UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-7977 NORDSON CORPORATION (Exact name of Registrant as specified in its charter) Ohio (State or other jurisdiction of incorporation or or ...

Nordson Corporation’s (NDSN) fourth-quarter fiscal 2024 (ended Sept. 30, 2024) adjusted earnings of $2.78 per share surpassed the Zacks Consensus Estimate of $2.59. The bottom line increased 2.6% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Quarterly Results of NDSNNordson’s revenues were $744.5 million, up 4% from the year-ago fiscal quarter’s number, driven by solid momentum in the Medical and Fluid Solutions segment. Revenues beat the consensus estimate of $733 ...

Financial Data and Key Metrics - Q4 2024 sales were $744 million, up 4% YoY, driven by 6% growth from acquisitions and 1% favorable currency translation, offset by a 3% decline in organic sales [12] - Adjusted operating profit was $205 million, up 30 bps YoY, with gross margin improving by 110 bps due to factory efficiency gains and a higher mix of parts revenue [14] - Q4 EBITDA increased 6% YoY to a record $241 million, representing 32% of sales, 200 bps above the long-term profitability target [15] - Full-year 2024 sales reached a record $2.7 billion, up 2% YoY, with EBITDA increasing 4% to $849 million, or 32% of sales [24][25] Business Segment Performance Industrial Precision Solutions (IPS) - Q4 sales decreased 3% YoY to $392 million, with organic sales down 5% due to tough YoY comparisons in industrial coatings and polymer processing [19] - EBITDA for the quarter was $143 million, or 37% of sales, reflecting consistent operational performance despite lower sales [19] Medical and Fluid Solutions (MFS) - Q4 sales increased 19% YoY to $200 million, primarily driven by the Atrion acquisition, offset by a 3% decline in organic sales [20] - EBITDA for the quarter was $72 million, or 36% of sales, up 17% YoY, with margins slightly lower due to the inclusion of Atrion [21] Advanced Technology Solutions (ATS) - Q4 sales increased 5% YoY to $152 million, with organic sales up 4%, driven by improvements in test and inspection product lines [22] - EBITDA for the quarter was $41 million, or 27% of sales, up from 24% in the prior year, reflecting improved operational efficiency [23] Market and Strategic Insights - The company's Ascend strategy, launched in 2021, has driven record sales and EBITDA growth, with a focus on innovation, geographic diversification, and recurring revenue [9][10] - The Atrion acquisition expanded the company's addressable market in medical fluid components by over 50%, with strong contributions expected in fiscal 2025 and beyond [33] - The NBS Next growth framework has improved operational efficiency, with ATS achieving 27% EBITDA margins despite being in a downcycle [35][36] Management Commentary on Market Conditions - Management expects muted large capital investments in the near term, particularly in polymer processing and recycling, due to reduced customer backlog and cautious spending [38][39] - Medical device customers are being cautious with inventory purchases, impacting the interventional solutions product line, which represents 47% of MFS sales [40] - The electronics and semiconductor markets are showing signs of stabilization, but a significant ramp in capital spending is not expected in the near term [42] Guidance and Outlook - Full-year 2025 sales are expected to grow 2% to 7% YoY, with adjusted EPS growth forecasted to be neutral to 8% [43] - Q1 2025 sales are projected to be in the range of $615 million to $655 million, with adjusted EPS between $1.95 and $2.15 [45] - The company anticipates a negative 1.5% impact from foreign exchange rates and no significant recovery in electronics or agricultural end markets [44] Q&A Session Highlights Growth Expectations - Management expects flat organic growth for the year, with growth primarily driven by the Atrion acquisition and modest improvements in ATS [55][88] - The company remains cautious about near-term demand, particularly in large system businesses and interventional medical solutions [51][52] Backlog and Order Trends - Backlog at the end of fiscal 2024 was $580 million, with Atrion contributing $35 million [61] - Order patterns in ATS support a return to nominal growth, but significant capital spending is not expected in the near term [58][80] Margin and Cost Efficiency - Factory efficiency gains and cost-cutting measures, including restructuring, are expected to drive incremental margin improvements in fiscal 2025 [100] - Atrion's EBITDA margins are in the upper 20% range, with further improvements expected as integration progresses [72][104] Market Recovery and Geopolitical Impact - Management is not calling for a significant recovery in key markets, with uncertainty around geopolitical issues and customer hesitancy impacting near-term outlooks [66][111] - The company remains well-positioned to navigate a dynamic environment, leveraging its strong operating model and competitive advantages [85][86]

