Nordson Corporation (NDSN) 銘柄情報

Nordson Corporation Reports Third Quarter Fiscal 2024 Results and Updates Annual Guidance

Source: Business Wire
Third Quarter Highlights:

Sales were $662 million, an increase of 2% year-over-year and in-line with mid-point of guidance
Earnings per diluted share were $2.04
Adjusted earnings per diluted share were $2.41, $0.08 above the mid-point of guidance
Updated Full-Year Guidance:

Increasing full fiscal year 2024 revenue guidance to reflect the addition of Atrion acquisition
Maintaining full fiscal year 2024 adjusted earnings per diluted share guidance, inclusive of the slightly dilutive fourth quarter Atrion acquisition impact
Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal third quarter ended July 31, 2024. Sales were $662 million, compared to the prior year’s third quarter sales of $649 million. The third quarter 2024 sales included a favorable acquisition impact of 4%, partially offset by an organic sales decrease of 1% and unfavorable currency translation of 1%. The organic sales decrease was driven by lower demand in electronics and medical product lines, partially offset by growth in packaging, nonwovens, and optical sensors product lines.

Net income was $117 million, or $2.04 of earnings per diluted share, compared to prior year’s third quarter net income of $128 million, or $2.22 of earnings per diluted share. Adjusted net income was $138 million, a decrease from the prior year adjusted net income of $147 million. Third quarter 2024 adjusted earnings per diluted share were $2.41, a 6% decrease from the prior year adjusted earnings per diluted share of $2.55. The decrease reflects increased interest expense from prior year acquisitions and slightly lower overall operating margins.

EBITDA in the third quarter was $208 million, or 31% of sales, compared to prior year EBITDA of $208 million, or 32% of sales. EBITDA was flat as improved gross margins were offset by higher selling and administrative expenses, including the first-year effect of the ARAG acquisition.

Commenting on the Company’s fiscal 2024 third quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “We delivered third quarter revenue in line with our expectations, driven by strong organic growth in our industrial product lines. Our Advanced Technology Solutions segment sequentially grew compared to second quarter, as order entry steadily improves in electronics end markets. Across the company, the teams executed another solid operating performance delivering strong gross margins and 31% EBITDA margin. Overall, I am pleased with our focus on the customer while managing profitability well against headwinds in select businesses.”

Third Quarter Segment Results

Industrial Precision Solutions sales of $371 million increased 10% from the prior year, inclusive of a favorable acquisition impact of 7%, an organic sales increase of 4% and unfavorable currency translation of 1%. The organic sales increase was driven primarily by packaging and nonwovens product lines. Operating profit was $118 million, an increase of $3 million from the prior year. EBITDA in the quarter was $135 million, or 36% of sales, a 10% increase from the prior year third quarter EBITDA of $122 million, or 36% of sales. The year-over-year increase was driven by the ARAG acquisition, and higher organic sales and gross profit.

Medical and Fluid Solutions sales of $167 million decreased 2% compared to the prior year third quarter. The decrease was driven by lower demand in interventional solutions and fluid components product lines. Operating profit was $48 million, a decrease of $6 million from the prior year. EBITDA in the quarter was $62 million, or 37% of sales, down versus the prior year third quarter EBITDA of $68 million, or 40% of sales.

Advanced Technology Solutions sales of $124 million decreased 11% compared to the prior year third quarter, driven by lower organic sales and unfavorable currency translation of 1%. While sequentially higher, the organic sales decrease compared to prior year was driven by softness in electronics processing and x-ray and test product lines, offset by growth in optical sensors product lines. Operating profit was $23 million, a decrease of $4 million from the prior year. EBITDA in the quarter was $26 million, or 21% of sales, a decrease from the prior year third quarter EBITDA of $33 million, or 24% of sales.

Outlook

The Company is entering the fourth quarter of fiscal 2024 with approximately $650 million in backlog, which continues to normalize and remain concentrated in systems businesses. Based on current visibility and order entry trends, the Company is increasing its full-year revenue guidance range to $2,665 million - $2,705 million, inclusive of revenue from the Atrion acquisition in the fiscal fourth quarter. The Company is tightening full-year adjusted earnings per diluted share to the range of $9.45 - $9.65, unchanged at the midpoint, though now inclusive of the slightly dilutive Atrion impact in the fiscal fourth quarter.

Reflecting on the outlook, Nagarajan continued, “Throughout 2024, we have remained focused on delivering high quality operating performance in a dynamic environment. The diversification of our product portfolio, geographic exposure, mix of recurring revenue, in addition to the NBS Next growth framework and the contributions of our recent acquisitions, are positioning us well to end the year in line with record fiscal 2023 revenue. I remain pleased with our ability to manage profitability during this period, while remaining invested in the long-term objectives of the business.”

Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, August 22, 2024 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com.

The Company’s definition of adjusted earnings excludes acquisition related amortization for both current and historical periods. It is not possible for the Company to identify the amount or significance of future adjustments associated with acquisition and integration costs, restructuring costs, acquisition-related amortization, certain non-operating or income tax items, or other non-routine costs that the Company adjusts in the presentation of adjusted earnings guidance. These items are dependent on future events that are not reasonably estimable at this time. Accordingly, the Company is unable to reconcile without unreasonable effort the forecasted range of adjusted earnings guidance to a comparable GAAP range.

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflict between Russia and Ukraine, acts of terror, natural disasters and pandemics, including the recent coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release.

Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com, linkedin/Nordson, or www.facebook.com/nordson.

Nordson Corporation Reports Fourth Quarter and Record Fiscal Year 2023 Results

Source: Business Wire
Fourth Quarter:

Sales were $719 million, a 5% increase over prior year
Operating profit was $185 million
EBITDA was a quarterly record of $227 million, 32% of sales
Earnings per diluted share were $2.22
Adjusted earnings per diluted share were $2.46
Full Year:

Record sales of $2.6 billion, reflecting 2% growth over last year’s record sales
EBITDA was a record $819 million, 31% of sales
Earnings per diluted share were $8.46
Adjusted earnings per diluted share were $9.03
2024 Guidance:

Fiscal 2024 forecasted sales growth of 4% to 9% and adjusted earnings in the range of 1% to 8% growth over fiscal 2023
Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal fourth quarter ended October 31, 2023. Sales were $719 million, a 5% increase compared to the prior year’s fourth quarter sales of $684 million. The increase in fourth quarter 2023 sales included the favorable 7% impact of acquisitions and favorable currency translation of 1%, offset by an organic decrease of 3%. The organic sales decrease was driven by electronics dispense and biopharma product lines, offset by strong growth in medical interventional solutions, industrial coatings and polymer processing product lines.

Operating profit in the quarter was $185 million, or 26% of sales. Adjusted operating profit, excluding $11 million in non-recurring acquisition costs, totaled $196 million, or 27% of sales. This was a 10% increase compared to prior year adjusted operating profit of $178 million. EBITDA in the quarter totaled a record $227 million, or 32% of sales, and represents an increase of 12% from the prior year EBITDA of $202 million.

Net income was $128 million, or earnings per diluted share of $2.22. Adjusted net income was $142 million, excluding $7 million of non-recurring financing costs related to the ARAG acquisition. Fourth quarter 2023 adjusted earnings per diluted share were $2.46 compared to prior year adjusted earnings per diluted share of $2.44. The increase was driven by higher sales, offset by higher interest expense.

Commenting on the Company’s fiscal 2023 fourth quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “The diversification of Nordson’s precision technology portfolio and the progress of the Ascend strategy shined through again this quarter. Our medical interventional solutions and several industrial precision product lines delivered double-digit growth in the quarter, while demand weakness in electronics and biopharma end markets persisted as expected. Throughout this dynamic year, our winning teams have remained focused on meeting the needs of our customers. They demonstrated an owner mindset and responded rapidly over the course of the year to changing market conditions. This led to total company performance exceeding our incremental profit targets. I am also very pleased with the integration progress of our recent ARAG acquisition, which contributed favorably to the fourth quarter results.”

Fourth Quarter Segment Results

Industrial Precision Solutions sales of $405 million increased 14% compared to the prior year fourth quarter, driven by a 4% organic sales increase, a favorable acquisition impact of 7%, and a favorable currency impact of 2%. The organic sales increase was driven by record sales in our packaging, industrial coating and polymer processing product lines, largely driven by strong system sales in the Americas and Asia Pacific. Adjusted operating profit, which excludes non-recurring charges related to the ARAG acquisition, totaled $136 million in the quarter, or 34% of sales, an increase of 23% compared to the prior year operating profit. The increase in operating profit was driven by higher sales and improved sales mix.

Medical and Fluid Solutions sales of $169 million decreased 7% compared to the prior year fourth quarter, driven by an organic sales decrease of 8% that was partially offset by a favorable currency impact of 1%. The organic sales decrease was driven by continued softness in medical fluid components and fluid solutions product lines, partially offset by double-digit growth in our medical interventional solutions product lines. Operating profit totaled $48 million in the quarter, or 28% of sales, a decrease of 7% compared to the prior year operating profit due to lower sales volumes.

Advanced Technology Solutions sales of $145 million decreased 1% compared to the prior year fourth quarter, driven by an organic sales decrease of 16% that was principally offset by a favorable acquisition impact of 15% and a favorable currency impact of 1%. The organic sales decline was primarily driven by continued softness in our electronic dispense product lines, which serves the cyclical semiconductor end markets. Operating profit totaled $32 million in the quarter, or 22% of sales, a decrease of 16% compared to the prior year operating profit due to lower organic sales volume.

