H.B. Fuller Company (NYSE:FUL) Q2 2023 Earnings Conference Call June 29, 2023 10:30 AM ET
Company Participants
Steven Brazones - Vice President of Investor Relations
Celeste Mastin - President and Chief Executive Officer
John Corkrean - Executive Vice President and Chief Financial Officer
Conference Call Participants
Michael Harrison - Seaport Research Partners
Ghansham Panjabi - Robert W. Baird & Co.
Vincent Anderson - Stifel, Nicolaus & Company, Inc.
Jeffrey Zekauskas - JPMorgan Chase & Co.
David Huang - Deutsche Bank
Rosemarie Morbelli - Gabelli Funds
Operator
Good morning. My name is David, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the H.B. Fuller Q2 2023 Earnings Conference Call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
Thank you. Steven Brazones, you may begin your conference.
Steven Brazones
Thank you, operator. Welcome to H.B. Fuller's second quarter 2023 investor conference call. Presenting today are Celeste Mastin, President and Chief Executive Officer and John Corkrean, Executive Vice President and Chief Financial Officer. After our prepared remarks, we will have a question-and-answer session.
Before we begin, let me remind everyone that our comments today will include references to certain non-GAAP financial measures. These measures are supplemental to the results determined in accordance with GAAP. We believe that these measures are useful to investors in understanding our operating performance and to compare our performance with other companies. Reconciliation of non-GAAP measures to the nearest GAAP measures are included in our earnings release.
Unless otherwise noted, comments about revenue refer to organic revenue and comments about EPS, EBITDA and profit margins refer to adjusted non-GAAP measures. We will also be making forward-looking statements during this call. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially from these expectations due to factors covered in our earnings release, comments made during this call and the risk factors detailed in our filings with the Securities and Exchange Commission, all of which are available on our website at investors.hbfuller.com.
I will now turn the call over to Celeste Mastin. Celeste?
Celeste Mastin
Thank you, Steven, and welcome, everyone. Our second quarter profit performance was strong and in line with our expectations despite adverse customer destocking actions and slower industrial demand. Our ability to successfully manage changing price and raw material dynamics while scaling production cost is delivering EBITDA growth and significant margin improvement and we remain on track to deliver strong growth in adjusted EBITDA in fiscal 2023.