More on Nordson (NDSN): FQ2 comes in short of the mark. Organic sales volume grew in all three operating units and every region, with strong margin performance in every segment; Adhesive Dispensing Systems +1%, Advanced Technology Systems +14%, Industrial Coating Systems +13%. Backlog totalled approximately $200M, +3% Y/Y. Looking forward the company sees Q3 EPS of $1.00 - 1.09, below the consensus of $1.15, on revenue of $404M - $419M, also below the consensus call for sales of $429.9M. Shares -3.6% AH.
Shares of Nordson (NDSN +12.5%) jump after its FQ3 results easily beat across the board late yesterday. Net earnings rose 18% Y/Y, on strength in its organic volume and rising backlog. The company also ups its current quarter forecast, now expecting FQ4 sales to rise 23% to 27% over year-ago levels. Earnings are seen in a range of $0.96 to $1.04 a share. Street estimates are for 19.2% year-over-year sales growth and a $0.95 a share profit.
Nordson (NDSN) +9.4% after its guidance yesterday offsets an FQ2 miss. Net profit -20% to $52.1M as lighter organic volume and higher expenses weakened margins. Nordson also announced the $200M buy of extrusion-dies producer EDI. In FQ3, Nordson expects EPS of $0.96-$1.04 vs. forecasts of $0.86 and revenue of $337M-$$349M vs. $326M.
Nordson Corp engineers, manufactures and markets differentiated products and systems used for adhesive, coating, sealant and biomaterial dispensing, fluid management, testing and inspection, curing, and surface treatment.