Nordson Corporation (NASDAQ: NDSN), which designs and manufactures dispensing equipment for consumer and industrial adhesives and sealants, has reported a decline in earnings for the second quarter of 2024 when sales remained broadly unchanged year-over-year.
- Q2 sales were $651 million, compared to $650 million reported in the second quarter of the previous year
- Net income decreased to $118 million or $2.05 per share in the April quarter from $128 million or $2.21 per share in Q2 2023
- Adjusted net income was $135 million, a decrease from the prior year’s adjusted net income of $141 million
- Second-quarter adjusted net income, on a per-share basis, dropped 4% annually to $2.34 from $2.45 last year
- EBITDA came in at $203 million in Q2, or 31% of sales, compared to prior year EBITDA of $203 million, or 31% of sales
- For fiscal 2024, the management expects adjusted earnings per share to be in the range of $9.35 to $9.75
- Third-quarter sales are forecasted in the range of $645 to $670 million, with adjusted earnings in the range of $2.25 to $2.40 per share