Nordson Q2 Results Beat Street View; Shares Up 5%

(RTTNews) - Shares of Nordson Corp. (NDSN) gained 5% in after-hours on Monday after the company reported a second-quarter result that trumped street estimates.

Second-quarter net income increased to $124.1 million or $2.12 per share from $92.1 million or $1.58 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.64 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased 11.3% to $589.5 million from last year's $529.5 million. Analysts had a consensus revenue estimate of $547.98 million for the quarter.

The company said robust growth in electronics and consumer non-durable end markets, as well as strengthening medical and industrial end markets, were the primary drivers of the quarterly performance.

Looking forward, Nordson now expects fiscal 2021 full year sales growth to be about 8% to 10% over fiscal year 2020 and earnings of $7.20 to $7.50 per share. Analysts currently estimate earnings of $6.62 per share on revenue growth of 5.60%.

NDSN closed Monday's trading at $202.47, up $1.03 or 0.51%, on the Nasdaq. The stock further gained $11.52 or 5.69% in the after-hours trade.