RTTNews | Aug 30, 2021 06:24PM EDT

18:24 Monday, August 30, 2021 (RTTNews.com) - Nordson Corp. (NDSN) on Monday reported a third-quarter profit and revenues that trumped street estimates. Moving ahead, the company also lifted its full year financial outlook.

Net income for the third quarter rose to $142.2 million or $2.42 per share, up from $87.0 million or $1.49 per share last year. Analysts polled by Thomson Reuters expected earnings of $2.08 per share for the quarter. Analysts' estimates typically exclude one-time items.

Third-quarter sales increased 20% to $646.9 million from $538.2 million last year. The increase was driven by organic volume growth of 20% and favorable effects from currency translation of 4%, offset by a net unfavorable impact of acquisitions and divestitures of 4%. Analysts had a consensus revenue estimate of $604.33 million for the quarter.

The company said organic sales increase was driven by continued demand across all end markets, including a seasonal increase of quarterly shipments into the electronics end market.

Looking forward to the fiscal 2021, the company now expects revenue growth of 11% to 12% and earnings of $7.75 to $7.95 per share. Previously, Nordson expected fiscal 2021 full year sales growth to be about 8% to 10% and earnings of $7.20 to $7.50 per share. Analysts currently estimate earnings of $7.58 per share on revenue growth of 10.30%.

NDSN closed Monday's trading at $238.82, up $5.28 or 2.26%, on the Nasdaq. The stock further gained $4.18 or 1.75% in the after-hours trade.

Read the original article on RTTNews ( https://www.rttnews.com/3221916/nordson-q3-results-beat-street-view-lifts-fy-outlook.aspx)

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