NDSN 8-K
Nordson Corp (NDSN)
8-K
2026-08-19
For: 2026-08-19
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August 19, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 19, 2026
(Exact Name of Registrant as Specified in its Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
(Address of Principal Executive Offices, including Zip Code) | ||
Registrant’s Telephone Number, including Area Code: 440 -892-1580
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange On Which Registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On August 19, 2026 , Nordson Corporation issued a press release relating to its results of operations for the third quarter of fiscal 2026. A copy is attached as Exhibit 99.1.
Item 7.01. Regulation FD Disclosure.
Nordson Corporation will provide additional commentary on third quarter fiscal 2026 results and outlook during a webcast on Thursday, August 20, 2026 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. For persons unable to listen to the live broadcast, a replay will be available after the event.
As provided in General Instruction B.2 of Form 8-K, the information contained in Items 2.02 and 7.01 of this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall any such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Press release of Nordson Corporation dated | ||||||||
104 | Cover Page Interactive Data File (embedded within the inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| NORDSON CORPORATION | |||||||||||
| Date: | August 19, 2026 | By: | /s/ Joseph Rutledge | ||||||||
| Joseph Rutledge | |||||||||||
| Chief Accounting Officer | |||||||||||
Nordson Corporation Reports Record Third Quarter Fiscal 2026 Results and Increases Full Year Guidance
Third Quarter Highlights:
•Sales were an all-time quarterly record of $818 million, an increase of 10% year-over-year
•Earnings per diluted share were a record $2.73, up 23% year-over-year
•Adjusted earnings per diluted share were $3.25, also a quarterly record and up 19% year-over-year
•Continued strength in demand with backlog up 35% compared to prior year
•Increasing full year guidance for sales and earnings
WESTLAKE, Ohio--(BUSINESS WIRE)--August 19, 2026--Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal third quarter ended July 31, 2026. Sales were a quarterly record of $818 million, an increase of 10% compared to the prior year’s third quarter sales of $742 million. The third quarter 2026 sales included an organic sales increase of approximately 12% driven by growth in all segments. Organic sales growth was partially offset by the net unfavorable impact of a prior year divestiture and an acquisition in the second quarter.
Net income was $153 million, or a record $2.73 of earnings per diluted share, compared to prior year’s third quarter net income of $126 million, or $2.22 of earnings per diluted share. Third quarter 2026 earnings included a non-cash loss on a minority investment recognized during the quarter. Excluding this item and acquisition-related amortization and costs, third quarter adjusted earnings per diluted share were a record $3.25, a 19% increase from the prior year adjusted earnings per diluted share of $2.73.
Third quarter EBITDA reached an all-time quarterly record of $262 million, or 32% of sales, an increase of 10% compared to prior year EBITDA of $239 million, also at 32% of sales.
Commenting on the Company’s fiscal 2026 third quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “The strong momentum of the first half continued through the third quarter, delivering results above the high-end of our most recent earnings guidance. The team’s strong execution of the Ascend Strategy, combined with our diversified portfolio, differentiated precision technology and operational excellence, positioned us to deliver record sales in all three segments while maintaining our best-in-class margin performance. In addition, strong free cash flow generation enabled us to further strengthen our balance sheet, return capital to shareholders, and continue investing in the business to support future growth. I want to thank our global employees for delivering on the needs of our customers and achieving another outstanding quarter.”
Third Quarter Segment Results
Record third quarter Industrial Precision Solutions sales of $367 million increased 5% from the prior year, inclusive of an organic sales increase of 3%, favorable currency translation of 1%, and an acquisition contribution of 1%. The organic sales increase was driven by strength in packaging, industrial coatings, polymer processing and nonwovens product lines. EBITDA in the quarter was $130 million, or 35% of sales, in line with prior year third quarter EBITDA of $130 million.
Medical and Fluid Solutions sales of $231 million, an all-time quarterly record, increased 5% compared to the prior year third quarter. Excluding the divestiture of the contract manufacturing business, organic sales increased 11%. The organic sales increase was driven by growth in engineered fluid solutions and medical product lines related to end market demand. EBITDA in the quarter was also a segment record $88 million, or 38% of sales, up 6% from the prior year third quarter EBITDA of $83 million.
