Nordson (NDSN) 2021 Q2 Financial Results Preview

Nordson Corp (NASDAQ:NDSN) traces its roots back to 1954 when two brothers named Eric and Evan Nord founded the company in Ohio. Nordson specializes in manufacturing equipment used for dispensing adhesives, coatings, and sealants (see largest chemical companies in the world). It serves a range of industries including electronics, packaging, healthcare, and automotive, among others.

The company recently announced better-than-expected financial results for the second quarter. Nordson reported earnings of $2.12 per share for the three months ended April 30, versus $1.58 per share in the comparable quarter of 2020. Analysts on average were looking for earnings of $1.65 per share.

Revenue for the quarter climbed 11 percent on a year-over-year basis to $590 million, helped by solid growth in electronics and medical end markets. The figure was above the consensus forecast of $547.98 million.

Speaking on the results, CEO Sundaram Nagarajan said, “Broader end market demand accelerated in the quarter more quickly and to a higher level than we previously anticipated. I am very pleased with the dedication and agility of our teams as we delivered record revenue and operating results in the quarter.”

Nordson also updated its financial outlook for the full year. The company now expects earnings in the range of $7.20 per share to $7.50 per share for fiscal 2021, translating to a year-over-year growth between 31 to 37 percent. Moreover, revenue for the full year is expected to increase in the range of 8 to 10 percent as compared to the last year.