Nordson (NASDAQ:NDSN) reported its Q3 results yesterday, with revenue for the quarter coming in at $649 million, representing a 2% decline compared to the previous year, which fell short of the Street estimate of $664.94 million. The earnings per share (EPS) for the quarter stood at $2.35, slightly above the consensus estimate of $2.32.
CEO Sundaram Nagarajan acknowledged the fiscal third quarter’s challenging environment, marked by persistent demand weakness in the electronics and biopharma end markets. Despite these challenges, the company managed to achieve strong profitability of 32% EBITDA and maintained solid cash flow.
Nordson revised its previously issued revenue growth guidance for the fiscal year 2023, narrowing it to a range of 0% to 2% compared to the previous record fiscal year 2022. Additionally, the company’s adjusted EPS guidance for the full year is expected to fall within the range of $8.90 to $9.05.