Nordson Corporation Reports Record Third Quarter Fiscal 2026 Results and
Nordson Corporation Reports Record Third Quarter Fiscal 2026 Results and Increases Full Year Guidance Third Quarter Highlights:
Sales were an all-time quarterly record of $818 million, an increase of 10% year-over-year
Adjusted earnings per diluted share were $3.25, also a quarterly record and up 19% year-over-year
Increasing full year guidance for sales and earnings WESTLAKE, Ohio--(BUSINESS WIRE)--August 19, 2026--Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal third quarter ended July 31, 2026. Sales were a quarterly record of $818 million, an increase of 10% compared to the prior year’s third quarter sales of $742 million. The third quarter 2026 sales included an organic sales increase of approximately 12% driven by growth in all segments. Organic sales growth was partially offset by the net unfavorable impact of a prior year divestiture and an acquisition in the second quarter.
Net income was $153 million, or a record $2.73 of earnings per diluted share, compared to prior year’s third quarter net income of $126 million, or $2.22 of earnings per diluted share. Third quarter 2026 earnings included a non-cash loss on a minority investment recognized during the quarter. Excluding this item and acquisition-related amortization and costs, third quarter adjusted earnings per diluted share were a record $3.25, a 19% increase from the prior year adjusted earnings per diluted share of $2.73.
Third quarter EBITDA reached an all-time quarterly record of $262 million, or 32% of sales, an increase of 10% compared to prior year EBITDA of $239 million, also at 32% of sales.
Commenting on the Company’s fiscal 2026 third quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “The strong momentum of the first half continued through the third quarter, delivering results above the high-end of our most recent earnings guidance. The team’s strong execution of the Ascend Strategy, combined with our diversified portfolio, differentiated precision technology and operational excellence, positioned us to deliver record sales in all three segments while maintaining our best-in-class margin performance. In addition, strong free cash flow generation enabled us to further strengthen our balance sheet, return capital to shareholders, and continue investing in the business to support future growth. I want to thank our global employees for delivering on the needs of our customers and achieving another outstanding quarter.”
Record third quarter Industrial Precision Solutions sales of $367 million increased 5% from the prior year, inclusive of an organic sales increase of 3%, favorable currency translation of 1%, and an acquisition contribution of 1%. The organic sales increase was driven by strength in packaging, industrial coatings, polymer processing and nonwovens product lines. EBITDA in the quarter was $130 million, or 35% of sales, in line with prior year third quarter EBITDA of $130 million.
Medical and Fluid Solutions sales of $231 million, an all-time quarterly record, increased 5% compared to the prior year third quarter. Excluding the divestiture of the contract manufacturing business, organic sales increased 11%. The organic sales increase was driven by growth in engineered fluid solutions and medical product lines related to end market demand. EBITDA in the quarter was also a segment record $88 million, or 38% of sales, up 6% from the prior year third quarter EBITDA of $83 million.
Record quarterly Advanced Technology Solutions sales of $220 million increased 28% compared to the prior year third quarter, inclusive of an organic sales increase of 31% and unfavorable currency translation of 3%. The organic sales increase was driven by strong growth in electronics dispense and test and inspection product lines. EBITDA in the quarter was a segment record $66 million, or 30% of sales, up 58% from the prior year third quarter EBITDA of $42 million. 1
The Company enters the fourth quarter with strong demand momentum and increased backlog, up 35% over the prior year.
Based on the continuing momentum of our end markets as evidenced by our backlog and order entry, the Company is increasing its full year guidance. Sales are now expected to be in the range of $3,035 to $3,075 million and adjusted earnings to be in the range of $11.80 to $12.00 per diluted share.
Reflecting on the full year outlook, Mr. Nagarajan said, “Based on backlog and order entry momentum, we expect the strong sales of the first nine months to continue through the fourth quarter. This puts us on track to achieve over $3 billion in annual revenue for the full year. We are delivering above-market organic growth through accelerating demand in key end markets. Our differentiated technology, close to the customer business model and the execution of the NBS Next growth framework have positioned us well to compound profitable growth this year and into the future.”
Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, August 20, 2026, at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. Information about Nordson’s investor relations and shareholder services is available from Matt Matejka, senior director, investor relations at (440) 597-8495 or matthew.matejka@nordson.com.
Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic and political conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions and the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements, including changes in tariffs by the U.S. or other nations; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflicts in Europe and the Middle East, acts of terror, natural disasters and pandemics and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release.
Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serve global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com or www.linkedin.com/company/nordson-corporation . 2
(1) Total company EBITDA is a non-GAAP measure. Refer to the reconciliation of non-GAAP measures – net income to EBITDA. 3
Nine Months Ended July 31, 2026 July 31, 2025 ────────────────────────────────────────────────────────────────────────────── Cash flows from operating activities: Net income $ 403,544 $ 332,840 Depreciation and 109,446 112,454 amortization Divestiture and — 12,211 related charges Pension settlement 24,049 — charge Other non-cash items 14,785 12,154 Changes in operating assets and 18,649 46,605 liabilities and other Net cash provided by operating 570,473 516,264 activities Cash flows from investing activities: Additions to property, plant and -40,313 -49,002 equipment Acquisition of business, net of -11,643 — cash acquired Other - net -3,513 4,272 Net cash used in -55,469 -44,730 investing activities Cash flows from financing activities: Repayment of debt - -258,025 -94,664 net Repayment of finance -5,633 -4,083 lease obligations Dividends paid -137,384 -133,008 Issuance of common 49,143 5,419 shares Purchase of treasury -158,792 -218,194 shares Net cash used in -510,691 -444,530 financing activities Effect of exchange 676 4,832 rate change on cash: Net change in cash 4,989 31,836 and cash equivalents Cash and cash equivalents: Beginning of period 108,442 115,952 End of period $ 113,431 $ 147,788
(1) Represents non-recurring cost reduction actions as well as fees and non-cash inventory charges associated with acquisitions.
(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as non-recurring cost reduction actions, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization. 8
RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED NET INCOME AND EARNINGS PER SHARE (Unaudited)
(1) Represents non-recurring cost reduction actions as well as fees and non-cash inventory charges associated with acquisitions. (2) Represents non-cash loss on minority investments accounted for at fair value. (3) Adjusted net income is a non-GAAP measure defined as net income plus tax effected adjustments and other discrete tax items.
(4) Adjusted earnings per share is a non-GAAP measure defined as GAAP EPS adjusted for tax effected adjustments and other discrete tax items. 9
RECONCILIATION OF NON-GAAP MEASURES - OPERATING CASH FLOW TO FREE CASH FLOW (Unaudited)
July 31, April 30, Year to Date 2026 2026 ────────────────────────────────────────────────────────────────────────────── Net cash provided by $ 570,473 $ 321,101 operating activities Additions to property, -40,313 -27,693 plant and equipment Free cash $ 530,160 $ 293,408 flow(1) Free cash flow - $ 236,752 quarter to date(1) Net income $ 403,544 $ 250,698 Non-cash loss on minority investments 20,552 9,383 and pension charge - after-tax Net income excluding non-cash loss on $ 424,096 $ 260,081 minority investments and pension loss(2) Free cash flow 125 % 113 % conversion… Net income excluding non-cash loss on minority $ 164,015 investments and pension charge - quarter to date(2) Free cash flow conversion 144 % - quarter to date(3) Year to Date July 31, April 30, 2025 2025 Net cash provided by $ 516,264 $ 278,292 operating activities Additions to property, -49,002 -37,439 plant and equipment Free cash $ 467,262 $ 240,853 flow(1) Free cash flow - $ 226,409 quarter to date(1) Net income $ 332,840 $ 207,056 Free cash flow 140 % 116 % conversion… Net income - quarter $ 125,784 to date(2) Free cash flow conversion 180 % - quarter to date(3)
(1) Free cash flow is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Net cash provided by operating activities minus Additions to property, plant and equipment.