Fiscal 2023 Full Year Results

Sales for the fiscal year ended October 31, 2023, were a record $2.6 billion, an increase of 2% compared to the prior year. This sales growth was driven by a favorable acquisition impact of 4%, partially offset by a 1% decrease in organic volume and an unfavorable currency impact of 1%. Full year operating profit was $673 million. Net income was $487 million and diluted earnings per share were $8.46.

Adjusted operating profit, excluding $34 million in non-recurring costs, was $707 million, or 27% of sales, comparable to prior year adjusted operating profit of $707 million. EBITDA totaled a record $819 million, or 31% of sales. Adjusted diluted earnings per share were $9.03, a 4% decrease from the prior year earnings per diluted share of $9.43, primarily due to higher interest expense.

Reflecting on fiscal 2023, Mr. Nagarajan continued, “In 2021, we launched our Ascend strategy with the milestone of achieving $3 billion in annual sales and greater than 30% EBITDA margins by 2025. As we complete the third year of our strategy, we are on track toward achieving this objective. This is our third consecutive year of record sales, demonstrating the execution of the NBS Next growth framework, exciting acquisitions reflecting our strategic capital deployment, entrepreneurial owner mindset and the continued development of winning teams at every level of our organization. In fiscal 2024, we are well positioned for the recovery of select end markets and the related incremental earnings power that will come with that growth. The Ascend strategy is creating a scalable, high quality earnings growth engine. I want to thank Nordson’s employees and customers for all of their continued support.”

Outlook

Following three consecutive years of record setting performance and a strong finish to fiscal 2023, we enter fiscal 2024 with approximately $800 million in backlog. The book-to-bill in the fourth quarter and the majority of 2023 was unfavorable as over $200 million in backlog was consumed.

Based on the combination of order entry, backlog and current exchange rates, we anticipate delivering sales growth in the range of 4% to 9% in fiscal 2024 when compared to fiscal 2023. Full year fiscal 2024 adjusted earnings are forecasted in the range of 1% to 8% growth per diluted share.

First quarter fiscal 2024 sales are forecasted in the range of $615 to $640 million with adjusted earnings in the range of $2.00 to $2.10 per diluted share. Starting in fiscal 2024, the Company’s definition of adjusted earnings will exclude acquisition related amortization for both current and historical periods (see the appendix for historical amounts).

Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, December 14, 2023 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. For persons unable to listen to the live broadcast, a replay will be available for 14 days after the event. Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com.

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including conflicts in Europe and the Middle East, acts of terror, natural disasters and pandemics, including the recent coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release.

Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com, www.twitter.com/Nordson_Corp or www.facebook.com/nordson.

Nordson Corporation Reports First Quarter Fiscal 2023 Results and Updates Annual Guidance

Source: Business Wire
First Quarter:

Sales were $610 million, a 1% organic increase over the prior year
Operating profit was $144 million
Adjusted operating profit was $155 million, 25% of sales
Earnings per share were $1.81
Adjusted earnings per share were $1.95 compared to $2.07 in the prior year
Guidance:

Updating previously issued full-year fiscal 2023 guidance: revenue growth of 0% to 3% over record fiscal 2022 and adjusted earnings per diluted share in the range of $8.75 to $9.50 per share
Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal first quarter ended January 31, 2023. Sales were $610 million, comparable to the prior year’s first quarter sales of $609 million. The increase in first quarter 2023 sales includes an organic increase of 1% and a favorable acquisition impact of 3%, offset by unfavorable currency translation of 4%. The organic sales increase was driven by strong 9% combined growth in Europe and the Americas, partially offset by weakness in Asia Pacific, predominantly China.

Operating profit in the first quarter was $144 million. Adjusted operating profit, excluding transaction fees, severance and non-cash inventory charges associated with the CyberOptics acquisition, totaled $155 million, or 25% of sales, compared to prior year adjusted operating profit of $157 million. The operating profit, similar to sales, was comparable to the prior year as favorable organic and acquisitive growth was offset by an unfavorable 6% headwind from currency translation. EBITDA for the first quarter of 2023 totaled $181 million, or 30% of sales.

Net income was $104 million, or $1.81 earnings per diluted share. Adjusted net income was $112 million, a $9 million decrease from the prior year earnings of $122 million. The decrease was driven by increased interest expense and foreign currency losses. First quarter 2023 adjusted earnings per diluted share were $1.95, a 6% decrease over the prior year adjusted earnings per diluted share of $2.07.

