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Aug. 20, 2019, 4:53 p.m. EDT

Nordson stock falls on earnings miss, outlook

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By Wallace Witkowski


Nordson Corp. /zigman2/quotes/204377260/composite NDSN +0.52% shares dropped in the extended session Tuesday after the adhesives and materials company missed Wall Street estimates and forecast a rockier-than-expected quarter. Nordson shares fell 7% after hours, following a 1.3% decline in the regular session to close at $135.48. The company reported fiscal third-quarter net income of $93.9 million, or $1.62 a share, compared with $98.4 million, or $1.61 a share, in the year-ago period. Revenue declined to $559.7 million from $581.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.81 a share on revenue of $587.7 million. Nordson said it "now expects flat to modest organic sales growth and unfavorable foreign currency effects of approximately 2 percent on sales as compared to the prior year." Analysts expect annual revenue of $2.24 billion, or 0.8% down from a year ago. "As we approach the end of our fiscal year, the effect of recent macroeconomic trends has had a more significant impact than most anticipated, particularly on electronics end markets," said Michael Hilton, who served as Nordson's president and CEO until July 31, in a statement.

US : U.S.: Nasdaq
$ 223.83
+1.15 +0.52%
Volume: 10,196
July 23, 2021 11:35a
P/E Ratio
Dividend Yield
Market Cap
$12.94 billion
Rev. per Employee

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