(2) Net income excluding non-cash loss on minority investments and pension charge is a non-GAAP measure used by management as an input to the calculation of Free cash flow conversion and is defined as Net income excluding non-cash losses (gains) on minority investments and pension settlement charge.
(3) Free cash flow conversion is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Free cash flow divided by Net income excluding non-cash losses on minority investments and pension settlement charge. 10 Management uses certain non-GAAP measures, such as adjusted net income, adjusted EPS, EBITDA, free cash flow, and free cash flow conversion, internally to make strategic decisions, forecast future results, and evaluate the Company's current performance. Given management's use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in the Company's core business across different time periods. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to other companies' non-GAAP financial measures, even if they have similar names. Amounts may not add due to rounding.
Full text with the tables
Nordson Corporation Reports Record Third Quarter Fiscal 2026 Results and
Increases Full Year Guidance
Third Quarter Highlights:
•
Sales were an all-time quarterly record of $818 million, an increase of 10%
year-over-year
•
Earnings per diluted share were a record $2.73, up 23% year-over-year
•
Adjusted earnings per diluted share were $3.25, also a quarterly record and up
19% year-over-year
•
Continued strength in demand with backlog up 35% compared to prior year
•
Increasing full year guidance for sales and earnings
WESTLAKE, Ohio--(BUSINESS WIRE)--August 19, 2026--Nordson Corporation (Nasdaq:
NDSN) today reported results for the fiscal third quarter ended July 31, 2026.
Sales were a quarterly record of $818 million, an increase of 10% compared to
the prior year’s third quarter sales of $742 million. The third quarter 2026
sales included an organic sales increase of approximately 12% driven by growth
in all segments. Organic sales growth was partially offset by the net
unfavorable impact of a prior year divestiture and an acquisition in the second
quarter.
Net income was $153 million, or a record $2.73 of earnings per diluted share,
compared to prior year’s third quarter net income of $126 million, or $2.22 of
earnings per diluted share. Third quarter 2026 earnings included a non-cash loss
on a minority investment recognized during the quarter. Excluding this item and
acquisition-related amortization and costs, third quarter adjusted earnings per
diluted share were a record $3.25, a 19% increase from the prior year adjusted
earnings per diluted share of $2.73.
Third quarter EBITDA reached an all-time quarterly record of $262 million, or
32% of sales, an increase of 10% compared to prior year EBITDA of $239 million,
also at 32% of sales.
Commenting on the Company’s fiscal 2026 third quarter results, Nordson President
and Chief Executive Officer Sundaram Nagarajan said, “The strong momentum of the
first half continued through the third quarter, delivering results above the
high-end of our most recent earnings guidance. The team’s strong execution of
the Ascend Strategy, combined with our diversified portfolio, differentiated
precision technology and operational excellence, positioned us to deliver record
sales in all three segments while maintaining our best-in-class margin
performance. In addition, strong free cash flow generation enabled us to further
strengthen our balance sheet, return capital to shareholders, and continue
investing in the business to support future growth. I want to thank our global
employees for delivering on the needs of our customers and achieving another
outstanding quarter.”
Third Quarter Segment Results
Record third quarter Industrial Precision Solutions sales of $367 million
increased 5% from the prior year, inclusive of an organic sales increase of 3%,
favorable currency translation of 1%, and an acquisition contribution of 1%. The
organic sales increase was driven by strength in packaging, industrial coatings,
polymer processing and nonwovens product lines. EBITDA in the quarter was $130
million, or 35% of sales, in line with prior year third quarter EBITDA of $130
million.
Medical and Fluid Solutions sales of $231 million, an all-time quarterly record,
increased 5% compared to the prior year third quarter. Excluding the divestiture
of the contract manufacturing business, organic sales increased 11%. The organic
sales increase was driven by growth in engineered fluid solutions and medical
product lines related to end market demand. EBITDA in the quarter was also a
segment record $88 million, or 38% of sales, up 6% from the prior year third
quarter EBITDA of $83 million.
