Key Takeaways Nordson's Q3 cost of sales rose 14.5% and SG&A grew 2.3% year over year.EBITDA margin improved 70 bps on solid demand for products in the Advanced Technology Solutions unit.Revenue rose 12% to $742M, supported by strong demand in multiple product lines.Nordson Corporation (NDSN) has been grappling with rising costs and expenses over time. NDSN reported an uptick in costs and expenses during the third quarter of fiscal 2025 (ended July 2025). The company’s cost of sales increased 14.5% year ove ...

Core Insights - Matthews International Corporation announced the retirement of Chief Financial Officer Steven F. Nicola effective December 31, 2025, after over three decades with the company [1][2] - Daniel E. Stopar has been appointed as the new CFO and Treasurer, effective December 1, 2025, bringing extensive financial experience from his previous roles within Matthews and other companies [2] Company Overview - Matthews International operates through two main segments: Industrial Technologies and Memorialization, focusing on operational efficiency and long-term growth through innovation and strategic expansion [3] - The Industrial Technologies segment is a leading global innovator in precision technologies and intelligent processes, while the Memorialization segment provides products such as memorials, caskets, and cremation equipment to cemetery and funeral home customers [3] - The company has a significant investment in Propelis, a brand solutions business that offers integrated solutions including brand creative, packaging, and content production [3] - Matthews International employs over 5,400 individuals across 19 countries on four continents, dedicated to delivering high-quality products and services [3]

Earnings Performance - Hubbell reported quarterly earnings of $4.93 per share, exceeding the Zacks Consensus Estimate of $4.36 per share, and up from $4.37 per share a year ago, representing an earnings surprise of +13.07% [1] - The company posted revenues of $1.48 billion for the quarter ended June 2025, which was 1.4% below the Zacks Consensus Estimate, and compared to $1.45 billion in the same quarter last year [2] Stock Performance and Outlook - Hubbell shares have increased by approximately 4.6% since the beginning of the year, while the S&P 500 has gained 8.6% [3] - The company's current Zacks Rank is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Future Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $4.99 on revenues of $1.56 billion, and for the current fiscal year, it is $17.38 on revenues of $5.92 billion [7] - The trend of earnings estimate revisions for Hubbell was mixed prior to the earnings release, which may change following the report [6] Industry Context - The Manufacturing - Electrical Utilities industry, to which Hubbell belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Data and Key Metrics Changes - Total net sales for 2024 were just over $3 billion, with conversion revenue at $1.46 billion, a decrease of $10 million or 1% compared to 2023 [8][10] - Adjusted EBITDA for 2024 was $217 million, up approximately $7 million from 2023, with adjusted EBITDA as a percentage of conversion revenue improving by approximately 60 basis points to 14.9% [11][12] - Reported net income for 2024 was $47 million, or $2.87 per diluted share, consistent with 2023 [11] Business Line Data and Key Metrics Changes - Aerospace and high strength conversion revenue totaled $530 million, down $4 million or approximately 1%, reflecting a 4% decline in shipments [9] - Packaging conversion revenue was $490 million, down $13 million or approximately 3%, with a 3% decline in shipments [9] - General engineering conversion revenue for 2024 was $313 million, up 3% year over year due to a 6% increase in shipments [9] - Automotive conversion revenue was $120 million, up 3% over 2023 despite a 3% decline in shipments [10] Market Data and Key Metrics Changes - The market backdrop in 2024 was complex and rapidly changing, with challenges in each end market, particularly in packaging [6][7] - The company expects market conditions to stabilize and become more favorable as it moves through 2025 [8] Company Strategy and Development Direction - The company is focused on niche areas in served markets with significant barriers to entry, building strong competitive positions through product differentiation [16] - Investments are being made to upgrade facilities and expand capacity, particularly in the packaging and aerospace sectors [17][21][23] - The company anticipates a transformational year in 2025, driven by strategic investments and strong market positions [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of customer contracts and the potential for increased demand in the second half of 2025 [41][42] - The company expects to see meaningful EBITDA and EBITDA margin uplift in the second half of 2025, with around 60% of full-year EBITDA expected to come in during that period [31][59] Other Important Information - The company returned approximately $51 million to shareholders through dividend payments in 2024, marking the eighteenth consecutive year of dividends [15] - The company is assessing alternative inventory accounting methods and expects to provide an update prior to the release of first-quarter 2025 results [15] Q&A Session Summary Question: What are the assumptions regarding scrap spreads and their impact on EBITDA? - The company modeled EBITDA improvement based on last year's performance, expecting 150 to 200 basis points of improvement from scrap spreads [35][36] Question: What is the outlook for the aerospace market and inventory levels? - Management expects build rates to increase with large OEM airframers, leading to a potential uptick in demand in the second half of the year [42] Question: What is the impact of pricing in the packaging segment? - The fourth quarter pricing decline was attributed to a mix impact, with strong demand anticipated for higher value-added products in the second half of the year [44][46] Question: What is the expected CapEx for 2025? - The company expects CapEx to be around $125 million for 2025, including finalizing investments in the RollCoat line and Trentwood expansion [61] Question: What is the status of NOLs and cash tax payments? - The company has utilized its NOLs and expects cash tax payments in 2025 to be in the range of $5 million to $7 million [62]