Nordson Corporation Reports First Quarter Fiscal 2025 Results and Second Quarter Guidance
Nordson (NDSN) reported first quarter fiscal 2025 results with sales of $615 million, showing a 2.8% year-over-year decrease. The quarter included an 8% favorable acquisition impact, offset by a 9% organic sales decrease and 2% unfavorable currency translation.
Net income was $95 million, or $1.65 per diluted share, compared to $110 million ($1.90 per share) in the prior year. Adjusted earnings per share were $2.06, down 7% from $2.21. EBITDA was $188 million, representing 31% of sales.
The company saw backlog growth of 15% during the quarter, reaching approximately $670 million. For Q2 fiscal 2025, Nordson expects sales between $650-$690 million and adjusted earnings of $2.30-$2.50 per diluted share.
Nordson (NDSN) ha riportato i risultati del primo trimestre dell'anno fiscale 2025 con vendite di 615 milioni di dollari, mostrando una diminuzione del 2,8% rispetto all'anno precedente. Il trimestre ha incluso un impatto favorevole dell'acquisizione dell'8%, compensato da una diminuzione delle vendite organiche del 9% e da una traduzione valutaria sfavorevole del 2%.
Il reddito netto è stato di 95 milioni di dollari, ovvero 1,65 dollari per azione diluita, rispetto ai 110 milioni di dollari (1,90 dollari per azione) dell'anno precedente. Gli utili per azione rettificati sono stati di 2,06 dollari, in calo del 7% rispetto a 2,21 dollari. L'EBITDA è stato di 188 milioni di dollari, pari al 31% delle vendite.
L'azienda ha registrato una crescita del backlog del 15% durante il trimestre, raggiungendo circa 670 milioni di dollari. Per il secondo trimestre dell'anno fiscale 2025, Nordson prevede vendite tra 650 e 690 milioni di dollari e utili rettificati di 2,30-2,50 dollari per azione diluita.
Nordson (NDSN) reportó los resultados del primer trimestre del año fiscal 2025 con ventas de 615 millones de dólares, mostrando una disminución del 2.8% en comparación con el año anterior. El trimestre incluyó un impacto favorable de adquisición del 8%, compensado por una disminución de ventas orgánicas del 9% y una traducción de divisas desfavorable del 2%.
El ingreso neto fue de 95 millones de dólares, o 1.65 dólares por acción diluida, comparado con 110 millones de dólares (1.90 dólares por acción) en el año anterior. Las ganancias ajustadas por acción fueron de 2.06 dólares, un descenso del 7% desde 2.21 dólares. El EBITDA fue de 188 millones de dólares, representando el 31% de las ventas.
La empresa vio un crecimiento de backlog del 15% durante el trimestre, alcanzando aproximadamente 670 millones de dólares. Para el segundo trimestre del año fiscal 2025, Nordson espera ventas entre 650 y 690 millones de dólares y ganancias ajustadas de 2.30-2.50 dólares por acción diluida.
Nordson (NDSN)은 2025 회계연도 첫 분기 실적을 보고하며 6억 1,500만 달러의 매출을 기록하여 전년 대비 2.8% 감소했다고 발표했습니다. 이번 분기에는 8%의 유리한 인수 영향이 포함되었으나, 9%의 유기적 매출 감소와 2%의 불리한 환율 변동으로 상쇄되었습니다.
순이익은 9,500만 달러, 즉 희석 주당 1.65달러로, 전년의 1억 1천만 달러(주당 1.90달러)와 비교되었습니다. 조정 후 주당 수익은 2.06달러로, 2.21달러에서 7% 감소했습니다. EBITDA는 1억 8,800만 달러로, 매출의 31%를 차지했습니다.
회사는 이번 분기 동안 백로그 15% 성장을 기록하며 약 6억 7천만 달러에 도달했습니다. 2025 회계연도 2분기에는 Nordson이 6억 5천만 달러에서 6억 9천만 달러 사이의 매출과 희석 주당 2.30-2.50달러의 조정 후 수익을 예상하고 있습니다.