Record quarterly Advanced Technology Solutions sales of $220 million increased
28% compared to the prior year third quarter, inclusive of an organic sales
increase of 31% and unfavorable currency translation of 3%. The organic sales
increase was driven by strong growth in electronics dispense and test and
inspection product lines. EBITDA in the quarter was a segment record $66
million, or 30% of sales, up 58% from the prior year third quarter EBITDA of $42
million.
1
Outlook
The Company enters the fourth quarter with strong demand momentum and increased
backlog, up 35% over the prior year.
Based on the continuing momentum of our end markets as evidenced by our backlog
and order entry, the Company is increasing its full year guidance. Sales are now
expected to be in the range of $3,035 to $3,075 million and adjusted earnings to
be in the range of $11.80 to $12.00 per diluted share.
Reflecting on the full year outlook, Mr. Nagarajan said, “Based on backlog and
order entry momentum, we expect the strong sales of the first nine months to
continue through the fourth quarter. This puts us on track to achieve over $3
billion in annual revenue for the full year. We are delivering above-market
organic growth through accelerating demand in key end markets. Our
differentiated technology, close to the customer business model and the
execution of the NBS Next growth framework have positioned us well to compound
profitable growth this year and into the future.”
Nordson management will provide additional commentary on these results and
outlook during its previously announced webcast on Thursday, August 20, 2026, at
8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com.
Information about Nordson’s investor relations and shareholder services is
available from Matt Matejka, senior director, investor relations at (440)
597-8495 or matthew.matejka@nordson.com.
Certain statements contained in this release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by terminology such as “may,”
“will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,”
“forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of
these terms or comparable terminology. These statements reflect management’s
current expectations and involve a number of risks and uncertainties. These
risks and uncertainties include, but are not limited to, U.S. and international
economic and political conditions; financial and market conditions; currency
exchange rates and devaluations; possible acquisitions and the Company’s ability
to successfully integrate acquisitions; the Company’s ability to successfully
divest or dispose of businesses that are deemed not to fit with its strategic
plan; the effects of changes in U.S. trade policy and trade agreements,
including changes in tariffs by the U.S. or other nations; the effects of
changes in tax law; and the possible effects of events beyond our control, such
as political unrest, including the conflicts in Europe and the Middle East, acts
of terror, natural disasters and pandemics and the other factors discussed in
Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on
Form 10-K and in its Forms 10-Q filed with the Securities and Exchange
Commission, which should be reviewed carefully. The Company undertakes no
obligation to update or revise any forward-looking statement in this press
release.
Nordson Corporation is an innovative precision technology company that leverages
a scalable growth framework through an entrepreneurial, division-led
organization to deliver top tier growth with leading margins and returns. The
Company’s direct sales model and applications expertise serve global customers
through a wide variety of critical applications. Its diverse end market exposure
includes consumer non-durable, medical, electronics and industrial end markets.
Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations
and support offices in over 35 countries. Visit Nordson on the web at
www.nordson.com or www.linkedin.com/company/nordson-corporation .
2
NORDSON CORPORATION
SEGMENT INFORMATION (Unaudited)
(Dollars in thousands)
Th… Ju… Ju… Nine Ju… July
Mo… 31, 31, Mon… 31, 31,
En… 20… 20… End… 20… 2025
──────────────────────────────────────────────────────────────────────────────
S…
I…
P… $ 36… $ 35… $ 1,… $ 970…
S…
M…
a… 23… 21… 63… 615…
F…
S…
A…
T… 21… 17… 54… 453…
S…
T… $ 81… $ 74… $ 2,… $ 2,0…
s…
E…
I…
P… $ 12… 35% $ 13… 37% $ 36… 35% $ 356… 37%
S…
M…
a… 88… 38% 83… 38% 23… 37% 224… 36%
F…
S…
A…
T… 65… 30% 41… 24% 14… 27% 103… 23%
S…
C… -2… -1… -4… -40…
e…
T…
E… $ 26… 32% $ 23… 32% $ 70… 31% $ 643… 32%
(…
(1) Total company EBITDA is a non-GAAP measure. Refer to the reconciliation of
non-GAAP measures – net income to EBITDA.