Record quarterly Advanced Technology Solutions sales of $220 million increased 28% compared to the prior year third quarter, inclusive of an organic sales increase of 31% and unfavorable currency translation of 3%. The organic sales increase was driven by strong growth in electronics dispense and test and inspection product lines. EBITDA in the quarter was a segment record $66 million, or 30% of sales, up 58% from the prior year third quarter EBITDA of $42 million.
1
Outlook
The Company enters the fourth quarter with strong demand momentum and increased backlog, up 35% over the prior year.
Based on the continuing momentum of our end markets as evidenced by our backlog and order entry, the Company is increasing its full year guidance. Sales are now expected to be in the range of $3,035 to $3,075 million and adjusted earnings to be in the range of $11.80 to $12.00 per diluted share.
Reflecting on the full year outlook, Mr. Nagarajan said, “Based on backlog and order entry momentum, we expect the strong sales of the first nine months to continue through the fourth quarter. This puts us on track to achieve over $3 billion in annual revenue for the full year. We are delivering above-market organic growth through accelerating demand in key end markets. Our differentiated technology, close to the customer business model and the execution of the NBS Next growth framework have positioned us well to compound profitable growth this year and into the future.”
Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, August 20, 2026, at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. Information about Nordson’s investor relations and shareholder services is available from Matt Matejka, senior director, investor relations at (440) 597-8495 or [email protected].
Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic and political conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions and the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements, including changes in tariffs by the U.S. or other nations; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflicts in Europe and the Middle East, acts of terror, natural disasters and pandemics and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release.
Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serve global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com or www.linkedin.com/company/nordson-corporation.
2
NORDSON CORPORATION
SEGMENT INFORMATION (Unaudited)
(Dollars in thousands)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
| July 31, 2026 | July 31, 2025 | July 31, 2026 | July 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| SALES | |||||||||||||||||||||||||||||||||||||||||||||||
| Industrial Precision Solutions | $ | 367,249 | $ | 350,784 | $ | 1,044,576 | $ | 970,079 | |||||||||||||||||||||||||||||||||||||||
| Medical and Fluid Solutions | 230,538 | 219,465 | 636,571 | 615,883 | |||||||||||||||||||||||||||||||||||||||||||
| Advanced Technology Solutions | 219,880 | 171,260 | 546,828 | 453,905 | |||||||||||||||||||||||||||||||||||||||||||
| Total sales | $ | 817,667 | $ | 741,509 | $ | 2,227,975 | $ | 2,039,867 | |||||||||||||||||||||||||||||||||||||||
| EBITDA | |||||||||||||||||||||||||||||||||||||||||||||||
| Industrial Precision Solutions | $ | 129,900 | 35% | $ | 130,130 | 37% | $ | 363,789 | 35% | $ | 356,453 | 37% | |||||||||||||||||||||||||||||||||||
| Medical and Fluid Solutions | 88,291 | 38% | 83,153 | 38% | 237,690 | 37% | 224,023 | 36% | |||||||||||||||||||||||||||||||||||||||
| Advanced Technology Solutions | 65,695 | 30% | 41,546 | 24% | 146,622 | 27% | 103,833 | 23% | |||||||||||||||||||||||||||||||||||||||
| Corporate expenses | (21,403) | (16,318) | (47,441) | (40,542) | |||||||||||||||||||||||||||||||||||||||||||
Total EBITDA (non-GAAP) (1) | $ | 262,483 | 32% | $ | 238,511 | 32% | $ | 700,660 | 31% | $ | 643,767 | 32% | |||||||||||||||||||||||||||||||||||
(1) Total company EBITDA is a non-GAAP measure. Refer to the reconciliation of non-GAAP measures – net income to EBITDA.
