Nordson Corporation Reports Record Second Quarter Fiscal 2026 Results and Increases Full Year Guidance

Nordson Corporation Reports Record Second Quarter Fiscal 2026 Results and Increases Full Year Guidance May 20, 2026 Second Quarter Highlights: Sales were a second quarter record of $741 million, an increase of 8% year-over-year Earnings per diluted share were $2.09, up 6% year-over-year Adjusted earnings per diluted share were $2.86, a second quarter record and up 18% year-over-year Continued strength in demand with backlog up 18% compared to prior year Increasing full year guidance for sales and earnings Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal second quarter ended April 30, 2026. Sales were a second quarter record of $741 million compared to the prior year’s second quarter sales of $683 million. The second quarter 2026 sales included an organic sales increase of 7% driven by growth in all segments, as well as a favorable currency translation impact of 3%. This sales result was slightly offset by the previously announced divestiture and the contribution of a small acquisition that was completed during the quarter. Net income was $117 million, or $2.09 of earnings per diluted share, compared to prior year’s second quarter net income of $112 million, or $1.97 of earnings per diluted share. Second quarter 2026 earnings included a one-time, non-cash settlement charge to annuitize about 30% of the U.S. pension obligation and a non-cash loss on minority investments recognized during the quarter. Excluding these items and acquisition-related amortization and costs, second quarter adjusted earnings per diluted share were a record $2.86, an 18% increase from the prior year adjusted earnings per diluted share of $2.42. EBITDA was also a second quarter record of $235 million, or 32% of sales, an increase of 8% compared to prior year EBITDA of $217 million, or 32% of sales. Commenting on the Company’s fiscal 2026 second quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “Our solid execution of the Ascend Strategy resulted in second quarter records for sales, adjusted earnings and EBITDA. Our free cash flow conversion also continues to be a strength, enabling a healthy mix of shareholder returns and reinvestment in growth. Thank you to our teams for delivering another strong quarter.” On March 16, 2026, the Company acquired CapstanAG Systems, a precision agriculture company in North America that is a complementary bolt-on to our existing footprint. This small, but strategic, acquisition provides the Company with an established and synergistic platform to grow its precision agriculture portfolio with mid-tier OEMs in North America. Second Quarter Segment Results Record second quarter Industrial Precision Solutions sales of $350 million increased 10% from the prior year, inclusive of an organic sales increase of 5%, favorable currency translation of 4%, and an acquisition contribution of 1%. The organic sales increase was driven by improving industrial coating and polymer processing systems demand, ongoing growth in precision agriculture end markets and stable demand in broader consumer and industrial end markets. EBITDA in the quarter was $124 million, or 35% of sales, up 9% from the prior year second quarter EBITDA of $114 million. Medical and Fluid Solutions sales of $213 million, also a second quarter record, increased 5% compared to the prior year second quarter. This increase was inclusive of an organic sales increase of 8% and a favorable currency impact of 1%. Sales growth was partially offset by 4% related to the previously divested medical contract manufacturing business. The organic sales increase was