Business
Nordson Corporation Reports Fiscal Year 2022 First Quarter Results and Updates Annual Guidance
First Quarter: Sales were $609 million, a 16% increase over prior year Earnings per share were $2.05 compared to $1.32 in the prior year Adjusted operating
About this update from Nordson Corporation
[{"type":"text","content":"\nFirst Quarter:\n\n\nSales were $609 million, a 16% increase over prior year\n\n\n\nEarnings per share were $2.05 compared to $1.32 in the prior year\n\n\n\nAdjusted operating profit was $157 million, a 44% increase over prior year\n\n\n\nAdjusted earnings were $2.07 per diluted share, a 57% increase over the prior year\n\n\nGuidance:\n\n\nUpdate prior full-year 2022 guidance to the high-end of the range for revenue and earnings: revenue growth in the range of 7% to 10% and adjusted earnings per diluted share growth in the range of 14% to 18% over fiscal 2021\n\n\n WESTLAKE, Ohio--(BUSINESS WIRE)--\nNordson Corporation (Nasdaq: NDSN) today reported results for the fiscal first quarter ended January 31, 2022. Sales were $609 million, a 16% increase compared to the prior year’s first quarter sales of $527 million. The increase in first quarter 2022 sales included organic volume growth of 16% and a favorable impact of acquisitions/divestitures of 2%, partially offset by unfavorable effects from currency translation of 2%. The organic sales increase was driven by strong demand across most end markets.\n\nOperating profit in the first quarter was $156 million. Excluding the amortization of acquired inventory, adjusted operating profit in the quarter was $157 million, or 26% of sales, compared to prior year operating profit of $109 million. This 44% increase in adjusted operating profit was driven by volume leverage, favorable sales mix and continued cost control measures. EBITDA for the first quarter of 2022 totaled $183 million, or 30% of sales.\n\nNet income was $120 million, or $2.05 earnings per diluted share. Adjusted net income was $122 million, a $44 million increase from the prior year earnings of $78 million. First quarter 2022 adjusted diluted earnings per share were $2.07, a 57% increase over the prior year diluted earnings per share of $1.32.\n\n“In line with our expectations, the first quarter results sustained the strong momentum from our record performance in fiscal 2021. Our teams did an outstanding job delivering double-digit sales growth across most end markets in the midst of supply chain constraints and labor shortages. I am very thankful for our employees, who are managing dynamic market conditions, deploying the NBS Next growth framework and ensuring we meet the needs of our customers,” said Sundaram Nagarajan,...