3
NORDSON CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(Dollars in thousands except for per-share amounts)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| July 31, 2026 | July 31, 2025 | July 31, 2026 | July 31, 2025 | ||||||||||||||||||||
| Sales | $ | 817,667 | $ | 741,509 | $ | 2,227,975 | $ | 2,039,867 | |||||||||||||||
| Cost of sales | 363,935 | 334,992 | 1,004,044 | 923,550 | |||||||||||||||||||
| Gross profit | 453,732 | 406,517 | 1,223,931 | 1,116,317 | |||||||||||||||||||
| Gross margin % | 55.5 | % | 54.8 | % | 54.9 | % | 54.7 | % | |||||||||||||||
| Selling and administrative expenses | 230,640 | 206,539 | 637,231 | 606,642 | |||||||||||||||||||
| Divestiture and related charges | — | 12,211 | — | 12,211 | |||||||||||||||||||
| Operating profit | 223,092 | 187,767 | 586,700 | 497,464 | |||||||||||||||||||
| Interest expense - net | (20,359) | (25,698) | (64,680) | (77,335) | |||||||||||||||||||
| Pension settlement charge | — | — | (24,049) | — | |||||||||||||||||||
| Other expense - net | (16,794) | (2,945) | (6,357) | (5,380) | |||||||||||||||||||
| Income before income taxes | 185,939 | 159,124 | 491,614 | 414,749 | |||||||||||||||||||
| Income taxes | 33,093 | 33,340 | 88,070 | 81,909 | |||||||||||||||||||
| Net income | $ | 152,846 | $ | 125,784 | $ | 403,544 | $ | 332,840 | |||||||||||||||
| Weighted-average common shares outstanding: | |||||||||||||||||||||||
| Basic | 55,714 | 56,438 | 55,766 | 56,784 | |||||||||||||||||||
| Diluted | 56,027 | 56,728 | 56,084 | 57,084 | |||||||||||||||||||
| Earnings per share: | |||||||||||||||||||||||
| Basic earnings | $ | 2.74 | $ | 2.23 | $ | 7.24 | $ | 5.86 | |||||||||||||||
| Diluted earnings | $ | 2.73 | $ | 2.22 | $ | 7.20 | $ | 5.83 | |||||||||||||||
4
NORDSON CORPORATION
CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollars in thousands)
| July 31, 2026 | October 31, 2025 | ||||||||||
| Cash and cash equivalents | $ | 113,431 | $ | 108,442 | |||||||
| Receivables - net | 648,827 | 587,843 | |||||||||
| Inventories - net | 469,310 | 444,814 | |||||||||
| Other current assets | 96,300 | 101,752 | |||||||||
| Total current assets | 1,327,868 | 1,242,851 | |||||||||
| Property, plant and equipment - net | 517,012 | 516,914 | |||||||||
| Goodwill | 3,315,820 | 3,304,685 | |||||||||
| Other assets | 787,220 | 853,231 | |||||||||
| $ | 5,947,920 | $ | 5,917,681 | ||||||||
| Short term debt and current maturities of long-term debt | $ | 202,000 | $ | 315,000 | |||||||
| Accounts payable and accrued liabilities | 526,472 | 443,260 | |||||||||
| Total current liabilities | 728,472 | 758,260 | |||||||||
| Long-term debt | 1,529,005 | 1,681,254 | |||||||||
| Other liabilities | 421,384 | 434,596 | |||||||||
| Total shareholders' equity | 3,269,059 | 3,043,571 | |||||||||
| $ | 5,947,920 | $ | 5,917,681 | ||||||||
5
NORDSON CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
(Dollars in thousands)
| Nine Months Ended | |||||||||||
| July 31, 2026 | July 31, 2025 | ||||||||||
| Cash flows from operating activities: | |||||||||||
| Net income | $ | 403,544 | $ | 332,840 | |||||||
| Depreciation and amortization | 109,446 | 112,454 | |||||||||
| Divestiture and related charges | — | 12,211 | |||||||||
| Pension settlement charge | 24,049 | — | |||||||||
| Other non-cash items | 14,785 | 12,154 | |||||||||
| Changes in operating assets and liabilities and other | 18,649 | 46,605 | |||||||||
| Net cash provided by operating activities | 570,473 | 516,264 | |||||||||