Nordson (NDSN) a publié ses résultats du premier trimestre de l'exercice 2025 avec des ventes de 615 millions de dollars, ce qui représente une diminution de 2,8 % par rapport à l'année précédente. Le trimestre a inclus un impact d'acquisition favorable de 8 %, compensé par une diminution des ventes organiques de 9 % et une traduction monétaire défavorable de 2 %.
Le résultat net s'élevait à 95 millions de dollars, soit 1,65 dollar par action diluée, contre 110 millions de dollars (1,90 dollar par action) l'année précédente. Le bénéfice par action ajusté était de 2,06 dollars, en baisse de 7 % par rapport à 2,21 dollars. L'EBITDA était de 188 millions de dollars, représentant 31 % des ventes.
L'entreprise a connu une croissance du carnet de commandes de 15% au cours du trimestre, atteignant environ 670 millions de dollars. Pour le deuxième trimestre de l'exercice 2025, Nordson prévoit des ventes entre 650 et 690 millions de dollars et un bénéfice ajusté de 2,30 à 2,50 dollars par action diluée.
Nordson (NDSN) hat die Ergebnisse des ersten Quartals des Geschäftsjahres 2025 mit einem Umsatz von 615 Millionen Dollar veröffentlicht, was einem Rückgang von 2,8 % im Vergleich zum Vorjahr entspricht. Das Quartal beinhaltete einen positiven Akquisitionsbeitrag von 8 %, der durch einen Rückgang des organischen Umsatzes von 9 % und eine ungünstige Währungsumrechnung von 2 % ausgeglichen wurde.
Der Nettogewinn betrug 95 Millionen Dollar, oder 1,65 Dollar pro verwässerter Aktie, verglichen mit 110 Millionen Dollar (1,90 Dollar pro Aktie) im Vorjahr. Der bereinigte Gewinn pro Aktie betrug 2,06 Dollar, ein Rückgang von 7 % gegenüber 2,21 Dollar. Das EBITDA betrug 188 Millionen Dollar, was 31 % des Umsatzes entspricht.
Das Unternehmen verzeichnete im Quartal ein Wachstum des Auftragsbestands von 15% und erreichte etwa 670 Millionen Dollar. Für das zweite Quartal des Geschäftsjahres 2025 erwartet Nordson einen Umsatz zwischen 650 und 690 Millionen Dollar sowie bereinigte Gewinne von 2,30 bis 2,50 Dollar pro verwässerter Aktie.
- Backlog grew by $85 million (15%) during the quarter
- EBITDA margins maintained at 31% of sales despite lower revenue
- Favorable acquisition impact of 8% on sales
- Medical and Fluid Solutions segment sales increased 21%
- Overall sales decreased 2.8% year-over-year to $615 million
- Organic sales declined 9%
- Net income decreased to $95 million from $110 million year-over-year
- Adjusted EPS declined 7% to $2.06 from $2.21
- Industrial Precision Solutions sales decreased 11%
- Advanced Technology Solutions sales decreased 11%
Insights
The Q1 FY2025 results reveal Nordson's resilience amid challenging market conditions. While headline numbers show a
The segment performance tells a compelling story about market dynamics. The Industrial Precision Solutions segment's
The Q2 guidance of
The realignment of the Measurement and Control Solutions division to the Advanced Technology Solutions segment reflects strategic portfolio optimization, potentially enabling better operational synergies and market focus. This organizational adjustment, combined with strategic cost reduction actions, positions Nordson well for margin expansion when volume growth returns.
