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Nordson Corporation (NASDAQ: NDSN) reported its financial results for the fiscal fourth quarter on Tuesday that topped analysts’ estimates for earnings and revenue despite the ongoing Coronavirus pandemic that has so far infected more than 17 million people in the United States and caused over 300 thousand deaths.
Nordson shares were reported about 2.5% down in after-hours trading on Tuesday. At £146.35 per share, the stock that has been volatile this year is now 20% up year to date after recovering from a low of £73.88 per share in March, when the impact of the COVID-19 crisis was at its peak.
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Nordson earns £1.18 per share in the fourth quarter
Adjusted for one-time items, Nordson said that it earned £1.18 per share in the fourth quarter. In the same quarter last year, it had earned a higher £1.33 per share. In comparison, Zacks Consensus Estimate for per-share earnings stood at a lower £1.14.
The Westlake-based company had reported £358.80 million in operating income and £1.63 billion of revenue in fiscal 2019. In separate news from the United States, Eli Lilly said on Tuesday that it will acquire gene therapy specialist Prevail Therapeutics Inc. for £770 million.
In the past four quarters, Nordson has topped estimates for EPS (earnings per share) three times. The American multinational said on Tuesday that it generated £414.90 million of revenue in the quarter that concluded in October. In the comparable quarter of last year, its revenue had registered at a higher £434.90 million.
Nordson’s revenue in Q4 was 0.04% better than the Zacks Consensus Estimate. In the past four quarters, the U.S. manufacturer has topped estimates for revenue three times.
Nordson’s guidance for the fiscal first quarter
For the fiscal first quarter, Nordson now forecasts a 2% to 3% annualised growth in sales. Its estimate for quarterly growth in adjusted earnings stands at 15% to 20%. For the current financial year, Nordson expects £4.78 of earnings per share on £1.67 billion of revenue.
In an announcement in the first week of December, Nordson said it will sell its screws and barrels product line to Altair Investments.
Nordson performed largely upbeat in the stock market last year with an annual gain of close to 40%. At the time of writing, the American multinational corporation is valued at £8.71 billion and has a price to earnings ratio of 35.30.
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