| Cash flows from investing activities: | |||||||||||
| Additions to property, plant and equipment | (40,313) | (49,002) | |||||||||
| Acquisition of business, net of cash acquired | (11,643) | — | |||||||||
| Other - net | (3,513) | 4,272 | |||||||||
| Net cash used in investing activities | (55,469) | (44,730) | |||||||||
| Cash flows from financing activities: | |||||||||||
| Repayment of debt - net | (258,025) | (94,664) | |||||||||
| Repayment of finance lease obligations | (5,633) | (4,083) | |||||||||
| Dividends paid | (137,384) | (133,008) | |||||||||
| Issuance of common shares | 49,143 | 5,419 | |||||||||
| Purchase of treasury shares | (158,792) | (218,194) | |||||||||
| Net cash used in financing activities | (510,691) | (444,530) | |||||||||
| Effect of exchange rate change on cash: | 676 | 4,832 | |||||||||
| Net change in cash and cash equivalents | 4,989 | 31,836 | |||||||||
| Cash and cash equivalents: | |||||||||||
| Beginning of period | 108,442 | 115,952 | |||||||||
| End of period | $ | 113,431 | $ | 147,788 | |||||||
6
NORDSON CORPORATION
SALES BY GEOGRAPHIC SEGMENT (Unaudited)
(Dollars in thousands)
| Three Months Ended | Sales Variance | ||||||||||||||||||||||||||||||||||
| July 31, 2026 | July 31, 2025 | Organic | Acquisitions / Divestitures | Currency | Total | ||||||||||||||||||||||||||||||
| SALES BY SEGMENT | |||||||||||||||||||||||||||||||||||
| Industrial Precision Solutions | $ | 367,249 | $ | 350,784 | 3.3 | % | 0.9 | % | 0.5 | % | 4.7 | % | |||||||||||||||||||||||
| Medical and Fluid Solutions | 230,538 | 219,465 | 10.6 | % | (5.6) | % | — | % | 5.0 | % | |||||||||||||||||||||||||
| Advanced Technology Solutions | 219,880 | 171,260 | 30.9 | % | — | % | (2.5) | % | 28.4 | % | |||||||||||||||||||||||||
| Total sales | $ | 817,667 | $ | 741,509 | 11.7 | % | (1.2) | % | (0.2) | % | 10.3 | % | |||||||||||||||||||||||
| SALES BY GEOGRAPHIC REGION | |||||||||||||||||||||||||||||||||||
| Americas | $ | 331,471 | $ | 314,568 | 7.3 | % | (2.5) | % | 0.6 | % | 5.4 | % | |||||||||||||||||||||||
| Europe | 192,432 | 186,620 | 3.2 | % | (0.3) | % | 0.2 | % | 3.1 | % | |||||||||||||||||||||||||
| Asia Pacific | 293,764 | 240,321 | 24.1 | % | (0.1) | % | (1.8) | % | 22.2 | % | |||||||||||||||||||||||||
| Total sales | $ | 817,667 | $ | 741,509 | 11.7 | % | (1.2) | % | (0.2) | % | 10.3 | % | |||||||||||||||||||||||
| Nine Months Ended | Sales Variance | ||||||||||||||||||||||||||||||||||
| July 31, 2026 | July 31, 2025 | Organic | Acquisitions / Divestitures | Currency | Total | ||||||||||||||||||||||||||||||
| SALES BY SEGMENT | |||||||||||||||||||||||||||||||||||
| Industrial Precision Solutions | $ | 1,044,576 | $ | 970,079 | 3.8 | % | 0.6 | % | 3.3 | % | 7.7 | % | |||||||||||||||||||||||
| Medical and Fluid Solutions | 636,571 | 615,883 | 7.1 | % | (4.6) | % | 0.9 | % | 3.4 | % | |||||||||||||||||||||||||
| Advanced Technology Solutions | 546,828 | 453,905 | 20.1 | % | — | % | 0.4 | % | 20.5 | % | |||||||||||||||||||||||||
| Total sales | $ | 2,227,975 | $ | 2,039,867 | 8.4 | % | (1.2) | % | 2.0 | % | 9.2 | % | |||||||||||||||||||||||
| SALES BY GEOGRAPHIC REGION | |||||||||||||||||||||||||||||||||||
| Americas | $ | 901,654 | $ | 874,868 | 4.5 | % | (2.3) | % | 0.9 | % | 3.1 | % | |||||||||||||||||||||||
| Europe | 569,351 | 526,878 | 3.1 | % | (0.2) | % | 5.2 | % | 8.1 | % | |||||||||||||||||||||||||
| Asia Pacific | 756,970 | 638,121 | 18.2 | % | (0.1) | % | 0.5 | % | 18.6 | % | |||||||||||||||||||||||||