driven by growth in engineered fluid solutions and medical product lines. EBITDA in the quarter was $79 million, or 37% of sales, up 3% from the prior year second quarter EBITDA of $77 million. Record quarterly Advanced Technology Solutions sales of $178 million increased 10% compared to the prior year second quarter, inclusive of an organic sales increase of 8% and favorable currency translation of 2%. The organic sales increase was driven by ongoing growth in electronics dispense systems. EBITDA in the quarter was $48 million, or 27% of sales, up 22% from the prior year second quarter EBITDA of $40 million. Outlook The Company enters the third quarter with increased backlog, up 18% over the prior year. Order entry momentum was broad-based in the quarter across all segments. These trends position the Company to deliver third quarter fiscal 2026 sales in the range of $760 to $790 million. Third quarter adjusted earnings are forecasted to be in the range of $2.95 to $3.15 per diluted share. 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 $2,930 to $3,010 million and adjusted earnings to be in the range of $11.30 to $11.80 per diluted share. Reflecting on the full year outlook, Mr. Nagarajan said, “We delivered a strong first half of fiscal 2026, highlighted by record performance and ongoing momentum across our end markets. Supported by robust order entry and backlog, we expect this momentum to continue and are increasing our full year sales and earnings guidance. Our NBS Next growth framework, close-to-the-customer business model, and differentiated precision technologies position us well to compound profitable growth.” Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, May 21, 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 Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 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, linkedin/Nordson, or www.facebook.com/nordson. NORDSON CORPORATION SEGMENT INFORMATION (Unaudited) (Dollars in thousands) Three Months Ended Six Months Ended April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025 SALES Industrial Precision Solutions $ 350,466 $ 318,847 $ 677,327 $ 619,295 Medical and Fluid Solutions 212,850 202,809 406,033 396,418 Advanced Technology Solutions 177,531 161,282 326,948 282,645 Total sales $ 740,847 $ 682,938 $ 1,410,308 $ 1,298,358 EBITDA Industrial Precision Solutions $ 123,578 35% $ 113,548 36% $ 233,889 35% $ 226,324 37% Medical and Fluid Solutions 79,193 37% 76,538 38% 149,399 37% 140,870 36% Advanced Technology Solutions 48,327 27% 39,516 25% 80,927 25% 62,287 22% Corporate expenses (15,911 ) (12,448 ) (26,038 ) (24,224 ) Total EBITDA (non-GAAP)(1) $ 235,187 32% $ 217,154 32% $ 438,177 31% $ 405,257 31% (1) Total company EBITDA is a non-GAAP measure. Refer to the reconciliation of non-GAAP measures – net income to EBITDA. NORDSON CORPORATION CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (Dollars in thousands except for per-share amounts) Three Months Ended Six Months Ended April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025 Sales $ 740,847 $ 682,938 $ 1,410,308 $ 1,298,358 Cost of sales 336,770 309,034 640,109 588,558 Gross profit 404,077 373,904 770,199 709,800 Gross margin % 54.5 % 54.7 % 54.6 % 54.7 % Selling and administrative expenses 206,874 205,154 406,591 400,103 Operating profit 197,203 168,750 363,608 309,697 Interest expense - net (21,580 ) (26,019 ) (44,321 ) (51,637 ) Pension settlement charge (24,049 ) — (24,049 ) — Other income (expense) - net (10,400 ) (3,961 ) 10,437 (2,435 ) Income before income taxes 141,174 138,770 305,675 255,625 Income taxes 23,858 26,366 54,977 48,569 Net income $ 117,316 $ 