First Quarter Highlights:
-
Sales were
$615 million 2.8% year-over-year -
Earnings per diluted share were
$1.65 -
Adjusted earnings per diluted share were
$2.06 -
Backlog grew
15% during the quarter
Net income was
EBITDA in the first quarter was
Commenting on the Company’s fiscal 2025 first quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “We experienced weakness across multiple end markets as we exited calendar year 2024, resulting in sales performance at the low end of our guidance range for our first fiscal quarter. However, we were encouraged to see broad order entry acceleration during the quarter, and backlog grew by approximately
First Quarter Segment Results
Industrial Precision Solutions sales of
Medical and Fluid Solutions sales of
Advanced Technology Solutions sales of
Effective November 1, 2024, the Measurement and Control Solutions (MCS) division, formally reported as part of the IPS segment, has been realigned to the ATS segment based on an assessment of our portfolio. Our segment reporting reflects this change and prior year financial information was revised to be comparable. See the appendix to this release for comparative segment data by quarter for 2024.
Outlook
The Company entered the second quarter with approximately
Reflecting on the outlook, Nagarajan continued, “Even as macroeconomic conditions remain choppy, the momentum in order entry, strength of our diversified portfolio and NBS Next competitive advantages give us confidence that we are well positioned for growth as end market uncertainties abate and capital investment demand improves throughout 2025. We have demonstrated the ability to deliver best-in-class profitability in varying market scenarios, while remaining invested in the long-term growth priorities of the Company.”
Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, February 20, 2025 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com.
The Company’s definition of adjusted earnings excludes acquisition related amortization for both current and historical periods. It is not possible for the Company to identify the amount or significance of future adjustments associated with acquisition and integration costs, restructuring costs, acquisition-related amortization, certain non-operating or income tax items, or other non-routine costs that the Company adjusts in the presentation of adjusted earnings guidance. These items are dependent on future events that are not reasonably estimable at this time. Accordingly, the Company is unable to reconcile without unreasonable effort the forecasted range of adjusted earnings guidance to a comparable GAAP range.
Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to,
Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in
NORDSON CORPORATION |
||||||||
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) |
||||||||
(Dollars in thousands except for per-share amounts) |
||||||||
|
|
|
||||||
|
|
Three Months Ended |
||||||
|
|
January 31, 2025 |
|
January 31, 2024 |
||||
Sales |
|
$ |
615,420 |
|
|
$ |
633,193 |
|
Cost of sales |
|
|
279,524 |
|
|
|
284,766 |
|
Gross profit |
|
|
