Nordson Corp (NDSN) Q2 Earnings Miss Analyst Estimates, Updates Annual Guidance
On May 20, 2024, Nordson Corp (NDSN, Financial) released its 8-K filing reporting its fiscal second-quarter results for the period ending April 30, 2024. Nordson, a manufacturer of precision dispensing equipment, serves diverse markets including packaging, medical, electronics, and industrial sectors. The company operates through three segments: Industrial Precision Solutions, Medical and Fluid Solutions, and Advanced Technology Solutions. Nordson Corp (NDSN, Financial) reported sales of $651 million for the second quarter, slightly above the prior year's $650 million. However, this figure fell short of the analyst estimate of $661.41 million. The company's net income was $118 million, translating to earnings per diluted share of $2.05, which also missed the analyst estimate of $2.24. Adjusted earnings per diluted share were $2.34, down from $2.45 in the prior year. The Industrial Precision Solutions segment saw a 9% increase in sales to $367 million, driven by acquisitions and a 2% organic sales increase. The Medical and Fluid Solutions segment reported a modest 2% increase in sales to $169 million. However, the Advanced Technology Solutions segment experienced a significant 22% decline in sales to $115 million, primarily due to ongoing pressure in electronics product lines. Despite the challenges, Nordson maintained a strong EBITDA margin of 31%, consistent with the prior year. The company's gross margin improved to 56.2% from 54.2%, reflecting efficient cost management. However, increased interest expenses from prior year acquisitions and higher selling and administrative expenses impacted overall profitability. Nordson's balance sheet remains robust with total assets of $5.17 billion and shareholders' equity of $2.79 billion. The company reported cash and cash equivalents of $125.4 million, up from $115.7 million at the end of fiscal 2023. Operating cash flow for the first six months of fiscal 2024 was $295 million, reflecting strong operational efficiency. Nordson updated its full-year fiscal 2024 revenue guidance to a range of flat to 2% growth over fiscal 2023, with adjusted earnings per diluted share expected to be between $9.35 and $9.75. For the third quarter, the company forecasts sales between $645 million and $670 million, with adjusted earnings per diluted share ranging from $2.25 to $2.40. For more detailed insights and analysis, visit the full 8-K filing. Explore the complete 8-K earnings release (here) from Nordson Corp for further details.
Nordson Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Analysts expect the Westlake, Ohio-based company to report quarterly earnings at $2.31 per share, up from $2.26 per share in the year-ago period. Nordson is projected to report quarterly revenue of $661.41 million, according to data from Benzinga Pro. Nordson announced the appointment of Daniel Hopgood as Executive Vice President and Chief Financial Officer, effective May 20. Nordson shares rose 0.4% to close at $271.65 on Friday. Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables. Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period. DA Davidson analyst Matt Summerville maintained a Buy rating and raised the price target from $290 to $315 on Feb. 27. This analyst has an accuracy rate of 76%. Keybanc analyst Jeffrey Hammond downgraded the stock from Overweight to Sector Weight on Feb. 26. This analyst has an accuracy rate of 75%. Wells Fargo analyst Allison Poliniak Cusic maintained an Overweight rating and raised the price target from $290 to $315 on Feb. 23. This analyst has an accuracy rate of 70%. Baird analyst Michael Halloran maintained an Outperform rating and boosted the price target from $251 to $253 on Aug. 23, 2023. This analyst has an accuracy rate of 77%. Loop Capital analyst Chris Dankert maintained a Hold rating and cut the price target from $250 to $225 on March 21, 2023. This analyst has an accuracy rate of 78%. Read This Next: Cramer Recommends Buying This Sports Betting Company’s Stock: ‘I Think It’s Terrific‘
Zoom Video, Wix.com And 3 Stocks To Watch Heading Into Monday
With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Li Auto Inc. LI+3.21%Get Free Report to report quarterly earnings at 35 cents per share on revenue of $3.84 billion before the opening bell, according to data from Benzinga Pro. Li Auto shares rose 0.6% to $25.03 in after-hours trading. Analysts are expecting Zoom Video Communications, Inc. ZM+0.34%Get Free Report to post quarterly earnings at $1.20 per share on revenue of $1.13 billion. The company will release earnings after the markets close. Zoom Video shares rose 0.1% to $64.24 in after-hours trading. Wix.com Ltd. WIX+6.86%+ Free Alerts posted upbeat results for its first quarter and raised its 2024 forecast on Monday. Wix.com shares rose 0.9% to $136.94 in the after-hours trading session. After the markets close, Nordson Corporation NDSN+0.25%Get Free Report is projected to projected to post quarterly earnings at $2.31 per share on revenue of $661.41 million. Nordson shares gained 0.4% to close at $271.65 in after-hours trading. Analysts expect Palo Alto Networks, Inc. PANW+0.30%Get Free Report to post quarterly earnings at $1.25 per share on revenue of $1.97 billion after the closing bell. Palo Alto shares rose 0.2% to $318.50 in after-hours trading. Check This Out: Jim Cramer Recommends Buying This Sports Betting Company’s Stock: ‘I Think It’s Terrific‘
Stocks This Week: Buy Palo Alto Networks And Nordson
The coming week is post-OPEX (options expiration week) in May. This has been one of the stronger such weeks among the 12 months of any year since 1985.
What's in the Offing for Nordson (NDSN) This Earnings Season?
Nordson's (NDSN) second-quarter fiscal 2024 results are likely to benefit from solid momentum in the Industrial Precision Solutions segment, partly offset by cost inflation.
