Business
Nordson Corporation Reports a Strong Fourth Quarter and Record Fiscal Year 2022 Results
Fourth Quarter: Sales were $684 million, a 14% year-over-year increase, 18% organic Operating profit was $178 million, a 17% increase over prior year
About this update from Nordson Corporation
[{"type":"text","content":"\nFourth Quarter:\n\n\nSales were $684 million, a 14% year-over-year increase, 18% organic\n\n\nOperating profit was $178 million, a 17% increase over prior year\n\n\nEarnings were $2.44 per diluted share, a 30% increase from prior year earnings per share\n\n\nFull Year:\n\n\nFull year sales, operating profit, and earnings per share were all Company records\n\n\nSales were $2.6 billion, a 10% year-over-year increase\n\n\nEarnings were $8.81 per diluted share; adjusted earnings were $9.43 per diluted share, a 22% increase from prior year adjusted earnings per share\n\n\n2023 Guidance:\n\n\nFiscal 2023 forecasted sales growth of 1% to 7% and adjusted earnings in the range of $8.75 to $10.10 per share\n\n\n WESTLAKE, Ohio--(BUSINESS WIRE)--\nNordson Corporation (Nasdaq: NDSN) today reported results for the fiscal fourth quarter ended October 31, 2022. Sales were $684 million, a 14% increase compared to the prior year’s fourth quarter sales of $599 million. The increase in fourth quarter 2022 sales included 18% organic volume growth, a favorable 4% acquisition impact and unfavorable currency translation of 8%. Organic sales growth was strong in virtually all end markets, and particularly robust for electronics and medical.\n\nOperating profit in the quarter was $178 million, or 26% of sales, a 17% increase compared to the prior year operating profit of $151 million. Sales volume leverage drove the quarterly increase. EBITDA in the quarter totaled $202 million, or 30% of sales, and represents an increase of 14% from the prior year EBITDA of $177 million.\n\nNet income was $141 million, a 28% increase compared to the prior year earnings of $110 million. Fourth quarter diluted earnings per share were $2.44, a 30% increase over the prior year earnings of $1.88 per diluted share.\n\nCommenting on the Company’s fiscal 2022 fourth quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “Once again, our teams responded to the broad-based demand of our customers and delivered a strong fourth quarter sales and operating performance. This is the second consecutive time that we have broken our quarterly sales record, despite significant currency headwinds. This is a testament to the execution of our Ascend strategy, as well as the resilience of our winning teams.”\n\nFourth Quarter Segment Results\n\nIndustrial P...