Nordson beats third-quarter profit estimates on strong industrial business

Nordson

21/08/2024 22:39

Aug 21 (Reuters) - Dispensing equipment maker Nordson
Corp  NDSN.O  beat Wall Street estimates for third-quarter
profit on Wednesday, on strong sales in its industrial business.
    Nordson benefited from increased sales of the company's
tools used for dispensing adhesives, coatings and sealants used
in construction and food packaging.
    The company reported quarterly adjusted profit of $2.41 per
share, above analysts' expectation of $2.33 per share, according
to LSEG data.
    Nordson's largest segment, industrial precision solutions,
posted a 10% yearly increase in quarterly sales offsetting the
decrease in sales in its medical and advanced technology segment
by 2% and 11%, respectively, during the quarter.
    Total sales for the quarter, ended July 31, were $661.6
million, beating LSEG estimate of $656.2 million.
    The Ohio-based company now expects its full year adjusted
earnings to range between  $9.45 and $9.65 per share, compared
with the prior range of $9.35 to $9.75 per share.
    

 (Reporting by Kannaki Deka and Aatreyee Dasgupta in Bengaluru;
Editing by Mohammed Safi Shamsi)
 ((Kannaki.Deka@thomsonreuters.com;))