Nordson Corp (NASDAQ:NDSN) reported financial results for the third quarter after the market close on Wednesday. Here’s a rundown of the report.
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Q3 Earnings: Nordson reported third-quarter revenue of $741.51 million, beating analyst estimates of $722.57 million, according to Benzinga Pro. The company reported third-quarter adjusted earnings of $2.73 per share, beating estimates of $2.63 per share.
Total revenue was up 12% year-over-year. Here’s a breakdown of revenue by segment.
- Industrial Precision Solutions: $351 million, up 1%
- Medical and Fluid Solutions: $219 million, up 32%
- Advanced Technology Solutions: $171 million, up 17%
Nordson ended the period with approximately $147.79 million in cash and cash equivalents.
“Through our close-to-customer business model, diverse product portfolio and in-region, for-region manufacturing strategy, we have continuously demonstrated resilience and the ability to deliver solid growth and best-in-class profitability in varying market scenarios,” said Sundaram Nagarajan, president and CEO of Nordson.
Outlook: Nordson said that full-year revenue is now tracking “slightly below” the midpoint of the company’s guidance, while earnings per share is tracking “slightly above” the midpoint.
Nordson executives will further discuss the quarter on an earnings call with investors and analysts at 8:30 a.m. ET Thursday morning.
NDSN Price Action: Nordson shares were up 5.23% in after-hours, trading at $224.68 at the time of publication on Wednesday, according to Benzinga Pro.
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