3
NORDSON CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(Dollars in thousands except for per-share amounts)
Three July July Nine July July
Mont… 31, 31, Months 31, 31,
Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Sales $ 817,6… $ 741,… $ 2,22… $ 2,039…
Cost
of 363,9… 334,… 1,00… 923,5…
sales
Gross 453,7… 406,… 1,22… 1,116…
prof…
Gross
marg… 55.5 % 54.8 % 54.9 % 54.7 %
%
Sell…
and 230,6… 206,… 637,… 606,6…
admi…
expe…
Dive…
and — 12,2… — 12,211
rela…
char…
Oper… 223,0… 187,… 586,… 497,4…
prof…
Inte…
expe… -20,3… -25,… -64,… -77,3…
- net
Pens…
sett… — — -24,… —
char…
Other
expe… -16,7… -2,9… -6,3… -5,380
- net
Inco…
befo… 185,9… 159,… 491,… 414,7…
inco…
taxes
Inco… 33,093 33,3… 88,0… 81,909
taxes
Net $ 152,8… $ 125,… $ 403,… $ 332,8…
inco…
Weig…
comm…
shar…
outs…
Basic 55,714 56,4… 55,7… 56,784
Dilu… 56,027 56,7… 56,0… 57,084
Earn…
per
shar…
Basic $ 2.74 $ 2.23 $ 7.24 $ 5.86
earn…
Dilu… $ 2.73 $ 2.22 $ 7.20 $ 5.83
earn…
4
NORDSON CORPORATION
CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollars in thousands)
July 31, 2026 October 31, 2025
──────────────────────────────────────────────────────────────────────────────
Cash and cash equivalents $ 113,431 $ 108,442
Receivables - net 648,827 587,843
Inventories - net 469,310 444,814
Other current assets 96,300 101,752
Total current assets 1,327,868 1,242,851
Property, plant and equipment - 517,012 516,914
net
Goodwill 3,315,820 3,304,685
Other assets 787,220 853,231
$ 5,947,920 $ 5,917,681
Short term debt and current
maturities $ 202,000 $ 315,000
of long-term debt
Accounts payable and accrued 526,472 443,260
liabilities
Total current liabilities 728,472 758,260
Long-term debt 1,529,005 1,681,254
Other liabilities 421,384 434,596
Total shareholders' equity 3,269,059 3,043,571
$ 5,947,920 $ 5,917,681
5
NORDSON CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
(Dollars in thousands)
Nine Months Ended July 31, 2026 July 31, 2025
──────────────────────────────────────────────────────────────────────────────
Cash flows from
operating
activities:
Net income $ 403,544 $ 332,840
Depreciation and 109,446 112,454
amortization
Divestiture and — 12,211
related charges
Pension settlement 24,049 —
charge
Other non-cash items 14,785 12,154
Changes in operating
assets and 18,649 46,605
liabilities and
other
Net cash provided by
operating 570,473 516,264
activities
Cash flows from
investing
activities:
Additions to
property, plant and -40,313 -49,002
equipment
Acquisition of
business, net of -11,643 —
cash
acquired
Other - net -3,513 4,272
Net cash used in -55,469 -44,730
investing activities
Cash flows from
financing
activities:
Repayment of debt - -258,025 -94,664
net
Repayment of finance -5,633 -4,083
lease obligations
Dividends paid -137,384 -133,008
Issuance of common 49,143 5,419
shares
Purchase of treasury -158,792 -218,194
shares
Net cash used in -510,691 -444,530
financing activities
Effect of exchange 676 4,832
rate change on cash:
Net change in cash 4,989 31,836
and cash equivalents
Cash and cash
equivalents:
Beginning of period 108,442 115,952
End of period $ 113,431 $ 147,788
