Nordson Q3 2021 Earnings Report
Key Takeaways
Nordson Corporation reported record third-quarter results with sales of $647 million, a 20% increase year-over-year. Operating profit increased by 57% to $188 million, and earnings per share rose by 70% to $2.42. The company raised its full-year revenue and earnings guidance, expecting continued strength in order entry and backlog.
Sales were $647 million, a 20% increase over the prior year.
Operating profit was $188 million, a 57% increase over the prior year adjusted operating profit.
Earnings were $2.42 per diluted share, a 70% increase over the prior year adjusted earnings per share.
Increased 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.
Nordson
Nordson
Nordson Revenue by Geographic Location
Forward Guidance
The Company expects full year sales growth in fiscal 2021 to be approximately 11% to 12% over fiscal year 2020. Additionally, the Company is now forecasting full year 2021 earnings per diluted share in the range of $7.75 to $7.95.
Positive Outlook
- Full year sales growth in fiscal 2021 expected to be approximately 11% to 12% over fiscal year 2020.
- Forecasting full year 2021 earnings per diluted share in the range of $7.75 to $7.95.
- Increased guidance midpoint represents a strong second half of 2021 with year-over-year sales growth of 14% and earnings growth of 47%.
- Expecting to enter fiscal 2022 with a backlog approximately 70% greater than the prior year.
- Continued strength in order entry and backlog.
Challenges Ahead
- 3% headwind from the second quarter 2021 divestiture of the screws and barrels product line.
- Customer order patterns have clearly changed in terms of both volume and extended shipment request dates during this dynamic environment.
- External supply chain headwinds.
- External labor headwinds.
- Possible effects of events beyond our control, such as political unrest, acts of terror, natural disasters and pandemics, including the current coronavirus (COVID-19) pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income