NDSN Nordson Corporation

First Quarter Highlights:

• Sales were $615 million, a decrease of 2.8% year-over-year
• Earnings per diluted share were $1.65
• Adjusted earnings per diluted share were $2.06
• Backlog grew 15% during the quarter

Nordson Corporation (Nasdaq: NDSN) today reported results for the fiscal first quarter ended January 31, 2025. Sales were $615 million, compared to the prior year’s first quarter sales of $633 million. The first quarter 2025 sales included a favorable acquisition impact of 8%, offset by an organic sales decrease of 9% and unfavorable currency translation of 2%.

Net income was $95 million, or $1.65 of earnings per diluted share, compared to prior year’s first quarter net income of $110 million, or $1.90 of earnings per diluted share. First quarter adjusted net income was $118 million versus prior year adjusted net income of $128 million. First quarter adjusted earnings per diluted share were $2.06, a 7% decrease from the prior year adjusted earnings per diluted share of $2.21.

EBITDA in the first quarter was $188 million, or 31% of sales, a decrease of 4% compared to prior year EBITDA of $197 million, also at 31% of sales.

Commenting on the Company’s fiscal 2025 first quarter results, Nordson President and Chief Executive Officer Sundaram Nagarajan said, “We experienced weakness across multiple end markets as we exited calendar year 2024, resulting in sales performance at the low end of our guidance range for our first fiscal quarter. However, we were encouraged to see broad order entry acceleration during the quarter, and backlog grew by approximately $85 million. Despite weaker sales, our teams performed well operationally and delivered earnings in line with our guidance mid-point. Overall, I am pleased with this solid execution in the face of dynamic market conditions, and we are positioned for growth as end market demand improves.”

First Quarter Segment Results

Industrial Precision Solutions sales of $300 million decreased 11% from the prior year, inclusive of an organic sales decrease of 8% and unfavorable currency translation of 3%. The organic sales decrease was driven primarily by weaker systems demand in polymer processing and industrial coatings product lines, which was partially offset by growth in systems and parts demand for adhesive product lines. Operating profit was $96 million, a decrease of $13 million from the prior year, reflecting the impact of lower volumes. EBITDA in the quarter was $113 million, or 38% of sales, a 10% decrease from the prior year first quarter EBITDA of $126 million, or 37% of sales.

Medical and Fluid Solutions sales of $194 million increased 21% compared to the prior year first quarter, inclusive of an acquisition impact of 33%, partially offset by an organic decline of 11% and unfavorable currency translation of 1%. The organic sales decrease was driven by lower demand and tough year-over-year comparisons in the medical interventional solutions product line, where customer destocking trends continued to impact demand. Operating profit was $41 million, a decrease of $5 million from the prior year, reflecting contribution from the Atrion acquisition offset by lower organic demand. EBITDA in the quarter was $64 million, or 33% of sales, up 7% versus the prior year first quarter EBITDA of $60 million, or 37% of sales.

Advanced Technology Solutions sales of $121 million decreased 11% compared to the prior year first quarter, driven by lower organic sales of 10% and unfavorable currency translation of 1%. The organic sales decrease compared to prior year was driven by lower systems deliveries in electronics processing and x-ray product lines, partially offset by growth in optical sensors and measurement and control product lines. Operating profit was flat year-over-year at $18 million despite lower sales due to strategic cost reduction actions and manufacturing footprint optimization actions. EBITDA in the quarter was $23 million, or 19% of sales, unchanged from the prior year first quarter EBITDA of $23 million, or 17% of sales.

Effective November 1, 2024, the Measurement and Control Solutions (MCS) division, formally reported as part of the IPS segment, has been realigned to the ATS segment based on an assessment of our portfolio. Our segment reporting reflects this change and prior year financial information was revised to be comparable. See the appendix to this release for comparative segment data by quarter for 2024.

Outlook

The Company entered the second quarter with approximately $670 million in backlog, up approximately $85 million or 15% from the start of the year. Order entry continued to improve throughout the quarter. Based on current visibility and order entry trends, the Company expects second quarter fiscal 2025 sales to be in the range of $650 to $690 million. Second quarter adjusted earnings are forecasted to be in the range of $2.30 to $2.50 per diluted share.

Reflecting on the outlook, Nagarajan continued, “Even as macroeconomic conditions remain choppy, the momentum in order entry, strength of our diversified portfolio and NBS Next competitive advantages give us confidence that we are well positioned for growth as end market uncertainties abate and capital investment demand improves throughout 2025. We have demonstrated the ability to deliver best-in-class profitability in varying market scenarios, while remaining invested in the long-term growth priorities of the Company.”

Nordson management will provide additional commentary on these results and outlook during its previously announced webcast on Thursday, February 20, 2025 at 8:30 a.m. eastern time, which can be accessed at https://investors.nordson.com. Information about Nordson’s investor relations and shareholder services is available from Lara Mahoney, vice president, investor relations and corporate communications at (440) 204-9985 or lara.mahoney@nordson.com.

