Nordson Corporation

Nordson reported third-quarter fiscal 2026 sales of $818 million, up 10% from $742 million a year ago, including 12% organic growth. Adjusted operating profit was a record $226 million, or 28% of sales; EBITDA was a record $262 million, or 32% of sales; and adjusted EPS was a record $3.25, up 19% from $2.73. GAAP net income was $153 million, or $2.73 per share. For the first nine months of fiscal 2026, management said revenue grew 9% and adjusted EPS grew 18% year over year. Full-year guidance was raised to sales of $3.035 billion to $3.075 billion and adjusted EPS of $11.80 to $12.00 per diluted share, with FX assumed neutral in Q4 and tax rate expected near 18%.

CEO Sundaram Nagarajan said the quarter reflected continued momentum from the first half, with all three segments contributing and growth end markets continuing to inflect. He emphasized Nordson’s Ascend Strategy and NBS Next framework, saying the company’s differentiated products, customer intimacy and niche market positioning are driving profitable growth. His tone was confident and constructive, especially on backlog, order entry and the strength of ATS and Medical heading into Q4 and beyond.

CFO Daniel Hopgood highlighted record sales of $818 million, adjusted operating profit of $226 million, EBITDA of $262 million and adjusted EPS of $3.25. He said net interest expense fell to $20 million due to stronger cash generation, lower borrowing costs and a newly launched commercial paper program, while free cash flow was $237 million with 144% conversion on net income excluding the noncash loss. He also noted cash on hand of $113 million, net debt of about $1.6 billion, leverage of 1.7x, and year-to-date returns of $137 million in dividends and $159 million in share repurchases, alongside $40 million of capital projects.

Analysts focused on the 35% backlog increase, asking whether lead times were stretching and what it implied for next year; management said there was no elongation, backlog typically turns over in about six months, and orders were still following normal recurring patterns. Questions also centered on why ATS drove so much of the raise and whether Medical was also accelerating; management said ATS and Medical were the two main upside drivers, with IPS more stable. Another set of questions addressed margins, tariffs and tax rate; management said tariff impact has not been material, margin targets remain unchanged, and an 18% tax rate is the long-term expectation.