Business
Nordson Corporation Reports Record Third Quarter Results and Raises Fiscal Year 2021 Guidance
Third Quarter: Quarterly sales, operating profit, and earnings per share were all company records Sales were $647 million, a 20% increase over prior year
About this update from Nordson Corporation
[{"type":"text","content":"\nThird Quarter:\n\n\nQuarterly sales, operating profit, and earnings per share were all company records\n\n\nSales were $647 million, a 20% increase over prior year\n\n\nOperating profit was $188 million, a 57% increase over prior year adjusted operating profit\n\n\nEarnings were $2.42 per diluted share, a 70% increase over prior year adjusted earnings per share\n\n\nGuidance:\n\n\nIncreased prior fiscal 2021 full-year revenue guidance range to 11% to 12% growth over prior year, and earnings guidance range by approximately 7% to $7.75 to $7.95 per diluted share\n\n\n WESTLAKE, Ohio--(BUSINESS WIRE)--\nNordson Corporation (Nasdaq: NDSN) today reported results for the fiscal third quarter ended July 31, 2021. Sales were a quarterly company record of $647 million, a 20% increase compared to the prior year’s third quarter sales of $538 million. The increase in third quarter 2021 sales included organic volume growth of 20% and favorable effects from currency translation of 4%, offset by a net unfavorable impact of acquisitions and divestitures of 4%. The organic sales increase was driven by continued demand across all end markets, including a seasonal increase of quarterly shipments into the electronics end market.\n\nOperating profit in the quarter was $188 million, or 29% of sales, compared to prior year adjusted operating profit of $120 million. This 57% increase in adjusted operating profit was driven by sales volume leverage and benefits from structural cost reduction actions taken in fiscal year 2020, as well as the divestiture of the screws and barrels product line on February 1, 2021. EBITDA for the third quarter of 2021 totaled $215 million, or 33% of sales.\n\nNet income was $142 million, a 71% increase from the prior year adjusted earnings of $83 million. Third quarter 2021 diluted earnings per share were $2.42, a 70% increase over the prior year adjusted diluted earnings per share of $1.42.\n\n“In the fiscal third quarter, we continued to benefit from the robust end market demand and accelerated recovery that we experienced in our second quarter. We were particularly pleased to see strong growth return in our medical, electronics and industrial end markets. Our teams are doing an outstanding job of managing through external supply chain and labor headwinds in order to deliver on the needs of our customers. The comprehens...