“First quarter results were in line with our expectations. Our team delivered sales growth comparable to a record fiscal first quarter 2022 despite unfavorable currency headwinds, the timing of the Chinese New Year, and the unexpected negative impact from the spread of COVID-19 in China. Growth was driven by the benefits of our CyberOptics acquisition, as well as solid demand in industrial and medical interventional solutions product lines. The diversity of our geographies and product lines in Europe and Americas, as well as our steadfast dedication to advancing the NBS Next growth framework and responding to the needs of our customers, continues to deliver high quality business performance in dynamic market conditions,” said Sundaram Nagarajan, president and chief executive officer.

First Quarter Segment Results

Industrial Precision Solutions sales of $312 million represents a constant currency growth of 1% over the prior year, offset by unfavorable currency translation impacts. The organic growth of 1% was driven primarily by steady demand across most product lines and regions, offset by softness in the Asia Pacific region due to labor shortages from the spread of COVID-19, as well as the timing of Chinese New Year. Operating profit in the quarter was $102 million, or 33% of sales, comparable to the prior year first quarter.

Medical and Fluid Solutions sales of $154 million decreased 3% compared to the prior year first quarter. Organic sales decreased 1% and currency had an unfavorable impact of 2%. The organic sales decrease was driven by significant softness in the medical fluid components product lines and fluid solutions product lines in China, offset by strong demand for medical interventional solutions product lines. Operating profit totaled $39 million, or 26% of sales, a decrease of 20% compared to the prior year first quarter operating profit. The decreased segment profitability resulted from meaningful sales mix changes within medical product lines and related individual factory inefficiencies due to reduced volumes.

Advanced Technology Solutions sales of $145 million increased 14% compared to the prior year first quarter. Sales benefited from the acquisition impact of 14% and an increase in organic sales of 5%, partially offset by an unfavorable currency impact of 4%. The organic sales increase was driven by test and inspection product lines. Operating profit totaled $17 million. Adjusted operating profit, excluding non-cash inventory and other acquisition-related charges, totaled $27 million, or 19% of sales, which was comparable to the prior year first quarter operating profit. Improvements in profit from the acquisition were offset by unfavorable changes in sales mix and a 5% currency translation headwind.

Outlook

While the backlog remains robust at approximately $1 billion, the backlog is not consistent across the different businesses and is heavily weighted toward systems and medical interventional solutions. Order entry in recent weeks has decreased from the previous run rate and several customers have been pushing delivery dates out into the second half of fiscal 2023. Based on our current visibility, the Company is updating its previously issued full-year revenue growth guidance to 0% to 3% over record fiscal 2022 and narrowing its adjusted earnings guidance to the range of $8.75 to $9.50.

Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Tuesday, February 21, 2023, at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. For persons unable to listen to the live broadcast, a replay will be available for 14 days after the event. Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com.

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflict between Russia and Ukraine, acts of terror, natural disasters and pandemics, including the coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release.

Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com, www.twitter.com/Nordson_Corp or www.facebook.com/nordson.

NORDSON CORPORATION

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(Dollars in thousands except for per-share amounts)




Three Months Ended



January 31,
2023



January 31,
2022

Sales

$

610,477





$

609,166



Cost of sales



281,610







269,032



Gross profit



328,867







340,134



Gross margin %



53.9

%





55.8

%









Selling & administrative expenses



184,648







184,274



Operating profit



144,219







155,860











Interest expense - net



(9,943

)





(5,185

)

Other income (expense) - net



(3,196

)





1,292



Income before income taxes



131,080







151,967











Income taxes



26,819







31,558











Net income

$

104,261





$

120,409











Weighted-average common shares outstanding:







Basic



57,170







58,152



Diluted



57,762







58,819











Earnings per share:







Basic earnings

$

1.82





$

2.07



Diluted earnings

$

1.81





$

2.05



NORDSON CORPORATION

CONSOLIDATED BALANCE SHEETS (Unaudited)

(Dollars in thousands)




January 31, 2023



October 31, 2022

Cash and cash equivalents

$

121,994



$

163,457

Receivables - net



546,649





537,313

Inventories - net



447,727





383,398

Other current assets



62,046





48,803

Total current assets



1,178,416





1,132,971









Property, plant & equipment - net



361,447





353,442

Goodwill



2,107,113





1,804,693

Other assets



590,447





529,269



$

4,237,423



$

3,820,375









Current maturities of long-term debt and notes payable

$

420,947



$

392,537

Accounts payable and accrued liabilities



404,514





441,666

Total current liabilities



825,461





834,203









Long-term debt



595,166





345,320

Other liabilities



370,111





346,477

Total shareholders' equity



2,446,685





2,294,375



$

4,237,423



$

3,820,375

NORDSON CORPORATION

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

(Dollars in thousands)




