Q2 2024 Nordson Corp Earnings Call Transcript
Key Points
- Nordson Corp (NDSN) reported solid second quarter results with sales of $651 million, driven by the ARAG acquisition and strong performance in industrial coatings and fluid solutions.
- The company achieved a top-quartile EBITDA margin of 31%, reflecting improvements in gross margins and strategic cost adjustments.
- Adjusted earnings per share were $2.34, at the top end of the company's guidance range.
- Nordson Corp (NDSN) generated $108 million in free cash flow, converting 92% of net income into cash flow.
- The company successfully retired nearly $100 million of debt within the quarter, demonstrating strong cash flow management.
- The electronics product lines continued to show weakness, impacting overall sales performance.
- Organic sales decreased by 4%, partially offsetting the growth from the ARAG acquisition.
- Net interest expense increased by $9 million due to higher debt levels and increased interest rates.
- The Advanced Technology Solutions segment saw a 22% decrease in sales compared to the prior year, driven by ongoing weakness in electronics end markets.
- The company revised its full-year revenue guidance to a range of flat to up 2%, reflecting weaker electronics and agriculture end markets.
Thank you for standing by. My name is Eric, and I will be your conference operator today. At this time, I would like to welcome everyone to the Nordson Corporation Second Quarter Fiscal Year 2024 Conference Call. (Operator Instructions).
Thank you. I would now like to turn the call over to Lara Mahoney. Please go ahead.
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 Stephen Shamrock, Chief Accounting Officer. We welcome you to our conference call today, Tuesday, May 21, to report Nordson's fiscal 2024 second 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
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