112,404 $ 250,698 $ 207,056 Weighted-average common shares outstanding: Basic 55,798 56,785 55,793 56,960 Diluted 56,100 57,038 56,113 57,265 Earnings per share: Basic earnings $ 2.10 $ 1.98 $ 4.49 $ 3.64 Diluted earnings $ 2.09 $ 1.97 $ 4.47 $ 3.62 NORDSON CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited) (Dollars in thousands) April 30, 2026 October 31, 2025 Cash and cash equivalents $ 102,017 $ 108,442 Receivables - net 606,689 587,843 Inventories - net 467,757 444,814 Other current assets 100,893 101,752 Total current assets 1,277,356 1,242,851 Property, plant and equipment - net 521,390 516,914 Goodwill 3,332,927 3,304,685 Other assets 832,745 853,231 $ 5,964,418 $ 5,917,681 Notes payable and debt due within one year $ 50,000 $ 315,000 Accounts payable and accrued liabilities 441,875 443,260 Total current liabilities 491,875 758,260 Long-term debt 1,836,356 1,681,254 Other liabilities 433,952 434,596 Total shareholders' equity 3,202,235 3,043,571 $ 5,964,418 $ 5,917,681 NORDSON CORPORATION CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (Dollars in thousands) Six Months Ended April 30, 2026 April 30, 2025 Cash flows from operating activities: Net income $ 250,698 $ 207,056 Depreciation and amortization 72,900 74,608 Pension settlement charge 24,049 — Other non-cash items (4,813 ) 7,021 Changes in operating assets and liabilities and other (21,733 ) (10,393 ) Net cash provided by operating activities 321,101 278,292 Cash flows from investing activities: Additions to property, plant and equipment (27,693 ) (37,439 ) Acquisition of business, net of cash acquired (11,643 ) — Other - net (688 ) 10,339 Net cash used in investing activities (40,024 ) (27,100 ) Cash flows from financing activities: Repayment of long-term debt (107,105 ) (5,800 ) Repayment of finance lease obligations (3,753 ) (2,627 ) Dividends paid (91,642 ) (88,937 ) Issuance of common shares 43,008 2,803 Purchase of treasury shares (129,303 ) (146,252 ) Net cash used in financing activities (288,795 ) (240,813 ) Effect of exchange rate change on cash: 1,293 3,826 Net change in cash and cash equivalents (6,425 ) 14,205 Cash and cash equivalents: Beginning of period 108,442 115,952 End of period $ 102,017 $ 130,157 NORDSON CORPORATION SALES BY GEOGRAPHIC SEGMENT (Unaudited) (Dollars in thousands) Three Months Ended Sales Variance April 30, 2026 April 30, 2025 Organic Acquisitions / Divestitures Currency Total SALES BY SEGMENT Industrial Precision Solutions $ 350,466 $ 318,847 5.0 % 0.8 % 4.1 % 9.9 % Medical and Fluid Solutions 212,850 202,809 7.8 % (3.9 )% 1.1 % 5.0 % Advanced Technology Solutions 177,531 161,282 8.5 % — % 1.6 % 10.1 % Total sales $ 740,847 $ 682,938 6.6 % (0.8 )% 2.7 % 8.5 % SALES BY GEOGRAPHIC REGION Americas $ 308,253 $ 292,463 5.9 % (1.7 )% 1.2 % 5.4 % Europe 194,459 172,496 6.4 % (0.3 )% 6.6 % 12.7 % Asia Pacific 238,135 217,979 7.8 % (0.1 )% 1.5 % 9.2 % Total sales $ 740,847 $ 682,938 6.6 % (0.8 )% 2.7 % 8.5 % Six Months Ended Sales Variance April 30, 2026 April 30, 2025 Organic Acquisitions / Divestitures Currency Total SALES BY SEGMENT Industrial Precision Solutions $ 677,327 $ 619,295 4.1 % 0.4 % 4.9 % 9.4 % Medical and Fluid Solutions 406,033 396,418 5.3 % (4.2 )% 1.3 % 2.4 % Advanced Technology Solutions 326,948 282,645 13.8 % — % 1.9 % 15.7 % Total sales $ 1,410,308 $ 1,298,358 6.6 % (1.1 )% 3.1 % 8.6 % SALES BY GEOGRAPHIC REGION Americas $ 570,183 $ 560,300 2.9 % (2.2 )% 1.1 % 1.8 % Europe 376,920 340,259 3.0 % (0.2 )% 8.0 % 10.8 % Asia Pacific 463,205 397,799 14.8 % (0.1 )% 1.7 % 16.4 % Total sales $ 1,410,308 $ 1,298,358 6.6 % (1.1 )% 3.1 % 8.6 % NORDSON CORPORATION RECONCILIATION OF NON-GAAP MEASURES - NET