H.B. Fuller Surges after Q2 Results

H.B. Fuller Company (FUL) shares surged more than 10% today after posting better-than-expected fiscal second-quarter profit late Tuesday.

The company earned 36 cents per share for the quarter, which bested the consensus of 25 cents. However, EPS declined 18% on a year-over-year basis.

Although H.B. Fuller benefited from higher prices and recent acquisitions during the quarter, it was more than offset by lower sales volume.

Revenue dipped 16% to $299.2 million.

The company expects economic headwinds to continue and, therefore, stood by its March forecast of a revenue decline in the range of 10% to 12% for the year.

For the fiscal year ending in November 2009, the consensus estimate fell 2 cents to $1.07 per share over the past month as 1 of 8 analysts revised downward.

This Zacks #3 Rank ("Hold") is trading on volume of 223,000 shares, compared to the daily average of 263,466.

Read the full analyst report on FUL