Business
Nordson Corporation Reports Record Third Quarter Fiscal 2022 Results and Confirms Annual Guidance
Third Quarter: Sales were $662 million, a 2% increase over prior year’s record sales Constant currency sales increased 7% over prior year’s record sales
About this update from Nordson Corporation
[{"type":"text","content":"\nThird Quarter:\n\n\nSales were $662 million, a 2% increase over prior year’s record sales\n\n\nConstant currency sales increased 7% over prior year’s record sales\n\n\nEarnings per share were $2.45 compared to $2.42 in the prior year\n\n\nAdjusted earnings were $2.49 per share, a 3% increase over the prior year\n\n\nGuidance:\n\n\nConfirming previously issued full-year fiscal 2022 guidance: revenue growth of 8% to 9% over fiscal 2021 and adjusted earnings per diluted share growth of 18% to 21%\n\n\n WESTLAKE, Ohio--(BUSINESS WIRE)--\nNordson Corporation (Nasdaq: NDSN) today reported results for the fiscal third quarter ended July 31, 2022. Sales were $662 million, a 2% increase compared to the prior year’s third quarter record sales of $647 million. In constant currency, the increase in third quarter 2022 sales was approximately 7% driven by strong organic volume growth of 4% and a favorable acquisition impact. The organic sales increase was driven by strong demand across most end markets, particularly in electronics and medical.\n\nOperating profit in the third quarter was $185 million, or 28% of sales. Adjusted operating profit, excluding facility closure and restructuring costs, totaled $188 million, comparable to prior year operating profit. The relatively flat profit level compared to the strong prior year third quarter was driven primarily by organic sales volume growth offset by unfavorable currency impacts and inflationary pressures. EBITDA for the third quarter of 2022 totaled $213 million, or 32% of sales.\n\nNet income was $142 million, or $2.45 earnings per diluted share. Adjusted net income was $144 million, a $2 million increase from the prior year earnings of $142 million. Third quarter 2022 adjusted earnings per diluted share were $2.49, a 3% increase over the prior year earnings per diluted share of $2.42.\n\n“The Nordson team delivered another outstanding record sales performance, responding to the steady and broad-based demand of our customers. In fiscal 2022, we have faced persistent headwinds of inflation, labor shortages, and increasing currency pressures, yet order entry remains strong with another favorable book-to-bill ratio in the quarter and our teams have proven resilient. The combination of our differentiated precision technology, customer-centric model, NBS Next growth framework and dedicated empl...