H.B. Fuller cuts FY23 EPS view to $4.10-$4.50 from $4.15-$4.55

Consensus $4.25. Cuts FY23 revenue view to (4%) to (1%) from prior view of (3%) to flat. Consensus $3.76B. Organic revenue for FY23 is now expected to be in the range of down 1% to up 1%, reflecting expected demand weakness in Construction Adhesives. The Company continues to expect adjusted EBITDA for fiscal 2023 to be in the range of $580M to $610M, equating to growth of approximately 9% to 15% versus fiscal year 2022.