating Income:
Hygiene, Health and Consumable Adhesives	$	47,108		$	53,157		$	53,883		$	66,406		$	220,554
Engineering Adhesives		25,360			33,144			41,918			44,258			144,680
Building Adhesive Solutions		(1,927	)		13,411			15,076			14,789			41,350
Corporate unallocated		(10,274	)		(9,562	)		(19,558	)		(12,051	)		(51,447	)
Total H.B. Fuller	$	60,267		$	90,150		$	91,319		$	113,402		$	355,137

Adjusted EBITDA 1
Hygiene, Health and Consumable Adhesives	$	61,358		$	66,509		$	69,726		$	81,481		$	279,074
Engineering Adhesives		36,715			44,099			53,549			55,012			189,375
Building Adhesive Solutions		14,442			29,283			32,021			31,307			107,053
Corporate unallocated		(2,843	)		2,874			502			4,802			5,336
Total H.B. Fuller	$	109,672		$	142,765		$	155,798		$	172,602		$	580,838

Adjusted EBITDA Margin 1
Hygiene, Health and Consumable Adhesives		15.8	%		16.3	%		17.4	%		19.8	%		17.4	%
Engineering Adhesives		16.6	%		17.8	%		21.1	%		22.0	%		19.5	%
Building Adhesive Solutions		8.7	%		14.5	%		15.6	%		15.3	%		13.8	%
Corporate unallocated		(8.5	)%		6.9	%		1.3	%		12.6	%		3.5	%
Total H.B. Fuller		13.6	%		15.9	%		17.3	%		19.1	%		16.5	%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Regulation G Reconciliation
In thousands (unaudited)

	Hygiene, Health						Building
Year Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
December 2, 2023	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	227,870		$	147,911		$	51,049		$	426,830		$	(281,924	)	$	144,906
Adjustments:
Acquisition project costs		-			-			-			-			16,874			16,874
Organizational realignment		-			-			-			-			29,900			29,900
Project One		-			-			-			-			9,815			9,815
Other		-			-			-			-			(611	)		(611	)
Discrete tax items		-			-			-			-			26,085			26,085
Income tax effect on adjustments		-			-			-			-			(10,604	)		(10,604	)
Adjusted net income attributable to H.B. Fuller 1		227,870			147,911			51,049			426,830			(210,465	)		216,365
Add:
Interest expense		-			-			-			-			131,913			131,913
Interest income		-			-			-			-			(3,943	)		(3,943	)
Income taxes		-			-			-			-			78,047			78,047
Depreciation and amortization expense		51,204			41,464			56,004			148,672			9,784			158,456
Adjusted EBITDA 1	$	279,074		$	189,375		$	107,053		$	575,502		$	5,336		$	580,838
Net revenue	$	1,607,607		$	973,012		$	777,518		$	3,358,137		$	152,797		$	3,510,934
Adjusted EBITDA margin 1		17.4	%		19.5	%		13.8	%		17.1	%		3.5	%		16.5	%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Regulation G Reconciliation
In thousands (unaudited)

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
March 4, 2023	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	49,668		$	26,493		$	919		$	77,080		$	(55,191	)	$	21,889
Adjustments:
Acquisition project costs		-			-			-			-			2,235			2,235
Organizational realignment		-			-			-			-			2,944			2,944
Project One		-			-			-			-			2,172			2,172
Other		-			-			-			-			3,073			3,073
Discrete tax items		-			-			-			-			846			846
Income tax effect on adjustments		-			-			-			-			(2,400	)		(2,400	)
Adjusted net income attributable to H.B. Fuller 1		49,668			26,493			919			77,080			(46,321	)		30,759
Add:
Interest expense		-			-			-			-			30,380			30,380
Interest income		-			-			-			-			(667	)		(667	)
Income taxes		-			-			-			-			11,286			11,286
Depreciation and amortization expense		11,690			10,222			13,523			35,435			2,479			37,914
Adjusted EBITDA 1	$	61,358		$	36,715		$	14,442		$	112,515		$	(2,843	)	$	109,672
Net revenue	$	387,220		$	221,534		$	166,916		$	775,670		$	33,513		$	809,183
Adjusted EBITDA margin 1		15.8	%		16.6	%		8.7	%		14.5	%		-8.5	%		13.6	%