Three Months Ended



January 31,
2023



January 31,
2022

Cash flows from operating activities:







Net income

$

104,261





$

120,409



Depreciation and amortization



26,434







25,390



Other non-cash items



6,224







11,023



Changes in working capital



(58,371

)





(29,217

)

Other



44,789







(9,518

)

Net cash provided by operating activities



123,337







118,087











Cash flows from investing activities:







Additions to property, plant and equipment



(9,302

)





(12,491

)

Acquisition of businesses, net of cash acquired



(377,843

)





(171,613

)

Other - net



9







7



Net cash used in investing activities



(387,136

)





(184,097

)









Cash flows from financing activities:







Issuance (repayment) of long-term debt



252,278







(1,257

)

Repayment of finance lease obligations



(1,318

)





(1,640

)

Dividends paid



(37,199

)





(29,724

)

Issuance of common shares



8,807







5,721



Purchase of treasury shares



(6,875

)





(35,002

)

Net cash provided (used) in financing activities



215,693







(61,902

)









Effect of exchange rate change on cash:



6,643







(1,521

)

Net change in cash and cash equivalents



(41,463

)





(129,433

)









Cash and cash equivalents:







Beginning of period



163,457







299,972



End of period

$

121,994





$

170,539



NORDSON CORPORATION

SALES BY GEOGRAPHIC SEGMENT (Unaudited)

(Dollars in thousands)




Three Months Ended



Sales Variance



January 31,
2023



January 31,
2022



Organic



Acquisitions



Currency



Total

SALES BY SEGMENT























Industrial precision solutions

$

311,546



$

323,933



1.2

%



—

%



(5.0

) %



(3.8

) %

Medical and fluid solutions



154,287





158,784



(0.8

) %



—

%



(2.0

) %



(2.8

) %

Advanced technology solutions



144,644





126,449



4.6

%



13.5

%



(3.7

) %



14.4

%

Total sales

$

610,477



$

609,166



1.4

%



2.8

%



(4.0

) %



0.2

%

























SALES BY GEOGRAPHIC REGION























Americas

$

264,878



$

239,901



8.6

%



2.1

%



(0.3

) %



10.4

%

Europe



162,939





155,985



10.7

%



1.3

%



(7.5

) %



4.5

%

Asia Pacific



182,660





213,280



(13.3

) %



4.7

%



(5.8

) %



(14.4

) %

Total sales

$

610,477



$

609,166



1.4

%



2.8

%



(4.0

) %



0.2

%

NORDSON CORPORATION

RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED OPERATING PROFIT AND EBITDA (Unaudited)

(Dollars in thousands)




Three Months Ended



January 31, 2023



January 31, 2022

SALES BY SEGMENT















Industrial precision solutions

$

311,546









$

323,933







Medical and fluid solutions



154,287











158,784







Advanced technology solutions



144,644











126,449







Total sales

$

610,477









$

609,166























OPERATING PROFIT















Industrial precision solutions

$

102,319









$

102,187







Medical and fluid solutions



39,384











49,093







Advanced technology solutions



16,963











27,234







Corporate



(14,447

)









(22,654

)





Total operating profit

$

144,219









$

155,860























OPERATING PROFIT ADJUSTMENTS (1)













Industrial precision solutions

$

—









$

1,563







Advanced technology solutions



10,295











—







Total adjustments

$

10,295









$

1,563























ADJUSTED OPERATING PROFIT (NON-GAAP) (2)





% of Sales







% of Sales

Industrial precision solutions

$

102,319





33

%



$

103,750





32

%

Medical and fluid solutions



39,384





26

%





49,093





31

%

Advanced technology solutions



27,258





19

%





27,234





22

%

Corporate



(14,447

)









(22,654

)





Total operating profit - adjusted

$

154,514





25

%



$

157,423





26

%

















DEPRECIATION & AMORTIZATION













Industrial precision solutions

$

6,845









$

7,442







Medical and fluid solutions



13,625











13,547







Advanced technology solutions



3,812











2,263







Corporate



2,152











2,138







Total depreciation & amortization

$

26,434









$

25,390























EBITDA (NON-GAAP) (2)















Industrial precision solutions

$

109,164





35

%



$

111,192





34

%

Medical and fluid solutions



53,009





34

%





62,640





39

%

Advanced technology solutions



31,070





21

%





29,497





23

%

Corporate



(12,295

)









(20,516

)





Total EBITDA

$

180,948





30

%



$

182,813





30

%

(1)

Represents fees, severance and non-cash inventory charges associated with acquisitions.

(2)

Adjusted operating profit and EBITDA are non-GAAP measures used by management to evaluate the Company's ongoing operations. Adjusted operating profit is defined as operating profit plus certain adjustments, such as fees, severance and non-cash inventory charges associated with acquisitions. EBITDA is defined as adjusted operating profit plus depreciation and amortization.