Core Insights - Nordson reported revenue of $744.48 million for the quarter ended October 2024, marking a year-over-year increase of 3.5% and exceeding the Zacks Consensus Estimate by 1.52% [1] - The company's EPS for the same period was $2.78, up from $2.46 a year ago, representing a surprise of 7.34% over the consensus estimate of $2.59 [1] Revenue Performance - Net Sales in Industrial Precision Solutions were $392.15 million, which is a decrease of 3.3% compared to the year-ago quarter and below the average estimate of $407.64 million [3] - Net Sales in Advanced Technology Solutions reached $152.11 million, reflecting a year-over-year increase of 4.7% and surpassing the average estimate of $135.17 million [3] - Net Sales in Medical and Fluid Solutions amounted to $200.22 million, an 18.7% increase year-over-year, exceeding the average estimate of $197.55 million [3] Operating Profit Analysis - Operating profit in Advanced Technology Solutions was $33.46 million, exceeding the average estimate of $25.76 million [3] - Operating profit in Medical and Fluid Solutions was $44.26 million, which fell short of the average estimate of $50.14 million [3] - Operating profit in Industrial Precision Solutions was $126.25 million, below the average estimate of $136.06 million [3] - Corporate operating loss was reported at -$25.09 million, worse than the average estimate of -$18.62 million [3] Stock Performance - Over the past month, Nordson's shares have returned -1.8%, contrasting with the Zacks S&P 500 composite's increase of 0.8% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]

Nordson (NDSN) came out with quarterly earnings of $2.78 per share, beating the Zacks Consensus Estimate of $2.59 per share. This compares to earnings of $2.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.34%. A quarter ago, it was expected that this maker of adhesives and industrial coatings would post earnings of $2.33 per share when it actually produced earnings of $2.41, delivering a surprise of 3.43%.Over the last fo ...

