Nordson Corp. (NDSN) Tops Q2 EPS by 28c, Revenues Beat

Nordson Corp. (NASDAQ: NDSN) reported Q2 EPS of $1.58, $0.28 better than the analyst estimate of $1.30. Revenue for the quarter came in at $529.48 million versus the consensus estimate of $505.29 million.

Commenting on the company’s fiscal second quarter 2020, Sundaram Nagarajan, Nordson President and Chief Executive Officer, said, “In the second quarter, our team focused on two critical priorities – protecting the health and safety of our employees and responding to the needs of our customers. I am so thankful for their incredible commitment. One of the core strengths of Nordson is the diversity of the end markets and geographies we serve, and this diversity clearly contributed to our performance in the quarter.”

Outlook

Backlog for the quarter ended April 30, 2020, was approximately $456 million, an increase of 6 percent compared to the same period a year ago. Impact from the fiscal 2019 acquisition of Optical Control GmbH was not significant. Backlog amounts are calculated at April 30, 2020 exchange rates.

Due to the uncertainties of the duration and impact of the COVID-19 pandemic, the company is suspending its previously announced annual guidance for fiscal 2020.

Nagarajan said, “Though our performance through the first half of the year has been solid considering the impact of COVID-19 on the global end markets we serve, and we have a strong backlog heading into the second half of the year, we have seen a softening in order trends over the last six weeks. This is a dynamic environment, making it difficult to accurately forecast the impact this pandemic will have on our business for the remainder of the fiscal year. We have a solid foundation, fortified by the diversity of our business and our strong balance sheet. We will stay focused on the health and safety of our employees and the success of our customers, and we will continue to progress our long-term strategic priorities of accelerating organic growth, diversifying through acquisition, leveraging the Nordson Business System and focusing on talent development.”

For earnings history and earnings-related data on Nordson Corp. (NDSN) click here.

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