UFP Technologies Inc

H.B. Fuller Company has appointed R. Jeffrey Bailly to its Board of Directors, effective immediately, with Ruth Kimmelshue stepping down after 9 years of service. Bailly spent more than three decades as CEO of UFP Technologies, from 1995 to 2026, transforming it into a global contract development and manufacturing organization focused on higher growth, higher margin medical end markets. During his tenure, UFP completed more than 20 acquisitions, including its transformative 2018 acquisition of Dielectrics, while revenue grew approximately 20-fold and profitability and market capitalization grew more than 150-fold; over his final five years, UFP's share price rose approximately 300%. President and CEO Celeste Mastin said Bailly's operating and leadership experience across key medical end markets will be valuable as H.B. Fuller accelerates its path to greater than 20% adjusted EBITDA margin. Board Chair Terry Rasmussen thanked Kimmelshue for her contributions and said the Board had engaged closely with shareholders, who recommended several impressive candidates, before bringing on a director whose background aligns with the Company's strategic priorities.

UFP Technologies will report its second-quarter results tomorrow after market hours. The medical products company met revenue expectations last quarter with $154.2 million, a 4.1% year-on-year increase, and beat EPS estimates. For this quarter, analysts expect revenue growth of 5.4% year-on-year, a slowdown from the 37.2% growth in the same quarter last year. UFP Technologies has missed Wall Street revenue estimates multiple times over the past two years, and its stock is down 6.3% over the last month heading into earnings with an average analyst price target of $324.50 compared to the current share price of $254.78.