335,896 |
|
|
|
348,427 |
|
Gross margin % |
|
|
54.6 |
% |
|
|
55.0 |
% |
|
|
|
|
|
||||
Selling & administrative expenses |
|
|
194,949 |
|
|
|
188,992 |
|
Operating profit |
|
|
140,947 |
|
|
|
159,435 |
|
|
|
|
|
|
||||
Interest expense - net |
|
|
(25,618 |
) |
|
|
(20,398 |
) |
Other income (expense) - net |
|
|
1,526 |
|
|
|
(338 |
) |
Income before income taxes |
|
|
116,855 |
|
|
|
138,699 |
|
|
|
|
|
|
||||
Income taxes |
|
|
22,203 |
|
|
|
29,127 |
|
|
|
|
|
|
||||
Net income |
|
$ |
94,652 |
|
|
$ |
109,572 |
|
|
|
|
|
|
||||
Weighted-average common shares outstanding: |
|
|
|
|
||||
Basic |
|
|
57,129 |
|
|
|
57,064 |
|
Diluted |
|
|
57,486 |
|
|
|
57,555 |
|
|
|
|
|
|
||||
Earnings per share: |
|
|
|
|
||||
Basic earnings |
|
$ |
1.66 |
|
|
$ |
1.92 |
|
Diluted earnings |
|
$ |
1.65 |
|
|
$ |
1.90 |
|
NORDSON CORPORATION |
|||||
CONSOLIDATED BALANCE SHEETS (Unaudited) |
|||||
(Dollars in thousands) |
|||||
|
|
|
|
||
|
January 31, 2025 |
|
October 31, 2024 |
||
Cash and cash equivalents |
$ |
130,424 |
|
$ |
115,952 |
Receivables - net |
|
531,298 |
|
|
594,663 |
Inventories - net |
|
472,234 |
|
|
476,935 |
Other current assets |
|
92,068 |
|
|
87,482 |
Total current assets |
|
1,226,024 |
|
|
1,275,032 |
|
|
|
|
||
Property, plant and equipment - net |
|
538,448 |
|
|
544,607 |
Goodwill |
|
3,242,344 |
|
|
3,280,819 |
Other assets |
|
864,710 |
|
|
900,508 |
|
$ |
5,871,526 |
|
$ |
6,000,966 |
|
|
|
|
||
Notes payable and debt due within one year |
$ |
101,063 |
|
$ |
103,928 |
Accounts payable and accrued liabilities |
|
383,004 |
|
|
424,549 |
Total current liabilities |
|
484,067 |
|
|
528,477 |
|
|
|
|
||
Long-term debt |
|
2,085,177 |
|
|
2,101,197 |
Other liabilities |
|
425,671 |
|
|
439,100 |
Total shareholders' equity |
|
2,876,611 |
|
|
2,932,192 |
|
$ |
5,871,526 |
|
$ |
6,000,966 |
|
|
|
|
||
NORDSON CORPORATION |
|||||||
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) |
|||||||
(Dollars in thousands) |
|||||||
|
|
||||||
|
Three Months Ended |
||||||
|
January 31,
|
|
January 31,
|
||||
Cash flows from operating activities: |
|
|
|
||||
Net income |
$ |
94,652 |
|
|
$ |
109,572 |
|
Depreciation and amortization |
|
37,031 |
|
|
|
33,544 |
|
Other non-cash items |
|
3,160 |
|
|
|
6,552 |
|
Changes in operating assets and liabilities and other |
|
24,279 |
|
|
|
22,688 |
|
Net cash provided by operating activities |
|
159,122 |
|
|
|
172,356 |
|
|
|
|
|
||||
Cash flows from investing activities: |
|
|
|
||||
Additions to property, plant and equipment |
|
(21,399 |
) |
|
|
(7,530 |
) |
Other - net |
|
7,123 |
|
|
|
1,805 |
|
Net cash used in investing activities |
|
(14,276 |
) |
|
|
(5,725 |
) |
|
|
|
|
||||
Cash flows from financing activities: |
|
|
|
||||
Repayment of long-term debt |
|
(22,563 |
) |
|
|
(107,195 |
) |
Repayment of finance lease obligations |
|
(1,320 |
) |
|
|
(1,488 |
) |
Dividends paid |
|
(44,602 |
) |
|
|
(38,855 |
) |
Issuance of common shares |
|
1,001 |
|
|
|
14,418 |
|
Purchase of treasury shares |
|
(60,098 |
) |
|
|
(7,371 |
) |
Net cash used in financing activities |
|
(127,582 |
) |
|
|
(140,491 |