| Total sales | $ | 2,227,975 | $ | 2,039,867 | 8.4 | % | (1.2) | % | 2.0 | % | 9.2 | % | |||||||||||||||||||||||
7
NORDSON CORPORATION
RECONCILIATION OF NON-GAAP MEASURES - NET INCOME TO EBITDA (Unaudited)
(Dollars in thousands)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| July 31, 2026 | July 31, 2025 | July 31, 2026 | July 31, 2025 | ||||||||||||||||||||
| Net income | $ | 152,846 | $ | 125,784 | $ | 403,544 | $ | 332,840 | |||||||||||||||
| Income taxes | 33,093 | 33,340 | 88,070 | 81,909 | |||||||||||||||||||
| Interest expense - net | 20,359 | 25,698 | 64,680 | 77,335 | |||||||||||||||||||
| Pension settlement charge | — | — | 24,049 | — | |||||||||||||||||||
| Other expense - net | 16,794 | 2,945 | 6,357 | 5,380 | |||||||||||||||||||
Inventory step-up amortization (1) | 2,269 | — | 3,404 | 3,135 | |||||||||||||||||||
Severance and other (1) | — | 451 | — | 16,725 | |||||||||||||||||||
Acquisition-related costs (1) | 576 | 235 | 1,110 | 1,778 | |||||||||||||||||||
| Divestiture and related charges | — | 12,211 | — | 12,211 | |||||||||||||||||||
| Adjusted operating profit | 225,937 | 200,664 | 591,214 | 531,313 | |||||||||||||||||||
| Depreciation and amortization | 36,546 | 37,847 | 109,446 | 112,454 | |||||||||||||||||||
EBITDA (non-GAAP) (2) | $ | 262,483 | $ | 238,511 | $ | 700,660 | $ | 643,767 | |||||||||||||||
(1) Represents non-recurring cost reduction actions as well as fees and non-cash inventory charges associated with acquisitions.
(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as non-recurring cost reduction actions, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization.
8
NORDSON CORPORATION
RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED NET INCOME AND EARNINGS PER SHARE (Unaudited)
(Dollars in thousands)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| July 31, 2026 | July 31, 2025 | July 31, 2026 | July 31, 2025 | ||||||||||||||||||||
| GAAP AS REPORTED | |||||||||||||||||||||||
| Net income | $ | 152,846 | $ | 125,784 | $ | 403,544 | $ | 332,840 | |||||||||||||||
| Diluted earnings per share | $ | 2.73 | $ | 2.22 | $ | 7.20 | $ | 5.83 | |||||||||||||||
| Shares outstanding - diluted | 56,027 | 56,728 | 56,084 | 57,084 | |||||||||||||||||||
| ADJUSTMENTS | |||||||||||||||||||||||
Inventory step-up amortization (1) | $ | 2,269 | $ | — | $ | 3,404 | $ | 3,135 | |||||||||||||||
Acquisition costs (1) | 576 | 235 | 1,110 | 1,778 | |||||||||||||||||||
Severance and other (1) | — | 451 | — | 16,725 | |||||||||||||||||||
| Acquisition amortization of intangibles | 19,345 | 20,092 | 58,320 | 59,099 | |||||||||||||||||||
| Entity liquidation | — | — | — | 988 | |||||||||||||||||||
Non-cash loss on minority investments (2) | 14,892 | — | 2,481 | — | |||||||||||||||||||
| Pension settlement charge | — | — | 24,049 | — | |||||||||||||||||||
| Total adjustments | $ | 37,082 | $ | 32,989 | $ | 89,364 | $ | 93,936 | |||||||||||||||
| Adjustments net of tax | $ | 29,364 | $ | 29,084 | $ | 72,075 | $ | 78,451 | |||||||||||||||
| EPS effect of adjustments | $ | 0.52 | $ | 0.51 | $ | 1.29 | $ | 1.37 | |||||||||||||||
| NON-GAAP | |||||||||||||||||||||||
Adjusted net income (3) | $ | 182,210 | $ | 154,868 | $ | 475,619 | $ | 411,291 | |||||||||||||||
Adjusted earnings per share (4) | $ | 3.25 | $ | 2.73 | $ | 8.48 | $ | 7.20 | |||||||||||||||
(1) Represents non-recurring cost reduction actions as well as fees and non-cash inventory charges associated with acquisitions.
