Nordson beats quarterly revenue estimates helped by growth in medical business
May 28 - Dispensing equipment maker Nordson NDSN.O beat Wall Street estimates for second-quarter revenue and profit on Wednesday, helped by growth in its medical and fluid solutions business.
Shares of the Westlake, Ohio-based manufacturer rose more than 3% in extended trading.
The medical and fluid solutions unit, which accounted for about 26% of Nordson's total revenue in 2024, benefited from the company's May 2024 acquisition of Atrion, a supplier of medical devices and components to specialized healthcare markets.
Atrion drove a 30% increase in sales in the segment, helping offset a 10% decline in organic sales. As a result, total sales in the segment grew 20% to $203 million in the quarter.
The company reported second-quarter revenue of $683 million, exceeding analysts' estimates of $674 million, according to data compiled by LSEG.
Nordson reported adjusted earnings of $2.42 per share for the quarter ended April 30, surpassing estimates of $2.36 per share.
It forecast third-quarter profit between $2.55 and $2.75 apiece, compared to estimates of $2.57 per share.
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