WESTLAKE, Ohio – Nordson (NASDAQ:) Corporation (NASDAQ:NDSN) reported third quarter earnings that exceeded analyst expectations, as the precision technology company saw growth in its industrial product lines offset weakness in electronics and medical markets.
Nordson posted adjusted earnings per share of $2.41 for the quarter ended July 31, beating the consensus estimate of $2.33. Revenue came in at $662 million, topping analyst projections of $656.49 million and up 2% year-over-year.
“We delivered third quarter revenue in line with our expectations, driven by strong organic growth in our industrial product lines,” said CEO Sundaram Nagarajan. He noted the company’s Advanced Technology Solutions segment grew sequentially from Q2 as order activity improves in electronics end markets.
Gross margin expanded to 55.8% from 55.5% last year. EBITDA margin remained solid at 31% of sales.
For the full fiscal year 2024, Nordson raised its revenue guidance to a range of $2.665-$2.705 billion, up from its previous outlook and above the $2.672 billion consensus. The company maintained its adjusted EPS forecast of $9.45-$9.65.
“Throughout 2024, we have remained focused on delivering high quality operating performance in a dynamic environment,” Nagarajan said, citing the company’s diversified portfolio and recent acquisitions as positioning it well to end the year in line with record fiscal 2023 revenue.
Nordson shares closed 3.47% higher Wednesday.
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