Nordson Reports Record Q4 and Fiscal Year 2025 Results

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Nordson Corporation reported results for the fiscal fourth quarter ended October 31, 2025. Sales were $752 million, a 1% increase compared to the prior year’s fourth quarter sales of $744 million. The increase in fourth quarter 2025 sales included favorable currency translation of 2% and a 1% acquisition impact, which was partially offset by the medical contract manufacturing divestiture and an organic sales decrease of 1%.

Net income was $152 million, or earnings per diluted share of $2.69, compared to prior year’s fourth quarter net income of $122 million, or earnings per diluted share of $2.12. Adjusted net income was $171 million, up from prior year adjusted net income of $160 million. Fourth quarter 2025 adjusted earnings per diluted share were $3.03, a 9% increase compared to prior year adjusted earnings per diluted share of $2.78.

EBITDA in the fourth quarter was $256 million, or 34% of sales, an increase of 6% compared to prior year EBITDA of $241 million, or 32% of sales.

Commenting on the Company’s fiscal 2025 fourth quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “We had a strong operational finish to fiscal 2025, and I want to thank our teams for delivering value to our customers and shareholders. Adjusted earnings per share increased 9% year-over-year, which was at the high end of our fourth quarter guidance. Sales increased 1%, inclusive of the divestiture of our medical contract manufacturing business that closed on September 2, 2025. Importantly, we achieved record EBITDA margin and free cash flow conversion of 128% resulting in continued balanced capital allocation of ongoing share repurchases, dividend payments and further debt reduction.”

Fourth Quarter Segment Results

Industrial Precision Solutions sales of $362 million decreased 2% compared to the prior year fourth quarter, driven by a 4% organic sales decrease and a favorable currency impact of 2%. The organic sales decrease was driven by double-digit weakness in polymer processing systems. EBITDA in the quarter was $137 million, or 38% of sales, a 1% increase from the prior year fourth quarter EBITDA of $136 million despite slightly lower sales volume.

Medical and Fluid Solutions sales of $220 million increased 10% compared to the prior year fourth quarter. Organic sales increased 7% driven by growth in all product lines. The final acquisition impact from Atrion, net of the divested sales from the medical contract manufacturing businesses, added 2% and favorable currency added another 1%. EBITDA in the quarter was $88 million, or 40% of sales, a 380 basis point margin increase versus the prior year fourth quarter EBITDA of $72 million, or 36% of sales.

Advanced Technology Solutions sales of $171 million decreased 4% compared to the prior year fourth quarter, driven by an organic sales decrease of 5% and a favorable currency impact of 1%. Ongoing sales strength in electronics dispense systems was more than offset by fewer deliveries of test and inspection systems, particularly x-ray systems. EBITDA in the quarter was $43 million, or 25% of sales, a decrease from the prior year fourth quarter EBITDA of $48 million, or 27% of sales.

Fiscal 2025 Full Year Results

Sales for the fiscal year ended October 31, 2025, were a record $2.8 billion, an increase of 4% compared to the prior year. This sales growth was driven by a favorable acquisition net impact of 6%, partially offset by a 3% decrease in organic volume.

Net income was $484 million, or earnings per diluted share of $8.51, compared to prior year’s net income of $467 million, or earnings per diluted share of $8.11. Adjusted net income was $583 million, an increase from prior year adjusted net income of $561 million. Adjusted earnings per diluted share were also a record at $10.24, a 5% increase compared to prior year adjusted earnings per diluted share of $9.73.

EBITDA was $900 million, or 32% of sales, compared to prior year EBITDA of $849 million, or 32% of sales. Full-year free cash flow was $661 million, a new Company record, which was a conversion rate of 136% of net income.

Reflecting on fiscal 2025, Mr. Nagarajan continued, “Nordson’s winning team delivered strong results in line with the expectations we set at the beginning of the year. This is a significant achievement, particularly in the context of the macroeconomic environment this year. Leveraging our NBS Next growth framework, as well as our close-to-the-customer business model and differentiated products, we achieved record sales of $2.8 billion, delivered our 2025 Ascend strategy goal of $900 million in EBITDA, maintained gross margins of 55% in an evolving tariff environment and achieved a 5% year-over-year increase in adjusted earnings per share. We also continued to strengthen our portfolio and balance sheet, ending the year well positioned for growth.”

Outlook

Following four consecutive years of record-setting performance, we enter fiscal 2026 with approximately $600 million in backlog, up 5% from the prior year end, excluding backlog associated with the divested business.

Based on the combination of order entry, backlog, current exchange rates and anticipated end market expectations, we expect to deliver sales in the range of $2,830 to $2,950 million in fiscal 2026. Full year fiscal 2026 adjusted earnings are forecasted in the range of $10.80 to $11.50 per diluted share.

First quarter fiscal 2026 sales are forecasted in the range of $630 to $670 million with adjusted earnings in the range of $2.25 to $2.45 per diluted share.

Commenting on fiscal 2026 guidance, Mr. Nagarajan said, “As several of our end markets begin to inflect, we are entering the fiscal year optimistic to deliver solid growth in 2026. The implementation of the Ascend Strategy, a combination of our NBS Next growth framework, owner mindset and winning teams, positions us well to meet increasing customer demand. We also remain focused on creating value for our shareholders by deploying strategic capital for acquisitions, share repurchases, dividends and debt service.”