Sales Performance - Fourth quarter sales were $744 million, a 4% increase from $719 million in the prior year[2] - Full year sales reached a record $2.7 billion, reflecting a 2% growth over last year's record sales of $2.628 billion[10] - The Advanced Technology Solutions segment saw a 5% increase in sales to $152 million, driven by a 4% organic sales increase[9] - The Medical and Fluid Solutions segment reported a 19% increase in sales to $200 million, primarily due to the Atrion acquisition[7] - The Industrial Precision Solutions segment experienced a 3% decrease in sales to $392 million, driven by a 5% organic sales decrease[6] - The Industrial Precision Solutions segment reported sales of $1,484,249 thousand for the twelve months ended October 31, 2024, a 6.7% increase from $1,391,046 thousand in 2023[32] - The Medical and Fluid Solutions segment saw a 5.3% increase in sales to $695,452 thousand for the twelve months ended October 31, 2024, compared to $660,316 thousand in the previous year[32] - Total sales for the three months ended October 31, 2024, were $744,482 thousand, representing a 3.5% increase compared to $719,313 thousand for the same period in 2023[32] - The industrial precision solutions segment reported sales of $392,150 thousand for the three months ended October 31, 2024, a decrease of 3.3% from $405,436 thousand in the same period last year[38] - Medical and fluid solutions segment sales increased to $200,223 thousand, up 18.7% from $168,632 thousand in the prior year[38] - Advanced technology solutions segment sales were $152,109 thousand, a 4.0% increase from $145,245 thousand in the same period last year[38] Earnings and Profitability - Adjusted earnings per diluted share for the fourth quarter were $2.78, up from $2.71 in the prior year[3] - Full year adjusted earnings per diluted share were $9.73, compared to $9.85 in the prior year[11] - Operating profit for the three months ended October 31, 2024, was $178,892 thousand, down 3.1% from $185,039 thousand in the prior year[38] - Adjusted net income for the three months ended October 31, 2024, was $160,239 thousand, compared to $156,025 thousand for the same period in 2023, reflecting a 1.4% increase[42] - Diluted earnings per share for the three months ended October 31, 2024, were $2.12, a decrease from $2.22 in the same period last year[42] Cash Flow and Financial Position - Cash flows from operating activities for the twelve months ended October 31, 2024, totaled $556,193 thousand, a decrease of 13.3% from $641,282 thousand in 2023[29] - The company’s cash and cash equivalents at the end of the period were $115,952 thousand, slightly up from $115,679 thousand at the beginning of the period[29] - Free cash flow for the year to date as of October 31, 2024, was $491,783 thousand, compared to $416,026 thousand for the same period in 2023, indicating a 18.1% increase[45] EBITDA and Backlog - EBITDA for the fourth quarter was $241 million, representing 32% of sales, a 4% increase from $227 million in the prior year[4] - EBITDA for the twelve months ended October 31, 2024, was $849,168 thousand, an increase from $818,974 thousand in the previous year, reflecting a growth of 3.7%[35] - EBITDA for the three months ended October 31, 2024, was $241,096 thousand, representing a 6.1% increase from $227,100 thousand in the prior year[38] - The company has approximately $580 million in backlog entering fiscal 2025[14] Assets and Liabilities - The company reported a total current assets increase to $1,275,032 thousand as of October 31, 2024, compared to $1,229,310 thousand in 2023, marking a growth of 3.7%[26] - Long-term debt increased to $2,101,197 thousand as of October 31, 2024, up from $1,621,394 thousand in the previous year, indicating a rise of 29.5%[26] - The company’s total shareholders' equity increased to $2,932,192 thousand as of October 31, 2024, compared to $2,598,060 thousand in 2023, representing a growth of 12.8%[26]

Group 1: Company Performance - Nordson Corporation (NDSN) is experiencing growth in the Industrial Precision Solutions segment, driven by strong demand for packaging and nonwoven product lines [1] - The company expects to generate sales between $2.665 billion and $2.705 billion in fiscal 2024, indicating a year-over-year growth of 2.1% at the midpoint [1] - The acquisition of Atrion Corporation's businesses will enhance Nordson's medical offerings in infusion and cardiovascular therapies [2] - The ARAG Group acquisition has expanded Nordson's capabilities in precision dispensing technology, contributing to a 4% revenue increase in the third quarter of fiscal 2024 [3] Group 2: Shareholder Returns - Nordson has prioritized shareholder returns through dividend payouts and share repurchases, paying out $116.8 million in dividends and repurchasing $34.1 million in shares in the first three quarters of fiscal 2024 [4] - In August 2024, the company increased its dividend by 15% to 78 cents per share [4] Group 3: Segment Challenges - The Advanced Technology Solutions and Medical and Fluid Solutions segments are facing challenges, with the Advanced Technology Solutions segment declining by 10.9% in the fiscal third quarter [7] - The Medical and Fluid Solutions segment's revenues decreased by 2.4% year over year in the fiscal third quarter due to reduced demand for interventional solutions and fluid components [7] Group 4: Cost Concerns - The company is facing rising costs, with a 1.5% year-over-year increase in the cost of sales and a 2.4% increase in selling and administrative expenses in the fiscal third quarter, attributed to high acquisition costs [8] Group 5: Stock Performance - Over the past three months, NDSN shares have gained 10%, compared to the industry's growth of 15.4% [6]

Core Viewpoint - Nordson (NDSN) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in buying or selling actions that affect stock prices [4]. Company Performance and Outlook - For the fiscal year ending October 2024, Nordson is expected to earn $9.55 per share, reflecting a 5.8% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Nordson has risen by 0.3%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks based on earnings estimate revisions, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, suggesting superior potential for market-beating returns [9][10]. - The upgrade of Nordson to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong likelihood of price appreciation in the near term [10].