) |
|
|
|
|
||||
Effect of exchange rate change on cash: |
|
(2,792 |
) |
|
|
(5,618 |
) |
Net change in cash and cash equivalents |
|
14,472 |
|
|
|
20,522 |
|
|
|
|
|
||||
Cash and cash equivalents: |
|
|
|
||||
Beginning of period |
|
115,952 |
|
|
|
115,679 |
|
End of period |
$ |
130,424 |
|
|
$ |
136,201 |
|
|
|
|
|
||||
NORDSON CORPORATION |
|||||||||||||||||
SALES BY GEOGRAPHIC SEGMENT (Unaudited) |
|||||||||||||||||
(Dollars in thousands) |
|||||||||||||||||
|
|
|
|
||||||||||||||
|
Three Months Ended |
|
Sales Variance |
||||||||||||||
|
January 31,
|
|
January 31,
|
|
Organic |
|
Acquisitions |
|
Currency |
|
Total |
||||||
SALES BY SEGMENT |
|
|
|
|
|
|
|
|
|
|
|
||||||
Industrial Precision Solutions |
$ |
300,448 |
|
$ |
337,742 |
|
(8.4 |
)% |
|
— |
% |
|
(2.6 |
)% |
|
(11.0 |
)% |
Medical and Fluid Solutions |
|
193,609 |
|
|
159,526 |
|
(11.2 |
)% |
|
33.4 |
% |
|
(0.8 |
)% |
|
21.4 |
% |
Advanced Technology Solutions |
|
121,363 |
|
|
135,925 |
|
(9.6 |
)% |
|
— |
% |
|
(1.1 |
)% |
|
(10.7 |
)% |
Total sales |
$ |
615,420 |
|
$ |
633,193 |
|
(9.4 |
)% |
|
8.4 |
% |
|
(1.8 |
)% |
|
(2.8 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
SALES BY GEOGRAPHIC REGION |
|
|
|
|
|
|
|
|
|
|
|
||||||
|
$ |
267,836 |
|
$ |
274,012 |
|
(14.8 |
)% |
|
13.6 |
% |
|
(1.1 |
)% |
|
(2.3 |
)% |
|
|
167,762 |
|
|
179,310 |
|
(9.3 |
)% |
|
5.6 |
% |
|
(2.7 |
)% |
|
(6.4 |
)% |
|
|
179,822 |
|
|
179,871 |
|
(1.2 |
)% |
|
3.3 |
% |
|
(2.1 |
)% |
|
— |
% |
Total sales |
$ |
615,420 |
|
$ |
633,193 |
|
(9.4 |
)% |
|
8.4 |
% |
|
(1.8 |
)% |
|
(2.8 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
NORDSON CORPORATION |
||||||
RECONCILIATION OF NON-GAAP MEASURES - NET INCOME TO EBITDA (Unaudited) |
||||||
(Dollars in thousands) |
||||||
|
|
|||||
|
Three Months Ended |
|||||
|
January 31, 2025 |
|
January 31, 2024 |
|||
Net income |
$ |
94,652 |
|
|
$ |
109,572 |
Income taxes |
|
22,203 |
|
|
|
29,127 |
Interest expense - net |
|
25,618 |
|
|
|
20,398 |
Other (income) expense - net |
|
(1,526 |
) |
|
|
338 |
Depreciation and amortization |
|
37,030 |
|
|
|
33,544 |
Inventory step-up amortization (1) |
|
3,135 |
|
|
|
2,944 |
Severance and other (1) |
|
5,961 |
|
|
|
— |
Acquisition-related costs (1) |
|
1,030 |
|
|
|
597 |
EBITDA (non-GAAP) (2) |
$ |
188,103 |
|
|
$ |
196,520 |
(1) Represents severance as well as fees and non-cash inventory charges associated with acquisitions. |
||||||
(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as severance, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization. |
||||||
NORDSON CORPORATION |
|||||||||||||
RECONCILIATION OF NON-GAAP MEASURES - EBITDA (Unaudited) |
|||||||||||||
(Dollars in thousands) |
|||||||||||||
|
|
||||||||||||
|
Three Months Ended |
||||||||||||
|
January 31, 2025 |
|
January 31, 2024 |
||||||||||
SALES BY SEGMENT |
|
|
|
|
|
|
|
||||||
Industrial Precision Solutions |
$ |
300,448 |
|
|
|
|
$ |
337,742 |
|
|
|
||
Medical and Fluid Solutions |
|
193,609 |
|
|
|
|
|
159,526 |
|
|
|
||
Advanced Technology Solutions |
|
121,363 |
|
|
|
|
|
135,925 |
|
|
|
||
Total sales |
$ |
615,420 |
|
|
|
|
$ |
