Nordson's (NDSN) Q4 Earnings Surpass Estimates, Rise Y/Y
Zacks Investment Research | Dec 11, 2019 09:14PM ET
Nordson Corporation (NASDAQ:NDSN) fourth-quarter fiscal 2019 (ended Oct 31, 2019) earnings beat expectations, the positive earnings surprise being 1.1%.
Adjusted earnings, excluding one-time charges and gains, were $1.79 per share, surpassing the Zacks Consensus Estimate of $1.77. Also, the bottom line increased 24.3% from the year-ago figure of $1.44 primarily due to higher sales, fall in net interest expenses and lower share count.
For fiscal 2019, Nordson’s adjusted earnings per share were $5.87, down 1.2% from the year-ago figure of $5.94.
Inside the Headlines
In the reported quarter, Nordson’s sales were $585.5 million, increasing 2.8% year over year. The top line gained from 4% increase in organic volume, partially offset by 1% adverse impact of unfavorable movements in foreign currencies. However, revenues missed the Zacks Consensus Estimate of $605 million. At the quarter end, backlog was $385 million, down 1% year over year.
On a regional basis, revenues from the United States increased 12% year over year to $206.9 million. Revenues generated from Japan increased 7.8% to $37.2 million while that from the Asia Pacific improved 17.3% to $150.9 million. Revenues from Europe decreased 16.5% to $145.9 million and that from the Americas declined 4.7% to $44.5 million.
The company reports top-line results under three segments — Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems. A brief discussion on the segmental performance for the quarter is provided below:
Adhesive Dispensing Systems’ revenues totaled $253.7 million, increasing 1.1% year over year. The improvement was driven by 3% increase in volume, partially offset by 2% adverse impact of foreign currency translation.
Advanced Technology Systems’ revenues were $249 million, down 0.5% year over year. The fall was due to 1% adverse impact of foreign currency movements, and about 1% decrease in volume.
Revenues generated from Industrial Coating Systems increased 21.3% year over year to $82.8 million. Volume increased 22% while foreign currency movements had a negative impact of 1%.
For fiscal 2019, the company’s sales were $2,194.2 million, decreasing 2.7% year over year.
Nordson Corporation Price, Consensus and EPS Surprise
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