By Paul Ziobro
Nordson reported a drop in first-quarter revenue and profit, citing weakness across multiple end markets at the end of the 2024.
The Westlake, Ohio, manufacturing company on Wednesday reported a profit of $94.7 million, or $1.65 a share, compared with a profit of $109.6 million, or $1.90 a share, in the year-ago quarter.
Adjusted earnings were $2.06 a share. Analysts polled by FactSet expected adjusted earnings of $2.09.
Revenue fell 2.8%, to $615.4 million, at the low-end of its forecast for the quarter and short of analyst estimates of $640 million.
Sales fell 11% in both its industrial precision solutions and advanced technology solutions segments, and rose 21% in its medical and fluid solutions unit.
Chief Executive Sundaram Nagarajan said that while sales to end-markets was weak at the end of 2024, the company is encouraged by broad order entry acceleration during the quarter and noted that backlog rose by about $85 million.
For the current quarter, Nordson expects adjusted per-share earnings between $2.30 and $2.50 and revenue between $650 million and $690 million. Analysts expected adjusted earnings of $2.42 a share and revenue of $687 million.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
February 19, 2025 16:55 ET (21:55 GMT)
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