633,193 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
OPERATING PROFIT |
|
|
|
|
|
|
|
||||||
Industrial Precision Solutions |
$ |
95,712 |
|
|
|
|
$ |
109,098 |
|
|
|
||
Medical and Fluid Solutions |
|
40,936 |
|
|
|
|
|
46,100 |
|
|
|
||
Advanced Technology Solutions |
|
18,123 |
|
|
|
|
|
18,304 |
|
|
|
||
Corporate |
|
(13,824 |
) |
|
|
|
|
(14,067 |
) |
|
|
||
Total operating profit |
$ |
140,947 |
|
|
|
|
$ |
159,435 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
OPERATING PROFIT ADJUSTMENTS (1) |
|
|
|
|
|||||||||
Industrial Precision Solutions |
$ |
4,611 |
|
|
|
|
$ |
3,541 |
|
|
|
||
Medical and Fluid Solutions |
|
5,255 |
|
|
|
|
|
— |
|
|
|
||
Corporate |
|
260 |
|
|
|
|
|
— |
|
|
|
||
Total adjustments |
$ |
10,126 |
|
|
|
|
$ |
3,541 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
DEPRECIATION & AMORTIZATION |
|
|
|
|
|
|
|||||||
Industrial Precision Solutions |
$ |
12,453 |
|
|
|
|
$ |
12,920 |
|
|
|
||
Medical and Fluid Solutions |
|
18,141 |
|
|
|
|
|
13,705 |
|
|
|
||
Advanced Technology Solutions |
|
4,648 |
|
|
|
|
|
4,901 |
|
|
|
||
Corporate |
|
1,788 |
|
|
|
|
|
2,018 |
|
|
|
||
Total depreciation & amortization |
$ |
37,030 |
|
|
|
|
$ |
33,544 |
|
|
|
||
|
|
|
|
|
|
|
|
||||||
EBITDA (NON-GAAP) (2) |
|
|
|
|
|
|
|
||||||
Industrial Precision Solutions |
$ |
112,776 |
|
|
38 |
% |
|
$ |
125,559 |
|
|
37 |
% |
Medical and Fluid Solutions |
|
64,332 |
|
|
33 |
% |
|
|
59,805 |
|
|
37 |
% |
Advanced Technology Solutions |
|
22,771 |
|
|
19 |
% |
|
|
23,205 |
|
|
17 |
% |
Corporate |
|
(11,776 |
) |
|
|
|
|
(12,049 |
) |
|
|
||
Total EBITDA |
$ |
188,103 |
|
|
31 |
% |
|
$ |
196,520 |
|
|
31 |
% |
|
|
|
|
|
|
|
|
||||||
(1) Represents severance as well as fees and non-cash inventory charges associated with acquisitions. |
|||||||||||||
(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as severance, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization. |
|||||||||||||
NORDSON CORPORATION |
|||||||
RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED NET INCOME AND EARNINGS PER SHARE (Unaudited) |
|||||||
(Dollars in thousands) |
|||||||
|
|
||||||
|
Three Months Ended |
||||||
|
January 31,
|
|
January 31,
|
||||
GAAP AS REPORTED |
|
|
|
||||
Operating profit |
$ |
140,947 |
|
|
$ |
159,435 |
|
Other / interest expense - net |
|
(24,092 |
) |
|
|
(20,736 |
) |
Net income |
|
94,652 |
|
|
|
109,572 |
|
Diluted earnings per share |
$ |
1.65 |
|
|
$ |
1.90 |
|
|
|
|
|
||||
Shares outstanding - diluted |
|
57,486 |
|
|
|
57,555 |
|
|
|
|
|
||||
OPERATING PROFIT ADJUSTMENTS |
|
|
|
||||
Inventory step-up amortization |
$ |
3,135 |
|
|
$ |
2,944 |
|
Acquisition costs |
|
1,030 |
|
|
|
597 |
|
Severance and other |
|
5,961 |
|
|
|
— |
|
|
|
|
|
||||
ACQUISITION AMORTIZATION OF INTANGIBLES |
$ |
19,311 |
|
|
$ |
19,387 |
|
INTEREST |
|
|
|
||||
|
|
|
|
||||
Total adjustments |
$ |
29,437 |
|
|
$ |
22,928 |
|
|
|
|
|
||||
Adjustments net of tax |
$ |
23,844 |
|
|
$ |
18,113 |
|
EPS effect of adjustments and other discrete tax items |
$ |
0.41 |
|
|
$ |
0.31 |
|
|
|
|
|
||||
NON-GAAP MEASURES-ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE |
