Nordson Corp. (NASDAQ: NDSN) reported Q3 EPS of $2.42, $0.36 better than the analyst estimate of $2.06. Revenue for the quarter came in at $647 million versus the consensus estimate of $602.66 million.

GUIDANCE:

Nordson Corp. raises FY2021 EPS to $7.75-$7.95, versus the consensus of $7.58.

Backlog entering the fourth quarter of fiscal year 2021 is approximately $700 million, or 70% above the prior year. Customer order patterns have clearly changed in terms of both volume and extended shipment request dates during this dynamic environment. Based on the continued strength in order entry and backlog, the Company is increasing its full-year revenue and earnings guidance.

The Company expects full year sales growth in fiscal 2021 to be approximately 11% to 12% over fiscal year 2020, inclusive of a 3% headwind from the second quarter 2021 divestiture of the screws and barrels product line. Additionally, the Company is now forecasting full year 2021 earnings per diluted share in the range of $7.75 to $7.95. The increased guidance midpoint represents a strong second half of 2021 with year-over-year sales growth of 14% and earnings growth of 47%. The Company is expecting to enter fiscal 2022 with a backlog approximately 70% greater than the prior year.

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