H.B. Fuller’s Q3 revenue rose 5.2% (organic growth: 4.4%), adjusted EBITDA grew 9% to $187 million, and adjusted EPS rose 21% to $1.52 as pricing offset raw-material inflation. FY2026 adjusted EBITDA is forecast at $655 million-$670 million, with adjusted EPS of $4.70-$4.85.
Project Quantum Leap remains on track, H.B. Fuller said. The company expects about $25 million in benefits to be realized by the end of 2026, another $20 million-$25 million in incremental savings in 2027, and approximately $75 million in annualized conversion-cost savings by 2030. It expects to reduce its 82 manufacturing facilities at the end of 2024 to about 62 by the end of 2026, below 60 by the end of 2027 excluding AMS, and ultimately to 55.
The 2026 outlook excludes the proposed Advanced Medical Solutions acquisition, which H.B. Fuller said remains on track to close by year-end as it proceeds through required regulatory approvals. After closing, the company expects leverage to return to its target range of 2.5 to 3 times within two years. Raw-material prices have stabilized at elevated levels, and H.B. Fuller expects them to remain near current levels at least through year-end, with further price increases as conditions warrant.
