Q3 2024 Nordson Corp Earnings Call Transcript
Key Points
- Nordson Corp (NDSN) reported third-quarter sales of $662 million, in line with expectations and driven by strong organic growth in the IPS segment.
- The company achieved a top-quartile EBITDA margin of over 31%, reflecting effective cost management and a favorable product mix.
- Free cash flow for the quarter was $143 million, representing 122% of net income, showcasing strong cash generation.
- The recent acquisition of Atrion Medical is expected to expand Nordson's addressable market in medical fluid components by over 50%.
- Nordson Corp (NDSN) maintained its full-year adjusted earnings per share guidance, reflecting confidence in its diversified portfolio and strategic initiatives.
- The electronics segment experienced continued softness, impacting overall sales growth.
- Medical and fluid solutions sales decreased by 2% year-over-year due to lower demand in certain product lines.
- Net interest expense increased by approximately $6 million due to higher debt levels associated with the ARAG acquisition.
- The advanced technology solutions segment saw an 11% decrease in sales compared to the prior year, driven by declines in electronics processing and X-ray product lines.
- The company faces challenging demand conditions in select end markets, particularly in medical interventional solutions and certain fluid component product lines.
Thank you for standing by, and welcome to the Nordson Corporation third-quarter fiscal year 2024 conference call. (Operator Instructions) Thank you.
I'd now like to turn the call over to Lara Mahoney. Please begin.
Thank you. Good morning. This is Lara Mahoney, Vice President of Investor Relations and Corporate Communications. I'm here with Sundaram Nagarajan, our President and CEO; and Dan Hopgood, Executive Vice President and Chief Financial Officer.
We welcome you to our conference call today, Thursday, August 22, to report Nordson's fiscal 2024 third-quarter results. You can find both our press release as well as our webcast slide presentation that we will refer to during today's call on our website at www.nordson.com/investors.
This conference call is being broadcast live on our investor website and will be available there for 30 days. There will be a telephone
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