FUL - H.B. Fuller FQ2 revenue up 22.7% Y/Y as demand rose amid raw material shortage

H.B. Fuller's ([[FUL]] -2.4%) FQ2 net revenue rose 22.7% Y/Y to $827.9M, driven mainly by restructuring efficiencies and improved global industrial demand.Revenue from the Engineering Adhesives business grew 46.3% to $345.3M, while the Construction Adhesives unit saw a 25.4% growth Y/Y.Revenue from Hygiene, Health and Consumable Adhesives division increased to $364.8M, compared to $344.7M in the FQ2 2020.Organic revenue was up 9.5% when compared with the non-COVID-impacted FQ2 of 2019.Adjusted EPS increased 38% Y/Y to $0.94, driven mainly by strong operating income growth and lower interest expense linked with reduced debt.H.B. Fuller president and CEO Jim Owens said "Despite considerable raw material and packaging shortages, H.B. Fuller was able to meet a sizeable increase in demand by leveraging our extensive global network and partnering with customers and suppliers."Owens further noted that raw material costs increased substantially in the second quarter, worsened by shortages and impacts from storm Uri.GAAP EPS rose to $0.90, compared to $0.61

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H.B. Fuller FQ2 revenue up 22.7% Y/Y as demand rose amid raw material shortage