NORDSON CORPORATION

RECONCILIATION OF NON-GAAP MEASURES - PROFITABILITY (Unaudited)

(Dollars in thousands)




Three Months Ended



January 31, 2023



January 31, 2022

GAAP AS REPORTED







Operating profit

$

144,219





$

155,860



Other / interest expense - net



(13,139

)





(3,893

)

Net income



104,261







120,409



Diluted earnings per share

$

1.81





$

2.05











Shares outstanding - diluted



57,762







58,819











OPERATING PROFIT ADJUSTMENTS







Inventory step-up amortization

$

4,306





$

1,563



Severance and other



5,989







—











Total adjustments

$

10,295





$

1,563











Adjustments net of tax

$

8,189





$

1,238



EPS effect of adjustments and other discrete tax items

$

0.14





$

0.02











NON-GAAP MEASURES-ADJUSTED PROFITABILITY







Operating profit (1)

$

154,514





$

157,423



Operating profit % of sales



25.3

%





25.8

%

Net income (2)

$

112,450





$

121,647



Diluted earnings per share (3)

$

1.95





$

2.07



(1)

Adjusted operating profit is defined as operating profit plus certain adjustments, such as fees, severance, and non-cash inventory charges related to acquisitions. Adjusted operating profit as a percentage of sales is defined as adjusted operating profit divided by sales.

(2)

Adjusted net income is defined as net income plus tax effected adjustments and other discrete tax items.

(3)

Adjusted earnings per share is defined as GAAP EPS adjusted for tax effected adjustments and other discrete tax items.

The Company also uses the non-GAAP financial measure “constant currency” sales or sales “on a constant currency basis” to show changes in our revenue without giving effect to period-to-period currency fluctuations. Constant currency is defined as sales growth excluding the impacts of changes in foreign currencies. We express period over period revenue variances that are calculated in constant currency as a percentage. Because the reconciliation is inherent in the disclosure, we believe that a separate reconciliation would not provide any benefit.

Management uses these non-GAAP measures internally to make strategic decisions, forecast future results, and evaluate the Company's current performance. Given management's use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in the Company's core business across different time periods. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to other companies' non-GAAP financial measures, even if they have similar names. Amounts may not add due to rounding.


View source version on businesswire.com: https://www.businesswire.com/news/home/20230220005225/en/

Lara Mahoney
Vice President, Investor Relations & Corporate Communications
440.204.9985
Lara.Mahoney@nordson.com

JUST IN: $NDSN Nordson $NDSN Trading Report

The Nordson (NASDAQ: NDSN) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for NDSN, and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was publish...

Find out more NDSN - Nordson $NDSN Trading Report

$NDSN Don't hold much optimism in Nordson on Global Worries

In the past few weeks, the rose tinted glasses have come off investors and selling has intensified, in particular companies with exposure worldwide and in China have been hardest hit. In NDS NASDAQ:NDSN last earnings report it missed on the top and bottom line. We do not see much reason to expect anything different this time round, the company has increased the dividend but that has not abated the selling which is clearly evident in the OBV indicator which has very BEARISH divergences. We will not be entering the name but may go short if the channel breaks down.

Analysts average rating Hold
Analysts average price target $146

great SHORT opp and here is why

this $8.5 BILLION BUBBLE JUNK HAS MONSTER DEBT OF $1.7 BILLION AND A LAUGHABLE BOOK VALUE OF JUST $18.80 this bubble stock should trade closer to the book value so around $23-25 AT MAX .

Nice bounce after hours

Nice bounce after hour

Nordson is expected to report on Tuesday while nine separate valuation analyses imply the stock’s approximately 25% overvalued. All nine models imply a fair value below the company's current share price which has doubled within the last year.

Earnings Analysis

NDSN New$ Nordson ASYMTEK Introduces Continuous Path Motion Control Software


2013-07-22 08:06 ET - News Release


Improves dispensing speed for underfilling flip chips


Company Website: http://www.nordsonasymtek.com
CARLSBAD, Calif. -- (Business Wire)

Nordson ASYMTEK, a Nordson company (NASDAQ:NDSN), a leader in dispensing, coating, and jetting technologies, has developed Continuous Path Motion Control software for jetting underfill for flip chips. The software optimizes dispense head motion,saving time and increasing units per hour (UPH). Instead of stopping to move between die, backtracking, ramping to speed, dispensing, and decelerating, the dispense head maintains a continuous speed and direction throughout the process.