The Company’s definition of adjusted earnings excludes acquisition related amortization for both current and historical periods. It is not possible for the Company to identify the amount or significance of future adjustments associated with acquisition and integration costs, restructuring costs, acquisition-related amortization, certain non-operating or income tax items, or other non-routine costs that the Company adjusts in the presentation of adjusted earnings guidance. These items are dependent on future events that are not reasonably estimable at this time. Accordingly, the Company is unable to reconcile without unreasonable effort the forecasted range of adjusted earnings guidance to a comparable GAAP range.

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of these terms or comparable terminology. These statements reflect management’s current expectations and involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, U.S. and international economic conditions; financial and market conditions; currency exchange rates and devaluations; possible acquisitions, including the Company’s ability to successfully integrate acquisitions; the Company’s ability to successfully divest or dispose of businesses that are deemed not to fit with its strategic plan; the effects of changes in U.S. trade policy and trade agreements; the effects of changes in tax law; and the possible effects of events beyond our control, such as political unrest, including the conflict between Russia and Ukraine, acts of terror, natural disasters and pandemics, including the recent coronavirus (COVID-19) pandemic and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recently filed Annual Report on Form 10-K and in its Forms 10-Q filed with the Securities and Exchange Commission, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement in this press release.

Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com, linkedin/Nordson, or www.facebook.com/nordson.

 

NORDSON CORPORATION

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(Dollars in thousands except for per-share amounts)

 

 

 

 

 

Three Months Ended

 

 

January 31, 2025

 

January 31, 2024

Sales

 

$

615,420

 

 

$

633,193

 

Cost of sales

 

 

279,524

 

 

 

284,766

 

Gross profit

 

 

335,896

 

 

 

348,427

 

Gross margin %

 

 

54.6

%

 

 

55.0

%

 

 

 

 

 

Selling & administrative expenses

 

 

194,949

 

 

 

188,992

 

Operating profit

 

 

140,947

 

 

 

159,435

 

 

 

 

 

 

Interest expense - net

 

 

(25,618

)

 

 

(20,398

)

Other income (expense) - net

 

 

1,526

 

 

 

(338

)

Income before income taxes

 

 

116,855

 

 

 

138,699

 

 

 

 

 

 

Income taxes

 

 

22,203

 

 

 

29,127

 

 

 

 

 

 

Net income

 

$

94,652

 

 

$

109,572

 

 

 

 

 

 

Weighted-average common shares outstanding:

 

 

 

 

Basic

 

 

57,129

 

 

 

57,064

 

Diluted

 

 

57,486

 

 

 

57,555

 

 

 

 

 

 

Earnings per share:

 

 

 

 

Basic earnings

 

$

1.66

 

 

$

1.92

 

Diluted earnings

 

$

1.65

 

 

$

1.90

 

 

NORDSON CORPORATION

CONSOLIDATED BALANCE SHEETS (Unaudited)

(Dollars in thousands)

 

 

 

 

 

January 31, 2025

 

October 31, 2024

Cash and cash equivalents

$

130,424

 

$

115,952

Receivables - net

 

531,298

 

 

594,663

Inventories - net

 

472,234

 

 

476,935

Other current assets

 

92,068

 

 

87,482

Total current assets

 

1,226,024

 

 

1,275,032

 

 

 

 

Property, plant and equipment - net

 

538,448

 

 

544,607

Goodwill

 

3,242,344

 

 

3,280,819

Other assets

 

864,710

 

 

900,508

 

$

5,871,526

 

$

6,000,966

 

 

 

 

Notes payable and debt due within one year

$

101,063

 

$

103,928

Accounts payable and accrued liabilities

 

383,004

 

 

424,549

Total current liabilities

 

484,067

 

 

528,477

 

 

 

 

Long-term debt

 

2,085,177

 

 

2,101,197

Other liabilities

 

425,671

 

 

439,100

Total shareholders' equity

 

2,876,611

 

 

2,932,192

 

$

5,871,526

 

$

6,000,966

 

 

 

 

NORDSON CORPORATION

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)

(Dollars in thousands)

 

 

 

Three Months Ended

 

January 31, 2025

 

January 31, 2024

Cash flows from operating activities:

 

 

 

Net income

$

94,652

 

 

$

109,572

 

Depreciation and amortization

 

37,031

 

 

 

33,544

 

Other non-cash items

 

3,160

 

 

 

6,552

 

Changes in operating assets and liabilities and other

 

24,279

 

 

 

22,688

 

Net cash provided by operating activities

 

159,122

 

 

 

172,356

 

 

 

 

 

Cash flows from investing activities:

 

 

 

Additions to property, plant and equipment

 

(21,399

)

 

 

(7,530

)

Other - net

 

7,123

 

 

 

1,805

 

Net cash used in investing activities

 

(14,276

)

 

 

