Nordson Corporation (NASDAQ: NDSN), a provider of systems for applying adhesives, sealants, and coatings, Tuesday reported financial results for the third quarter of 2023.
- Total sales came in at $649 million in the third quarter, which is down 2% from the prior-year quarter
- Operating profit was $171 million in the July quarter, compared to $184.9 million a year earlier
- Third-quarter EBITDA totaled $208 million, which represents around 32% of sales
- Net income declined to $127.9 million or $2.22 per share in Q3 from $141.8 million or $2.45 per share last year
- Adjusted earnings per share were $2.35, down 6% from the prior-year adjusted earnings per share of $2.49
- Industrial Precision Solutions sales edged down 1% year-over-year to $338 million in Q3; Medical and Fluid Solutions sales dropped 6%
- At $140 million, Advanced Technology Solutions sales were down 3% from the prior-year third quarter