About Cabling Installation & Maintenance

Our mission: Bringing practical business and technical intelligence to today's structured cabling professionals

For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

Throughout our annual magazine, weekly email newsletters and 24/7/365 website, Cabling Installation & Maintenance digs into the essential topics our audience focuses on.

  • Design, Installation and Testing: We explain the bottom-up design of cabling systems, from case histories of actual projects to solutions for specific problems or aspects of the design process. We also look at specific installations using a case-history approach to highlight challenging problems, solutions and unique features. Additionally, we examine evolving test-and-measurement technologies and techniques designed to address the standards-governed and practical-use performance requirements of cabling systems.
  • Technology: We evaluate product innovations and technology trends as they impact a particular product class through interviews with manufacturers, installers and users, as well as contributed articles from subject-matter experts.
  • Data Center: Cabling Installation & Maintenance takes an in-depth look at design and installation workmanship issues as well as the unique technology being deployed specifically for data centers.
  • Physical Security: Focusing on the areas in which security and IT—and the infrastructure for both—interlock and overlap, we pay specific attention to Internet Protocol’s influence over the development of security applications.
  • Standards: Tracking the activities of North American and international standards-making organizations, we provide updates on specifications that are in-progress, looking forward to how they will affect cabling-system design and installation. We also produce articles explaining the practical aspects of designing and installing cabling systems in accordance with the specifications of established standards.

Cabling Installation & Maintenance is published by Endeavor Business Media, a division of EndeavorB2B.

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Dividend King H.B. Fuller Signals Slowing In 2023

H.B. Fuller stock price

Dividend King H.B. Fuller (NYSE: FUL) is not an exciting stock but can be a telling indicator of economic activity. The company makes glue and adhesives for all end market uses, a leading input for all industries. The company’s results don’t point to dividend cuts or suspensions but suggest an economic slowing in 2023. The primary segment affected is the housing and construction segment which is impacted by high inflation, rising rates and low inventory.

That’s no surprise. Given the Fed's stance on inflation, the housing industry is on the brink of a double-digit contraction in economic activity that could be more severe than forecast. RH (NYSE: RH) results echo this sentiment; it expects conditions to worsen for the housing market before they improve. 

“Additionally, inflation that was thought to be “transitory” is now deemed “persistent” by the Federal Reserve, resulting in a record rise in interest rates triggering a dramatic decline of the housing market, with luxury homes sales down 45% in the most recent quarter versus a year ago. Add to that an underperforming stock market and a banking crisis no one saw coming. The data points to business in our sector likely getting worse before it gets better,” said RH in its letter to shareholders. 

H.B. Fuller dividend

H.B. Fuller Prepares For Slow Year In 2023 

To say the least, H.B. Fuller’s Q1 results were mixed, leaving the market less than enthused about the outlook. The company reported $809 million in revenue, down 5.5% YOY, and missed the consensus estimate by 200 basis points despite higher realized prices. The decline is due to de-stocking among retailers in the Construction Adhesives segment and softness in all other categories. Total volume is down 10.8% and only partially offset by higher prices. The other segments, Hygiene, Health & Consumables and Engineering Adhesives, posted YOY growth but slower than expected. 

The company’s gross margin widened by 190 basis points, but this improvement was more than offset by increased SG&A, interest expenses and FX translation. Interest and FX alone account for $0.28 in EPS, and those issues are not going away soon. The earnings also missed the Marketbeat.com consensus estimate by 1000 basis points, and the outlook is iffy. 

The company is guiding for YOY revenue and earnings growth but is also preparing for a slowdown in the construction business. Prep includes realigning the cost structure and manufacturing capacity to align with demand and restructuring debt. These efforts are expected to drive margin improvement sequentially throughout the year and drive 3% to 13% adjusted EPS growth. The bad news is that 3% to 13% is below consensus at the high end of the range, and the guidance might be optimistic. 

H.B. Fuller’s Dividend Is Safe 

As mixed and murky as the outlook is, H.B. Fuller’s dividend is safe. The company is paying only 18% of the low end of its guidance range, leaving ample room for increases, if not large ones. The recent debt restructuring left the company with a more favorable cost structure that aids dividend safety. 

The Technical Outlook: H.B. Fuller Moving Lower Within A Range 

H.B. Fuller shares are down following the Q1 release and may move lower. The action shows resistance at the 150-day moving average, which will cap gains until later in the year. The next stop is likely near $60 and the low end of the range where support should be strong. If this stock can’t hold at $60, moving to the pre-pandemic price point near $50 is possible.

 

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