Adhesives giant H.B. Fuller reported double-digit profit gains for the second quarter, but results still missed Wall Street expectations.
The Vadnais Heights-based maker of adhesives used to make cellphones, sealants, diapers and more, reported quarterly sales fell 1.5 percent to $532 million amid negative foreign currency exchange rates and lower prices.
Profits from continuing operations, however, rose 12 percent to $33.4 million, or 65 cents per share, with the help of cutting costs, strong results from Europe, Asia and its engineering adhesives division and improving sales volumes in the Americas.
On an adjusted basis, earnings were 67 cents per share.
Analysts had forecast earnings of 68 cents per share and revenue of $538.6 million for the quarter ended May 28.
Company officials narrowed their guidance for the full year, saying 2016 earnings are now expected to reach $2.45 to $2.60 per share, compared with the previous guidance of $2.40 to $2.60 per share.
Officials did not provide guidance on revenue.
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