Group 1: Company Performance and Growth - Nordson Corporation (NDSN) is experiencing solid momentum in the Industrial Precision Solutions segment, driven by the popularity of its packaging and nonwoven product lines [1] - The company expects sales for fiscal 2024 to be in the range of $2.665-$2.705 billion, indicating a year-over-year growth of 2.1% at the midpoint [1] - The acquisition of Atrion Corporation in August 2024 will enhance NDSN's medical offerings in infusion and cardiovascular therapies [2] - The ARAG Group acquisition in August 2023 has expanded NDSN's capabilities in precision dispensing technology, contributing to a 4% revenue boost in the third quarter of fiscal 2024 [3] Group 2: Shareholder Returns - NDSN is committed to rewarding shareholders, having paid out dividends of $116.8 million in the first nine months of fiscal 2024, a 4.8% increase year over year [4] - The company repurchased shares worth $34.1 million during the same period and increased its dividend by 15% to 78 cents per share in August 2024, marking the 61st consecutive year of dividend increases [4] Group 3: Market Challenges - The Advanced Technology Solutions segment is facing challenges due to lower demand for electronics processing and x-ray and test product lines [6] - The Medical and Fluid Solutions segment is also experiencing soft demand for interventional solutions and fluid components [6] - Rising costs and expenses are a concern, with cost of sales increasing by 1.5% year over year and selling and administrative expenses rising by 2.4% in the fiscal third quarter [7]

Core Viewpoint - Nordson reported a mixed performance in its third-quarter fiscal 2024 earnings, with adjusted earnings per share surpassing estimates but a year-over-year decline in net income and organic sales [2][3][12]. Financial Performance - Adjusted earnings for Q3 fiscal 2024 were $2.41 per share, exceeding the Zacks Consensus Estimate of $2.33, but down 6% year-over-year [2]. - Revenues reached $661.6 million, a 2% increase from the previous year, driven by the Industrial Precision Solutions segment, and surpassed the Zacks Consensus Estimate of $655 million [3]. - Organic sales declined by 1% year-over-year, attributed to softness in electronics and medical product lines, while acquisitions contributed positively by 4% and foreign currency translation negatively impacted by 1% [3]. Segment Performance - Revenues from the Industrial Precision Solutions segment were $370.6 million, up 9.6% year-over-year, contributing 56% to total revenues [4]. - Medical and Fluid Solutions revenues were $166.7 million, down 2.4% year-over-year, contributing 25.2% to total revenues [5]. - Advanced Technology Solutions sales were $124.3 million, down 10.9% year-over-year, representing 18.8% of total revenues [6]. Margin and Expenses - Cost of sales increased by 1.5% to $292.6 million, with gross profit rising 2.4% to $369 million, resulting in a gross margin of 55.8%, an increase of 30 basis points [7]. - Selling and administrative expenses rose 6.7% to $201.9 million, while operating income decreased by 2.3% to $167.1 million, leading to an operating margin of 25.3%, down 110 basis points [8]. Balance Sheet and Cash Flow - Cash and cash equivalents at the end of Q3 were $165.3 million, up from $115.7 million at the end of Q4 fiscal 2023, while long-term debt decreased to $1.4 billion from $1.6 billion [9]. - Net cash generated from operating activities in the first nine months of fiscal 2024 was $459.8 million, down 3.8% year-over-year, with capital expenditures increasing by 81% to $43.8 million [10]. Dividends and Share Buyback - Dividends paid in the first nine months of fiscal 2024 totaled $116.8 million, a 4.8% increase from the previous year, while treasury share purchases amounted to $34.1 million, down from $78.2 million [11]. Outlook - For fiscal 2024, Nordson anticipates adjusted earnings in the range of $9.45-$9.65 per share and sales between $2.665-$2.705 billion, both revised upward from previous estimates [12].