Nordson Q2 sales flat at $651M, EPS $2.05; cuts FY24 EPS guidance to $9.35-9.75

NORDSON CORP

2024-Q2 EPS reported $3.95 revenue$1,283,835,000

Q2 sales $651M (flat YoY); organic sales down 4%, acquisitions add 5%. Net income $118M ($2.05 EPS), down from $128M ($2.21 EPS). Adjusted EPS $2.34 vs $2.45.
Segment: IPS sales +9% to $367M; MFS +2% to $169M; ATS -22% to $115M on electronics weakness.
EBITDA $203M (31% of sales), flat YoY; gross margins improved but higher SG&A from ARAG acquisition.
FY24 revenue guidance reduced to flat to +2% growth; adjusted EPS guidance cut to $9.35-9.75. Q3 guidance: sales $645-670M, adj. EPS $2.25-2.40.
Backlog ~$700M, normalizing; CEO cites temporary electronics and agriculture headwinds.

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