6
NORDSON CORPORATION
SALES BY GEOGRAPHIC SEGMENT (Unaudited)
(Dollars in thousands)
T… J… J… A…
M… 3… 3… S… /
E… 2… 2… V… O… D… C… T…
──────────────────────────────────────────────────────────────────────────────
…
…
…
…
… $ 3… $ 3… 3… % 0… % 0… % 4… %
…
…
… 2… 2… 1… % -… % — % 5… %
…
…
…
… 2… 1… 3… % — % -… % 2… %
…
… $ 8… $ 7… 1… % -… % -… % 1… %
…
…
…
…
…
… $ 3… $ 3… 7… % -… % 0… % 5… %
… 1… 1… 3… % -… % 0… % 3… %
… 2… 2… 2… % -… % -… % 2… %
…
… $ 8… $ 7… 1… % -… % -… % 1… %
…
N… S…
M… V…
E…
J… J… Ac…
3… 3… O… / Cu… To…
2… 2… Di…
…
…
…
…
… $ 1… $ 9… 3… % 0… % 3… % 7… %
…
…
… 6… 6… 7… % -… % 0… % 3… %
…
…
…
… 5… 4… 2… % — % 0… % 2… %
…
… $ 2… $ 2… 8… % -… % 2… % 9… %
…
…
…
…
…
… $ 9… $ 8… 4… % -… % 0… % 3… %
… 5… 5… 3… % -… % 5… % 8… %
… 7… 6… 1… % -… % 0… % 1… %
…
… $ 2… $ 2… 8… % -… % 2… % 9… %
…
7
NORDSON CORPORATION
RECONCILIATION OF NON-GAAP MEASURES - NET INCOME TO EBITDA (Unaudited)
(Dollars in thousands)
Three July July Nine July
Months 31, 31, Months 31, July 31,
Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 152,846 $ 125,784 $ 403,544 $ 332,840
income
Income 33,093 33,340 88,070 81,909
taxes
Inter…
expen… 20,359 25,698 64,680 77,335
- net
Pensi…
settl… — — 24,049 —
charge
Other
expen… 16,794 2,945 6,357 5,380
- net
Inven…
step-… 2,269 — 3,404 3,135
amort…
Sever…
and — 451 — 16,725
other…
Acqui… 576 235 1,110 1,778
costs…
Dives…
and — 12,211 — 12,211
relat…
charg…
Adjus…
opera… 225,937 200,664 591,214 531,313
profit
Depre…
and 36,546 37,847 109,446 112,454
amort…
EBITDA $ 262,483 $ 238,511 $ 700,660 $ 643,767
(non-…
(1) Represents non-recurring cost reduction actions as well as fees and non-cash
inventory charges associated with acquisitions.
(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's
ongoing operations. EBITDA is defined as operating profit plus certain
adjustments, such as non-recurring cost reduction actions, fees and non-cash
inventory charges associated with acquisitions, plus depreciation and
amortization.
8
NORDSON CORPORATION
RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED NET INCOME AND EARNINGS PER SHARE
(Unaudited)
(Dollars in thousands)
Three July July Nine July
Months 31, 31, Months 31, July 31,
Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
GAAP
AS
REPOR…
Net $ 152,846 $ 125,784 $ 403,544 $ 332,840
income
Dilut…
earni… $ 2.73 $ 2.22 $ 7.20 $ 5.83
per
share
Shares
outst… 56,027 56,728 56,084 57,084
-
dilut…
ADJUS…
Inven…
step-… $ 2,269 $ — $ 3,404 $ 3,135
amort…
Acqui… 576 235 1,110 1,778
costs…
Sever…
and — 451 — 16,725
other…
Acqui…
amort… 19,345 20,092 58,320 59,099
of
intan…
Entity — — — 988
liqui…
Non-c…
loss
on 14,892 — 2,481 —
minor…
inves…
Pensi…
settl… — — 24,049 —
charge
Total $ 37,082 $ 32,989 $ 89,364 $ 93,936
adjus…
Adjus…
net of $ 29,364 $ 29,084 $ 72,075 $ 78,451
tax
EPS
effect $ 0.52 $ 0.51 $ 1.29 $ 1.37
of
adjus…
NON-G…
Adjus…
net $ 182,210 $ 154,868 $ 475,619 $ 411,291
incom…
Adjus…
earni… $ 3.25 $ 2.73 $ 8.48 $ 7.20
per
share…
(1) Represents non-recurring cost reduction actions as well as fees and non-cash
inventory charges associated with acquisitions.
