Nordson shares fall on outlook after earnings beat
Nordson Corp. shares dropped in the extended session Monday after the industrial machinery company's outlook fell short of Wall Street estimates despite a beat on quarterly results. Nordson shares fell 9.5% to $113.30 after hours. For the fiscal fourth quarter, Nordson estimates earnings of $1.18 to $1.32 a share. Analysts surveyed by FactSet expect $1.56 a share. The company reported fiscal third-quarter net income of $101.5 million, or $1.74 a share, compared to $84.2 million, or $1.46 a share, in the year-ago period. Adjusted earnings were $1.78 a share. Revenue rose to $589.4 million from $489.9 million in the year-ago period. Analysts had estimated $1.67 a share on revenue of $576.3 million.
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