Why Nordson Shares Are Diving Today

Nordson Corp NDSN shares are trading lower on Tuesday after the company reported Q1 financial results and updated annual guidance.

Nordson reported Q1 sales of $610 million versus analyst estimates of $677.08 million. The company turned in adjusted EPS of $1.95 compared to consensus estimates of $2.47.

"First quarter results were in line with our expectations. Our team delivered sales growth comparable to a record fiscal first quarter 2022 despite unfavorable currency headwinds, the timing of the Chinese New Year, and the unexpected negative impact from the spread of COVID-19 in China,” said Sundaram Nagarajan, president and CEO of Nordson.

The company also narrowed its 2023 adjusted earnings guidance to a range of $8.75 to $9.50 versus analyst estimates of $9.39.

Nordson is an American multinational corporation that designs and manufactures dispensing equipment for consumer and industrial adhesives, sealants and coatings. The company also manufactures equipment used in the testing and inspection of electronic components, technology-based systems for curing and surface treatment processes as well as medical devices and component technologies.

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NDSN Price Action: Nordson has a 52-week high of $251.26 and a 52-week low of $194.89.

Nordson shares are down 13.3% at $213.51 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Nordson.