(2) Represents non-cash loss on minority investments accounted for at fair
value.
(3) Adjusted net income is a non-GAAP measure defined as net income plus tax
effected adjustments and other discrete tax items.
(4) Adjusted earnings per share is a non-GAAP measure defined as GAAP EPS
adjusted for tax effected adjustments and other discrete tax items.
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NORDSON CORPORATION
RECONCILIATION OF NON-GAAP MEASURES - OPERATING CASH FLOW TO FREE CASH FLOW
(Unaudited)
(Dollars in thousands)
July 31, April 30,
Year to Date 2026 2026
──────────────────────────────────────────────────────────────────────────────
Net cash
provided by $ 570,473 $ 321,101
operating
activities
Additions
to
property, -40,313 -27,693
plant and
equipment
Free cash $ 530,160 $ 293,408
flow(1)
Free cash
flow - $ 236,752
quarter to
date(1)
Net income $ 403,544 $ 250,698
Non-cash
loss on
minority
investments 20,552 9,383
and pension
charge -
after-tax
Net income
excluding
non-cash
loss on $ 424,096 $ 260,081
minority
investments
and pension
loss(2)
Free cash
flow 125 % 113 %
conversion…
Net income
excluding
non-cash
loss on
minority $ 164,015
investments
and pension
charge
- quarter
to date(2)
Free cash
flow
conversion 144 %
- quarter
to
date(3)
Year to Date
July 31, April 30,
2025 2025
Net cash
provided by $ 516,264 $ 278,292
operating
activities
Additions
to
property, -49,002 -37,439
plant and
equipment
Free cash $ 467,262 $ 240,853
flow(1)
Free cash
flow - $ 226,409
quarter to
date(1)
Net income $ 332,840 $ 207,056
Free cash
flow 140 % 116 %
conversion…
Net income
- quarter $ 125,784
to date(2)
Free cash
flow
conversion 180 %
- quarter
to
date(3)
(1) Free cash flow is a non-GAAP measure used by management to evaluate the
Company's ongoing operations and is defined as Net cash provided by operating
activities minus Additions to property, plant and equipment.
(2) Net income excluding non-cash loss on minority investments and pension
charge is a non-GAAP measure used by management as an input to the calculation
of Free cash flow conversion and is defined as Net income excluding non-cash
losses (gains) on minority investments and pension settlement charge.
(3) Free cash flow conversion is a non-GAAP measure used by management to
evaluate the Company's ongoing operations and is defined as Free cash flow
divided by Net income excluding non-cash losses on minority investments and
pension settlement charge.
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Management uses certain non-GAAP measures, such as adjusted net income, adjusted
EPS, EBITDA, free cash flow, and free cash flow conversion, internally to make
strategic decisions, forecast future results, and evaluate the Company's current
performance. Given management's use of these non-GAAP measures, the Company
believes these measures are important to investors in understanding the
Company's current and future operating results as seen through the eyes of
management. In addition, management believes these non-GAAP measures are useful
to investors in enabling them to better assess changes in the Company's core
business across different time periods. Because non-GAAP financial measures are
not standardized, it may not be possible to compare these financial measures to
other companies' non-GAAP financial measures, even if they have similar names.
Amounts may not add due to rounding.
Contact
Matt Matejka
Senior Director
Investor Relations
(440) 597-8495
Matthew.Matejka@nordson.com
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