Nordson Corporation (NASDAQ:NDSN) shares are trading higher Thursday after the company beat third quarter estimates and authorized a $500 million repurchase of outstanding shares on Wednesday after the market closed.
What To Know: Nordson reported adjusted earnings per share of $2.73, beating the consensus estimate of $2.63. In addition, the company reported sales of $741.50 million, beating the consensus estimate of $722.57 million, and representing a 12% year-over-year increase.
The increase in sales was driven by acquisition gains, organic growth and favorable currency impacts.
EBITDA increased 15% to $239 million, representing 32% of revenue. The company also generated cash flow equal to 180% of net income.
FY25 Outlook: The company anticipates sales between $2.75 billion and $2.87 billion. Furthermore, it expects earnings per share from $9.70 to $10.50,
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NDSN Price Action: At the time of writing, Nordson shares are trading 4.77% higher at $223.70, according to data from Benzinga Pro.
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