Nordson (NDSN) Q2 Earnings Surpass Estimates

Core Insights - Nordson reported quarterly earnings of $2.34 per share, exceeding the Zacks Consensus Estimate of $2.30 per share, and showing an increase from $2.26 per share a year ago, resulting in an earnings surprise of 1.74% [1] - The company posted revenues of $650.64 million for the quarter ended April 2024, which was slightly below the Zacks Consensus Estimate by 1.17%, and a marginal increase from $650.17 million year-over-year [2] - Nordson has surpassed consensus EPS estimates in all four of the last quarters, while it has topped consensus revenue estimates twice during the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.74 on revenues of $705.53 million, and for the current fiscal year, it is $10.20 on revenues of $2.76 billion [7] - The trend of estimate revisions for Nordson has been unfavorable leading up to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Manufacturing - General Industrial industry, to which Nordson belongs, is currently ranked in the top 22% of over 250 Zacks industries, suggesting a favorable environment for companies within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]