Nordson Corp

NDSN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$874.00	Fwypgr	Sypgqndr

Nordson Earnings: Against Backdrop of Softness in Electronics, a Solid Margin Expansion Seen

Krzysztof Smalec

Feb 22, 2024

Narrow-moat-rated Nordson's fiscal first-quarter adjusted EPS of $2.21 came in above management's $2.00-$2.10 guidance range, thanks to strong incremental margins driven by favorable mix shift and factory efficiencies. While nothing in Nordson's fiscal first-quarter earnings release materially alters our long-term thesis, we've modestly raised our fair value estimate to $240 from $238 due to time value of money.

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