Manufacturing company Nordson (NASDAQ: NDSN) will be reporting results this Wednesday after market close. Here’s what to look for.
Nordson beat analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $741.5 million, up 12.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Nordson a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Nordson’s revenue to grow 2.3% year on year to $761.8 million, slowing from the 3.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.93 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nordson has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Nordson’s peers in the professional tools and equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Kennametal delivered year-on-year revenue growth of 3.3%, beating analysts’ expectations by 4.3%, and Fortive reported revenues up 2.3%, topping estimates by 1.8%. Kennametal traded up 17.9% following the results while Fortive was also up 4.3%.
Read our full analysis of Kennametal’s results here and Fortive’s results here.
Investors in the professional tools and equipment segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Nordson’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $257.30 (compared to the current share price of $234.43).
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