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
June 3, 2023	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	54,257		$	33,628		$	15,417		$	103,302		$	(62,901	)	$	40,401
Adjustments:
Acquisition project costs		-			-			-			-			2,919			2,919
Organizational realignment		-			-			-			-			5,690			5,690
Project One		-			-			-			-			2,681			2,681
Other		-			-			-			-			521			521
Discrete tax items		-			-			-			-			2,042			2,042
Income tax effect on adjustments		-			-			-			-			(2,172	)		(2,172	)
Adjusted net income attributable to H.B. Fuller 1		54,257			33,628			15,417			103,302			(51,220	)		52,082
Add:
Interest expense		-			-			-			-			33,131			33,131
Interest income		-			-			-			-			(932	)		(932	)
Income taxes		-			-			-			-			19,421			19,421
Depreciation and amortization expense		12,252			10,471			13,866			36,589			2,474			39,063
Adjusted EBITDA 1	$	66,509		$	44,099		$	29,283		$	139,891		$	2,874		$	142,765
Net revenue	$	407,884		$	247,240		$	201,479		$	856,603		$	41,636		$	898,239
Adjusted EBITDA margin 1		16.3	%		17.8	%		14.5	%		16.3	%		6.9	%		15.9	%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)
Regulation G Reconciliation
In thousands (unaudited)

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
September 2, 2023	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	55,715		$	42,727		$	17,502		$	115,944		$	(78,317	)	$	37,627
Adjustments:
Acquisition project costs		-			-			-			-			6,480			6,480
Organizational realignment		-			-			-			-			10,421			10,421
Project One		-			-			-			-			2,734			2,734
Other		-			-			-			-			503			503
Discrete tax items		-			-			-			-			6,243			6,243
Income tax effect on adjustments		-			-			-			-			(4,875	)		(4,875	)
Adjusted net income attributable to H.B. Fuller 1		55,715			42,727			17,502			115,944			(56,811	)		59,133
Add:
Interest expense		-			-			-			-			35,105			35,105
Interest income		-			-			-			-			(1,128	)		(1,128	)
Income taxes		-			-			-			-			20,862			20,862
Depreciation and amortization expense		14,011			10,822			14,519			39,352			2,474			41,826
Adjusted EBITDA 1	$	69,726		$	53,549		$	32,021		$	155,296		$	502		$	155,798
Net revenue	$	401,744		$	254,162		$	205,047		$	860,953		$	39,681		$	900,634
Adjusted EBITDA margin 1		17.4	%		21.1	%		15.6	%		18.0	%		1.3	%		17.3	%

	Hygiene, Health						Building
Three Months Ended	and Consumable			Engineering			Adhesive						Corporate			H.B. Fuller
December 2, 2023	Adhesives			Adhesives			Solutions			Total			Unallocated			Consolidated
Net income attributable to H.B. Fuller	$	68,229		$	45,063		$	17,211		$	130,503		$	(85,512	)	$	44,991
Adjustments:
Acquisition project costs		-			-			-			-			4,765			4,765
Organizational realignment		-			-			-			-			10,549			10,549
Project One		-			-			-			-			2,193			2,193
Other		-			-			-			-			(3,903	)		(3,903	)
Discrete tax items		-			-			-			-			16,955			16,955
Income tax effect on adjustments		-			-			-			-			(1,158	)		(1,158	)
Adjusted net income attributable to H.B. Fuller 1		68,229			45,063			17,211			130,503			(56,111	)		74,392
Add:
Interest expense		-			-			-			-			33,297			33,297
Interest income		-			-			-			-			(1,217	)		(1,217	)
Income taxes		-			-			-			-			26,477			26,477
Depreciation and amortization expense		13,252			9,949			14,096			37,297			2,356			39,653
Adjusted EBITDA 1	$	81,481		$	55,012		$	31,307		$	167,800		$	4,802		$	172,602
Net revenue	$	410,759		$	250,076		$	204,076		$	864,911		$	37,968		$	902,879
Adjusted EBITDA margin 1		19.8	%		22.0	%		15.3	%		19.4	%		12.6	%		19.1	%