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Nordson Corporation (NDSN) has been benefiting from persistent strength in the Industrial Precision Solutions segment, driven by the solid demand for its packaging and nonwoven product lines. The growing need for packaged goods in food and beverage, pharmaceutical and other consumer goods markets is driving demand for the company's packaging product lines, which also bodes well for the segment. Sales from this segment increased 6.8% year over year in fiscal 2024 (ended October 2024).Driven by strength acros ...

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].