|
|
|
||||
Adjusted Net income (1) |
$ |
118,496 |
|
|
$ |
127,685 |
|
Adjusted Diluted earnings per share (2) |
$ |
2.06 |
|
|
$ |
2.21 |
|
(1) Adjusted net income is a non-GAAP measure defined as net income plus tax effected adjustments and other discrete tax items. |
|||||||
(2) Adjusted earnings per share is a non-GAAP measure defined as GAAP EPS adjusted for tax effected adjustments and other discrete tax items. |
|||||||
NORDSON CORPORATION |
|||
RECONCILIATION OF NON-GAAP MEASURES - OPERATING CASH FLOW TO FREE CASH FLOW (Unaudited) |
|||
(Dollars in thousands) |
|||
|
Year to Date |
||
|
January 31, 2025 |
||
Net cash provided by operating activities |
$ |
159,122 |
|
Additions to property, plant and equipment |
|
(21,399 |
) |
Free Cash Flow - Year to Date (1) |
|
137,723 |
|
|
|
||
Net Income - Year to Date |
$ |
94,652 |
|
Free Cash Flow Conversion (2) |
|
146 |
% |
|
|
||
|
Year to Date |
||
|
January 31, 2024 |
||
Net cash provided by operating activities |
$ |
172,356 |
|
Additions to property, plant and equipment |
|
(7,530 |
) |
Free Cash Flow - Year to Date (1) |
|
164,826 |
|
|
|
||
(1) Free Cash Flow - Year to Date is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Net cash provided by operating activities minus Additions to property, plant and equipment. |
|||
(2) Free Cash Flow Conversion - Year to Date is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Free Cash Flow - Year to Date divided by Net Income - Year to Date. |
|||
NORDSON CORPORATION |
||||||||||||||||||||
Appendix - RECONCILIATION OF NON-GAAP MEASURES - EBITDA (Unaudited) |
||||||||||||||||||||
Amounts recast for Industrial Precision Solutions and Advanced Technology Solutions Segment Change |
||||||||||||||||||||
(Dollars in thousands) |
||||||||||||||||||||
|
|
|
|
|
||||||||||||||||
|
|
Three Months Ended |
|
Twelve Months Ended |
||||||||||||||||
|
|
January 31,
|
|
April 30,
|
July 31,
|
|
October 31,
|
|
October 31,
|
|||||||||||
SALES BY SEGMENT |
|
|
|
|
|
|
|
|
|
|
||||||||||
Industrial Precision Solutions |
|
$ |
337,742 |
|
|
$ |
344,978 |
|
|
$ |
348,997 |
|
|
$ |
367,195 |
|
|
$ |
1,398,912 |
|
Medical and Fluid Solutions |
|
|
159,526 |
|
|
|
168,966 |
|
|
|
166,737 |
|
|
|
200,223 |
|
|
|
695,452 |
|
Advanced Technology Solutions |
|
|
135,925 |
|
|
|
136,698 |
|
|
|
145,870 |
|
|
|
177,064 |
|
|
|
595,557 |
|
Total sales |
|
$ |
633,193 |
|
|
$ |
650,642 |
|
|
$ |
661,604 |
|
|
$ |
744,482 |
|
|
$ |
2,689,921 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
OPERATING PROFIT |
|
|
|
|
|
|
|
|
|
|
||||||||||
Industrial Precision Solutions |
|
$ |
109,098 |
|
|
$ |
115,922 |
|
|
$ |
115,023 |
|
|
$ |
121,761 |
|
|
$ |
461,804 |
|
Medical and Fluid Solutions |
|
|
46,100 |
|
|
|
48,993 |
|
|
|
48,374 |
|
|
|
44,264 |
|
|
|
187,731 |
|
Advanced Technology Solutions |
|
|
18,304 |
|
|
|
20,693 |
|
|
|
26,032 |
|
|
|
37,957 |
|
|
|
102,986 |
|
Corporate |
|
|
(14,067 |
) |
|
|
(16,992 |
) |
|
|
(22,371 |
) |
|
|
(25,090 |
) |
|
|
(78,520 |
) |
Total operating profit |
|
$ |
159,435 |
|
|
$ |
168,616 |
|
|
$ |
167,058 |
|
|
$ |