(2) Represents non-cash loss on minority investments accounted for at fair value.
(3) Adjusted net income is a non-GAAP measure defined as net income plus tax effected adjustments and other discrete tax items.
(4) Adjusted earnings per share is a non-GAAP measure defined as GAAP EPS adjusted for tax effected adjustments and other discrete tax items.
9
NORDSON CORPORATION
RECONCILIATION OF NON-GAAP MEASURES - OPERATING CASH FLOW TO FREE CASH FLOW (Unaudited)
(Dollars in thousands)
| Year to Date | |||||||||||
| July 31, 2026 | April 30, 2026 | ||||||||||
| Net cash provided by operating activities | $ | 570,473 | $ | 321,101 | |||||||
| Additions to property, plant and equipment | (40,313) | (27,693) | |||||||||
Free cash flow (1) | $ | 530,160 | $ | 293,408 | |||||||
Free cash flow - quarter to date (1) | $ | 236,752 | |||||||||
| Net income | $ | 403,544 | $ | 250,698 | |||||||
| Non-cash loss on minority investments and pension charge - after-tax | 20,552 | 9,383 | |||||||||
Net income excluding non-cash loss on minority investments and pension loss (2) | $ | 424,096 | $ | 260,081 | |||||||
Free cash flow conversion (3) | 125 | % | 113 | % | |||||||
Net income excluding non-cash loss on minority investments and pension charge - quarter to date (2) | $ | 164,015 | |||||||||
Free cash flow conversion - quarter to date (3) | 144 | % | |||||||||
| Year to Date | |||||||||||
| July 31, 2025 | April 30, 2025 | ||||||||||
| Net cash provided by operating activities | $ | 516,264 | $ | 278,292 | |||||||
| Additions to property, plant and equipment | (49,002) | (37,439) | |||||||||
Free cash flow (1) | $ | 467,262 | $ | 240,853 | |||||||
Free cash flow - quarter to date (1) | $ | 226,409 | |||||||||
| Net income | $ | 332,840 | $ | 207,056 | |||||||
Free cash flow conversion (3) | 140 | % | 116 | % | |||||||
Net income - quarter to date (2) | $ | 125,784 | |||||||||
Free cash flow conversion - quarter to date (3) | 180 | % | |||||||||
(1) Free cash flow is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Net cash provided by operating activities minus Additions to property, plant and equipment.
(2) Net income excluding non-cash loss on minority investments and pension charge is a non-GAAP measure used by management as an input to the calculation of Free cash flow conversion and is defined as Net income excluding non-cash losses (gains) on minority investments and pension settlement charge.
(3) Free cash flow conversion is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Free cash flow divided by Net income excluding non-cash losses on minority investments and pension settlement charge.
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Management uses certain non-GAAP measures, such as adjusted net income, adjusted EPS, EBITDA, free cash flow, and free cash flow conversion, internally to make strategic decisions, forecast future results, and evaluate the Company's current performance. Given management's use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in the Company's core business across different time periods. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to other companies' non-GAAP financial measures, even if they have similar names. Amounts may not add due to rounding.
Contact
Matt Matejka
Senior Director
Investor Relations
(440) 597-8495
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