INCOME TO EBITDA (Unaudited) (Dollars in thousands) Three Months Ended Six Months Ended April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025 Net income $ 117,316 $ 112,404 $ 250,698 $ 207,056 Income taxes 23,858 26,366 54,977 48,569 Interest expense - net 21,580 26,019 44,321 51,637 Pension settlement charge 24,049 — 24,049 — Other expense (income) - net 10,400 3,961 (10,437 ) 2,435 Inventory step-up amortization(1) 1,135 — 1,135 3,135 Severance and other(1) — 10,313 — 16,274 Acquisition-related costs (1) 534 513 534 1,543 Adjusted operating profit 198,872 179,576 365,277 330,649 Depreciation and amortization 36,315 37,578 72,900 74,608 EBITDA (non-GAAP) (2) $ 235,187 $ 217,154 $ 438,177 $ 405,257 (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. NORDSON CORPORATION RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED NET INCOME AND EARNINGS PER SHARE (Unaudited) (Dollars in thousands) Three Months Ended Six Months Ended April 30, 2026 April 30, 2025 April 30, 2026 April 30, 2025 GAAP AS REPORTED Net income $ 117,316 $ 112,404 $ 250,698 $ 207,056 Diluted earnings per share $ 2.09 $ 1.97 $ 4.47 $ 3.62 Shares outstanding - diluted 56,100 57,038 56,113 57,265 ADJUSTMENTS Inventory step-up amortization(1) $ 1,135 $ — $ 1,135 $ 3,135 Acquisition costs(1) 534 513 534 1,543 Severance and other(1) — 10,313 — 16,274 Acquisition amortization of intangibles 19,406 19,696 38,975 39,007 Entity liquidation — 988 — 988 Non-cash loss (gain) on minority investments(2) 9,827 — (12,411 ) — Pension settlement charge 24,049 — 24,049 — Total adjustments $ 54,951 $ 31,510 $ 52,282 $ 60,947 Adjustments net of tax $ 43,342 $ 25,523 $ 42,711 $ 49,367 EPS effect of adjustments $ 0.77 $ 0.45 $ 0.76 $ 0.86 NON-GAAP Adjusted net income(3) $ 160,658 $ 137,927 $ 293,409 $ 256,423 Adjusted earnings per share (4) $ 2.86 $ 2.42 $ 5.23 $ 4.48 (1) Represents non-recurring cost reduction actions as well as fees and non-cash inventory charges associated with acquisitions. (2) Represents non-cash loss (gain) 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. NORDSON CORPORATION RECONCILIATION OF NON-GAAP MEASURES - OPERATING CASH FLOW TO FREE CASH FLOW (Unaudited) (Dollars in thousands) Year to Date April 30, 2026 January 31, 2026 Net cash provided by operating activities $ 321,101 $ 140,428 Additions to property, plant and equipment (27,693 ) (17,513 ) Free cash flow(1) $ 293,408 $ 122,915 Free cash flow - quarter to date (1) $ 170,493 Net income $ 250,698 $ 133,382 Non-cash loss (gain) on minority investments and pension charge - after-tax 9,383 (16,679 ) Net income excluding non-cash loss (gain) on minority investments and pension loss(2) $ 260,081 $ 116,703 Free cash flow conversion(3) 113 % 105 % Net income excluding non-cash loss (gain) on minority investments and pension charge - quarter to date(2) $ 143,378 Free cash flow conversion - quarter to date(2) 119 % Year to Date April 30, 2025 January 31, 2025 Net cash provided by operating activities $ 278,292 $ 159,122 Additions to property, plant and equipment (37,439 ) (21,399 ) Free cash flow(1) $ 240,853 $ 137,723 Free cash flow - quarter to date (1) $ 103,130 Net income $ 207,056 $ 94,652 Free cash flow conversion(3) 116 % 146 % Net income - quarter to date(2) $ 112,404 Free cash flow conversion - quarter to date(2) 92 % (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 (gain) 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 (gains) on minority investments and pension settlement charge. 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. Lara Mahoney Vice President Investor Relations & Corporate Communications 440.204.9985 [email protected] Source: Nordson Corporation