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Nordson stock drops 7% after company’s revenue miss

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Nordson Corp. shares fell nearly 7% in the aftermarket Monday after the maker of adhesives and other industrial products reported fiscal third-quarter...

Nordson Corp. shares NDSN, -0.41% fell nearly 7% in the aftermarket Monday after the maker of adhesives and other industrial products reported fiscal third-quarter revenue that missed estimates, mostly on “ongoing” weakness in its electronics and biopharma businesses. Nordson earned $128 million, or $2.22 a share, in the quarter, compared with $142 million, or $2.

45 a share, in the year-ago period. Adjusted for one-time items, the company earned $2.35 a share. Sales fell 2% to $649 million, Nordson said. Analysts polled by FactSet expected the company to report adjusted EPS of $2.32 on sales of $665 million. Nordson also shrunk its revenue guidance for the year to flat to 2% growth over fiscal 2022, and adjusted EPS between $8.90 and $9.05. The stock ended the regular trading day down 0.4%.

 

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