Nordson Sees Q3 EPS $2.25-$2.40.; Revenue $645M-$670M Vs $705.06M Est.; FY24 EPS $9.35-$9.75 Vs Est.; Revenue Flat To 2% Growth YoY Vs $2.77B Est
Portfolio Pulse from Benzinga Newsdesk
Nordson Corporation has updated its financial guidance for Q3 and FY24. The company expects Q3 EPS to be between $2.25 and $2.40, with revenue ranging from $645 million to $670 million, which is below the estimated $705.06 million. For FY24, EPS is projected to be between $9.35 and $9.75, with revenue growth flat to 2% year-over-year, also below the estimated $2.77 billion. The company cites temporary pressures in the electronics and agriculture markets but remains confident in its long-term growth strategy.
May 20, 2024 | 8:34 pm
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Nordson Corporation has revised its Q3 and FY24 financial guidance, projecting lower-than-expected revenue and EPS. The company faces temporary pressures in the electronics and agriculture markets but remains confident in its long-term growth strategy.
Nordson's revised guidance indicates lower-than-expected revenue and EPS for both Q3 and FY24, which is likely to negatively impact the stock price in the short term. The company cites temporary pressures in key markets, but maintains confidence in its long-term strategy.
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