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Sentiment · FY2026 Q3
Nordson delivered a record second quarter with $741 million in sales (+8% YOY, +7% organic) as all three segments hit quarterly records, led by ATS achieving an all-time high of $178 million on sustained semiconductor demand. Operating leverage translated to record adjusted EPS of $2.86 (+18% YOY), though GAAP EPS of $2.09 was depressed by a non-cash $24 million pension settlement charge and $10 million in minority investment mark-to-market losses. Backlog surged 18% organically with accelerating order entry in the final months, prompting management to raise full-year guidance to $2.930-$3.010 billion in sales and $11.30-$11.80 in adjusted EPS, with high confidence in the midpoint.
Demand | Revenue Growth | Margin | Guidance Reliability | Innovation & R&D | Cloud & AI | M&A | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 3 | 4 | 2 | 3 | 1 | ||
| 2025Q1 | 5 | 5 | 5 | 4 | 1 | 3 | 1 | |
| 2025Q2 | 6 | 5 | 1 | 2 | 2 | 1 | 2 | 1 |
| 2025Q3 | 4 | 2 | 2 | 2 | 3 | 2 | 1 | 2 |
| 2025Q4 | 9 | 6 | 4 | 4 | 2 | 1 | 2 | 2 |
| 2026Q1 | 12 | 3 | 2 | 2 | 3 | 6 | 1 | 1 |
| 2026Q2 | 7 | 1 | 1 | 2 | 3 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 6 | 5 | 6 | 4 | 9 | 12 | 7 |
| Revenue Growth | 3 | 5 | 5 | 2 | 6 | 3 | 1 |
| Margin | 4 | 5 | 1 | 2 | 4 | 2 | 1 |
| Guidance Reliability | 2 | 4 | 2 | 2 | 4 | 2 | 2 |
| Innovation & R&D | 3 | 1 | 2 | 3 | 2 | 3 | |
| Cloud & AI | 1 | 2 | 1 | 6 | 3 | ||
| M&A | 1 | 3 | 2 | 1 | 2 | 1 | 2 |
| Capital Allocation | 1 | 1 | 2 | 2 | 1 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $744M | +3.5% | $2.12 | -4.5% | 54.1% | 24.0% | 16.4% | $76M |
| FY2025 Q1 | $615M | -2.8% | $1.65 | -13.2% | 54.6% | 22.9% | 15.4% | $138M |
| FY2025 Q2 | $683M | +5.0% | $1.97 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mike Halloran | Robert W. Baird | 16 (0%) |
| Walter Liptak | Seaport Research Partners | 14 (0%) |
| Matt Summerville | D.A. Davidson |
| -3.9% |
| 54.7% |
| 24.7% |
| 16.5% |
| $103M |
| FY2025 Q3 | $742M | +12.1% | $2.21 | +8.3% | 54.8% | 25.3% | 17.0% | $226M |
| FY2025 Q4 | $752M | +1.0% | $2.69 | +26.9% | 56.3% | 28.5% | 20.2% | $194M |
| FY2026 Q1 | $669M | +8.8% | $2.38 | +44.2% | 54.7% | 24.9% | 19.9% | $123M |
| FY2026 Q2 | $741M | +8.5% | $2.09 | +6.1% | 54.5% | 26.6% | 15.8% | $175M |
| FY2026 Q3 | $818M | +10.3% | $2.73 | +23.5% | 55.5% | 27.3% | 18.7% | $232M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| 14 (7%) |
| Jeff Hammond | KeyBanc Capital Markets | 13 (0%) |
| Andrew Buscaglia | BNP Paribas | 12 (25%) |
| Chris Glynn | Oppenheimer | 11 (0%) |
| Brad Hewitt | Wolfe Research | 6 (0%) |
| Rob Jamieson | Vertical Research Partners | 6 (0%) |
| Chris Dankert | D.A. Davidson | 5 (0%) |
| Saree Boroditsky | Jefferies | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| D.A. Davidson | 2 | 19 (5%) |
| Robert W. Baird | 1 | 16 (0%) |
| KeyBanc Capital Markets | 2 | 15 (0%) |
| Seaport Research Partners | 1 | 14 (0%) |
| BNP Paribas | 2 | 14 (21%) |
| Oppenheimer | 1 | 11 (0%) |
| Vertical Research Partners | 1 | 6 (0%) |
| Wolfe Research | 1 | 6 (0%) |
What NDSN and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Our existing Precision Agriculture business, which began with the ARAG acquisition, had a small presence in North America.”
Nordson's precision-agriculture business originated with its prior ARAG acquisition, now being expanded via CapstanAG in North America.
“we acquired CapstanAG, a small but strategic precision agriculture company in North America.”
Nordson acquired CapstanAG (~$13M revenue, 9x EBITDA) to expand its precision-agriculture portfolio with North American mid-tier OEMs.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
NDSN Nordson Corporation | 9 | +8.5% | |
| AME Ametek | 8 | +15.0% | |
| AOS A. O. Smith | 2 | -0.7% | |
| CMI Cummins | 7 | +9.4% | |
| DOV Dover Corporation | 7 | +6.8% | |
| EMR Emerson Electric | 8 | +7.0% | |
| ETN Eaton Corporation | 8 | +21.4% | |
| GNRC Generac | 8 | +10.6% | |
| HWM Howmet Aerospace | 10 | +24.1% | |
| IEX IDEX Corporation | 8 | +6.4% | |
| IR Ingersoll Rand | 8 | +8.5% | |
| ITW Illinois Tool Works | 7 | +6.1% | |
| OTIS Otis Worldwide | 3 | +7.3% | |
| PH Parker Hannifin | 9 | +9.8% | |
| PNR Pentair | 1 | -17.0% | |
| ROK Rockwell Automation | 9 | +7.9% | |
| ROP Roper Technologies | 8 | +8.5% | |
| XYL Xylem Inc. | 7 | +1.5% |