When cycle time test data of 20 strips with 70 die on a strip was evaluated using Continuous Path Motion Control as compared to conventional underfill methods that use backtracking, there was about a 27% improvement in UPH with Continuous Path. This was due to a 40% dispensing cycle time savings at 15mg/sec flow rate and 95mm/sec speed. (This doesn’t include loading and unloading.) The Continuous Path increases UPH even when compared to underfill methods that don’t include backtracking because stop-and-go movements between the die are eliminated. Continuous Path Motion Control software saves 23% dispensing cycle time at 9mg/sec flow rate depending on actual die layout, dispensing conditions, flow rate, and other factors.

“An expanding number of applications are using flip chip package devices with rigid substrates and parts that are smaller and closer together,” explained Akira Morita, product development manager, Nordson ASYMTEK. “These devices have different configurations in terms of die size, die thickness, bump numbers, bump pitch, bump gap, and substrate size. This changes the amount of underfill needed and the fluid flow speed (bump gaps and die thicknesses are different). A thinner line of fluid has to be deposited because the space between the die is narrower. Continuous Path Motion Control speeds up the dispensing process for these new applications.”

Read the article “Underfilling Using Continuous Path Motion Control” and see a video showing the increased speed you get from Continuous Path Motion Control at: http://www.nordson.com/en-us/divisions/asymtek/products/Software/Pages/Continuous-Path-Motion-Control.aspx?

Photo Available at:http://www.nordson.com/en-us/divisions/asymtek/PublishingImages/PR/High-Res/NordsonASYMTEK-Continuous-Path-Motion-Control.jpg

About Nordson ASYMTEK

Nordson ASYMTEK, a world leader in precision automated fluid dispensing, conformal coating, and jetting technologies, designs and manufactures dispensing and coating systems, supported by an award-winning global applications and service network. Celebrating over 30 years in business, Nordson ASYMTEK is continually recognized for innovative equipment and excellent service, and is ISO 9001 certified. The company offers advanced dispensing solutions for precision assembly processes, including semiconductor packaging, printed circuit boards, LEDs, flat panel displays, medical and biotechnical devices, and solar and photovoltaic products. To find out more, visit www.NordsonASYMTEK.com, Facebook.com/NordsonASYMTEK or Twitter.com/NordsonASYMTEK.

About Nordson Corporation

Nordson Corporation (NASDAQ: NDSN) delivers precision technology solutions that help customers increase speed, productivity and up-time, enable new products and features, and decrease material usage. The company engineers, manufactures and markets differentiated products and systems used for dispensing adhesives, coatings, sealants, biomaterials and other materials, fluid management, testing and inspection, and UV curing and surface plasma treatment, all supported by application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in more than 30 countries. Visit Nordson at www.nordson.com, twitter.com/Nordson_Corp, or Facebook.com/Nordson.


Contacts:

Nordson ASYMTEK Headquarters:
Roberta Foster-Smith, +1-760-431.1919
roberta.foster-smith@nordsonasymtek.com
or
Agency Contact:
A R Marketing, Inc.
Andrea Roberts, +1-858-451-8666
andrea@armarketinginc.com
or
International Offices:
Headquarters: 2747 Loker Ave. West, Carlsbad, CA 92010 USA
Tel: +1 760 431 1919 www.nordsonasymtek.com
China: +86 21 3866 9166 www.nordsonasymtek.com/cn
Europe: +31 43 352 4466
India: +91 44 4353 9024
Japan: +81 3 5762 2801 www.nordsonasymtek.com/jp
Korea: + 82 31 765 8337 www.nordsonasymtek.com/kr
Southeast Asia: +65 6796 9515
Taiwan: +886 2 2902 1860

NDSN New$ Nordson ASYMTEK Introduces Continuous Path Motion Control Software


2013-07-22 08:06 ET - News Release


Improves dispensing speed for underfilling flip chips


Company Website: http://www.nordsonasymtek.com
CARLSBAD, Calif. -- (Business Wire)

Nordson ASYMTEK, a Nordson company (NASDAQ:NDSN), a leader in dispensing, coating, and jetting technologies, has developed Continuous Path Motion Control software for jetting underfill for flip chips. The software optimizes dispense head motion,saving time and increasing units per hour (UPH). Instead of stopping to move between die, backtracking, ramping to speed, dispensing, and decelerating, the dispense head maintains a continuous speed and direction throughout the process.

When cycle time test data of 20 strips with 70 die on a strip was evaluated using Continuous Path Motion Control as compared to conventional underfill methods that use backtracking, there was about a 27% improvement in UPH with Continuous Path. This was due to a 40% dispensing cycle time savings at 15mg/sec flow rate and 95mm/sec speed. (This doesn’t include loading and unloading.) The Continuous Path increases UPH even when compared to underfill methods that don’t include backtracking because stop-and-go movements between the die are eliminated. Continuous Path Motion Control software saves 23% dispensing cycle time at 9mg/sec flow rate depending on actual die layout, dispensing conditions, flow rate, and other factors.

