Nordson down after forecasting FY 2025 sales, profit below estimates

Nordson

12/12/2024 15:37

(Updates)
    ** Shares of industrial machinery maker Nordson  NDSN.O 
fall as much as 8.2% to $229.03, lowest since Jul. 11
    ** Co forecast FY25 revenue below Street estimates due to
slow recovery in electronics, agriculture markets
    ** Sees FY25 rev of $2.75-$2.87 bln vs. analysts' estimates
of $2.93 bln, per data compiled by LSEG
    ** Expects FY25 adjusted EPS of $9.70-$10.50 vs. est of
$10.41
    ** CEO Sundaram Nagarajan says, late on Wednesday, entering
2025 with a conservative viewpoint, given evolving global
macro-environment
    ** However, Q4 results beat expectations, helped by
favorable impact from acquisitions, currency translation
    ** Four of ten brokerages rate the stock "buy" or higher,
and six "hold"; with a median PT of $286.98 - LSEG data
    ** Up to Wednesday's close, stock has fallen 5.5% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))