178,892 |
|
|
$ |
674,001 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
OPERATING PROFIT ADJUSTMENTS (1) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Industrial Precision Solutions |
|
$ |
3,541 |
|
|
$ |
— |
|
|
$ |
2,536 |
|
|
$ |
1,700 |
|
|
$ |
7,777 |
|
Medical and Fluid Solutions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
10,761 |
|
|
|
10,761 |
|
Advanced Technology Solutions |
|
|
— |
|
|
|
2,078 |
|
|
|
— |
|
|
|
5,016 |
|
|
|
7,094 |
|
Corporate |
|
|
— |
|
|
|
— |
|
|
|
5,160 |
|
|
|
8,200 |
|
|
|
13,360 |
|
Total adjustments |
|
$ |
3,541 |
|
|
$ |
2,078 |
|
|
$ |
7,696 |
|
|
$ |
25,677 |
|
|
$ |
38,992 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
DEPRECIATION & AMORTIZATION |
|
|
|
|
|
|
|
|
|
|
||||||||||
Industrial Precision Solutions |
|
$ |
12,920 |
|
|
$ |
12,437 |
|
|
$ |
13,048 |
|
|
$ |
12,783 |
|
|
$ |
51,188 |
|
Medical and Fluid Solutions |
|
|
13,705 |
|
|
|
13,564 |
|
|
|
13,553 |
|
|
|
17,239 |
|
|
|
58,061 |
|
Advanced Technology Solutions |
|
|
4,901 |
|
|
|
4,767 |
|
|
|
4,841 |
|
|
|
4,592 |
|
|
|
19,101 |
|
Corporate |
|
|
2,018 |
|
|
|
1,952 |
|
|
|
1,940 |
|
|
|
1,915 |
|
|
|
7,825 |
|
Total depreciation & amortization |
|
$ |
33,544 |
|
|
$ |
32,720 |
|
|
$ |
33,382 |
|
|
$ |
36,529 |
|
|
$ |
136,175 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
EBITDA (NON-GAAP) (2) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Industrial Precision Solutions |
|
$ |
125,559 |
|
|
$ |
128,359 |
|
|
$ |
130,607 |
|
|
$ |
136,244 |
|
|
$ |
520,769 |
|
Medical and Fluid Solutions |
|
|
59,805 |
|
|
|
62,557 |
|
|
|
61,927 |
|
|
|
72,264 |
|
|
|
256,553 |
|
Advanced Technology Solutions |
|
|
23,205 |
|
|
|
27,538 |
|
|
|
30,873 |
|
|
|
47,565 |
|
|
|
129,181 |
|
Corporate |
|
|
(12,049 |
) |
|
|
(15,040 |
) |
|
|
(15,271 |
) |
|
|
(14,975 |
) |
|
|
(57,335 |
) |
Total EBITDA |
|
$ |
196,520 |
|
|
$ |
203,414 |
|
|
$ |
208,136 |
|
|
$ |
241,098 |
|
|
$ |
849,168 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
(1) Represents severance as well as fees and non-cash inventory charges associated with acquisitions. |
||||||||||||||||||||
(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as severance, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization. |
||||||||||||||||||||
Management uses certain non-GAAP measures, such as adjusted net income, adjusted EPS and EBITDA, internally to make strategic decisions, forecast future results, and evaluate the Company's current performance. Given management's use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in the Company's core business across different time periods. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to other companies' non-GAAP financial measures, even if they have similar names. Amounts may not add due to rounding.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250219407503/en/
Lara Mahoney
Vice President, Investor Relations & Corporate Communications
440.204.9985
Lara.Mahoney@nordson.com
Source: Nordson Corporation
FAQ
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What was Nordson's (NDSN) EBITDA margin in Q1 2025?