“An expanding number of applications are using flip chip package devices with rigid substrates and parts that are smaller and closer together,” explained Akira Morita, product development manager, Nordson ASYMTEK. “These devices have different configurations in terms of die size, die thickness, bump numbers, bump pitch, bump gap, and substrate size. This changes the amount of underfill needed and the fluid flow speed (bump gaps and die thicknesses are different). A thinner line of fluid has to be deposited because the space between the die is narrower. Continuous Path Motion Control speeds up the dispensing process for these new applications.”

Read the article “Underfilling Using Continuous Path Motion Control” and see a video showing the increased speed you get from Continuous Path Motion Control at: http://www.nordson.com/en-us/divisions/asymtek/products/Software/Pages/Continuous-Path-Motion-Control.aspx?

Photo Available at:http://www.nordson.com/en-us/divisions/asymtek/PublishingImages/PR/High-Res/NordsonASYMTEK-Continuous-Path-Motion-Control.jpg

About Nordson ASYMTEK

Nordson ASYMTEK, a world leader in precision automated fluid dispensing, conformal coating, and jetting technologies, designs and manufactures dispensing and coating systems, supported by an award-winning global applications and service network. Celebrating over 30 years in business, Nordson ASYMTEK is continually recognized for innovative equipment and excellent service, and is ISO 9001 certified. The company offers advanced dispensing solutions for precision assembly processes, including semiconductor packaging, printed circuit boards, LEDs, flat panel displays, medical and biotechnical devices, and solar and photovoltaic products. To find out more, visit www.NordsonASYMTEK.com, Facebook.com/NordsonASYMTEK or Twitter.com/NordsonASYMTEK.

About Nordson Corporation

Nordson Corporation (NASDAQ: NDSN) delivers precision technology solutions that help customers increase speed, productivity and up-time, enable new products and features, and decrease material usage. The company engineers, manufactures and markets differentiated products and systems used for dispensing adhesives, coatings, sealants, biomaterials and other materials, fluid management, testing and inspection, and UV curing and surface plasma treatment, all supported by application expertise and direct global sales and service. Nordson serves a wide variety of consumer non-durable, durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing. Founded in 1954 and headquartered in Westlake, Ohio, the company has operations and support offices in more than 30 countries. Visit Nordson at www.nordson.com, twitter.com/Nordson_Corp, or Facebook.com/Nordson.


Contacts:

Nordson ASYMTEK Headquarters:
Roberta Foster-Smith, +1-760-431.1919
roberta.foster-smith@nordsonasymtek.com
or
Agency Contact:
A R Marketing, Inc.
Andrea Roberts, +1-858-451-8666
andrea@armarketinginc.com
or
International Offices:
Headquarters: 2747 Loker Ave. West, Carlsbad, CA 92010 USA
Tel: +1 760 431 1919 www.nordsonasymtek.com
China: +86 21 3866 9166 www.nordsonasymtek.com/cn
Europe: +31 43 352 4466
India: +91 44 4353 9024
Japan: +81 3 5762 2801 www.nordsonasymtek.com/jp
Korea: + 82 31 765 8337 www.nordsonasymtek.com/kr
Southeast Asia: +65 6796 9515
Taiwan: +886 2 2902 1860

Someone Please tell me why the price of NDSN dropped to 70.50 after market hours on a positive news ? It is ridiculous.

http://news.thomasnet.com/companystory/Nordson-ASYMTEK-s-Precision-Conformal-Coating-Applicator-Wins-Two-Technology-Innovation-Awards-615378

~ Thursday! $NDSN ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $NDSN ~ Earnings expected on Thursday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=NDSN&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=NDSN&p=W&b=3&g=0&id=p54550695994



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~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=NDSN#
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~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=NDSN
Finviz: http://finviz.com/quote.ashx?t=NDSN
~ BusyStock: http://busystock.com/i.php?s=NDSN&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=NDSN >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

NDSN Nordson Corporation is a manufacturer of equipment used for precision material dispensing, testing and inspection, surface preparation and curing. Its technology-based systems can be found in production facilities globally. It serves diverse markets, including the appliance, automotive, bookbinding, container, converting, electronics, food and beverage, furniture, life sciences and medical, light emitting diodes (LED), metal finishing, nonwoven, packaging, semiconductor and solar energy industries. Its products are marketed through a network of direct operations in more than 30 countries. The Company operates in three segments: Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems. On January 5, 2010, it completed the acquisition of G L T Gesellschaft fur Lottechnik mbH (GLT), a German distributor of Nordson EFD dispensing systems and related products. In July 2011, it acquired Verbruggen NV.

http://www.google.com/finance?q=NDSN