(5,725

)

 

 

 

 

Cash flows from financing activities:

 

 

 

Repayment of long-term debt

 

(22,563

)

 

 

(107,195

)

Repayment of finance lease obligations

 

(1,320

)

 

 

(1,488

)

Dividends paid

 

(44,602

)

 

 

(38,855

)

Issuance of common shares

 

1,001

 

 

 

14,418

 

Purchase of treasury shares

 

(60,098

)

 

 

(7,371

)

Net cash used in financing activities

 

(127,582

)

 

 

(140,491

)

 

 

 

 

Effect of exchange rate change on cash:

 

(2,792

)

 

 

(5,618

)

Net change in cash and cash equivalents

 

14,472

 

 

 

20,522

 

 

 

 

 

Cash and cash equivalents:

 

 

 

Beginning of period

 

115,952

 

 

 

115,679

 

End of period

$

130,424

 

 

$

136,201

 

 

 

 

 

NORDSON CORPORATION

SALES BY GEOGRAPHIC SEGMENT (Unaudited)

(Dollars in thousands)

 

 

 

 

 

Three Months Ended

 

Sales Variance

 

January 31, 2025

 

January 31, 2024

 

Organic

 

Acquisitions

 

Currency

 

Total

SALES BY SEGMENT

 

 

 

 

 

 

 

 

 

 

 

Industrial Precision Solutions

$

300,448

 

$

337,742

 

(8.4

)%

 

—

%

 

(2.6

)%

 

(11.0

)%

Medical and Fluid Solutions

 

193,609

 

 

159,526

 

(11.2

)%

 

33.4

%

 

(0.8

)%

 

21.4

%

Advanced Technology Solutions

 

121,363

 

 

135,925

 

(9.6

)%

 

—

%

 

(1.1

)%

 

(10.7

)%

Total sales

$

615,420

 

$

633,193

 

(9.4

)%

 

8.4

%

 

(1.8

)%

 

(2.8

)%

 

 

 

 

 

 

 

 

 

 

 

 

SALES BY GEOGRAPHIC REGION

 

 

 

 

 

 

 

 

 

 

 

Americas

$

267,836

 

$

274,012

 

(14.8

)%

 

13.6

%

 

(1.1

)%

 

(2.3

)%

Europe

 

167,762

 

 

179,310

 

(9.3

)%

 

5.6

%

 

(2.7

)%

 

(6.4

)%

Asia Pacific

 

179,822

 

 

179,871

 

(1.2

)%

 

3.3

%

 

(2.1

)%

 

—

%

Total sales

$

615,420

 

$

633,193

 

(9.4

)%

 

8.4

%

 

(1.8

)%

 

(2.8

)%

 

 

 

 

 

 

 

 

 

 

 

 

NORDSON CORPORATION

RECONCILIATION OF NON-GAAP MEASURES - NET INCOME TO EBITDA (Unaudited)

(Dollars in thousands)

 

 

 

Three Months Ended

 

January 31, 2025

 

January 31, 2024

Net income

$

94,652

 

 

$

109,572

Income taxes

 

22,203

 

 

 

29,127

Interest expense - net

 

25,618

 

 

 

20,398

Other (income) expense - net

 

(1,526

)

 

 

338

Depreciation and amortization

 

37,030

 

 

 

33,544

Inventory step-up amortization (1)

 

3,135

 

 

 

2,944

Severance and other (1)

 

5,961

 

 

 

—

Acquisition-related costs (1)

 

1,030

 

 

 

597

EBITDA (non-GAAP) (2)

$

188,103

 

 

$

196,520

 

(1) Represents severance as well as fees and non-cash inventory charges associated with acquisitions.

(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as severance, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization.

 

NORDSON CORPORATION

RECONCILIATION OF NON-GAAP MEASURES - EBITDA (Unaudited)

(Dollars in thousands)

 

 

 

Three Months Ended

 

January 31, 2025

 

January 31, 2024

SALES BY SEGMENT

 

 

 

 

 

 

 

Industrial Precision Solutions

$

300,448

 

 

 

 

$

337,742

 

 

 

Medical and Fluid Solutions

 

193,609

 

 

 

 

 

159,526

 

 

 

Advanced Technology Solutions

 

121,363

 

 

 

 

 

135,925

 

 

 

Total sales

$

615,420

 

 

 

 

$

633,193

 

 

 

 

 

 

 

 

 

 

 

OPERATING PROFIT

 

 

 

 

 

 

 

Industrial Precision Solutions

$

95,712

 

 

 

 

$

109,098

 

 

 

Medical and Fluid Solutions

 

40,936

 

 

 

 

 

46,100

 

 

 

Advanced Technology Solutions

 

18,123

 

 

 

 

 

18,304

 

 

 

Corporate

 

(13,824

)

 

 

 

 

(14,067

)

 

 

Total operating profit

$

140,947

 

 

 

 

$

159,435

 

 

 

 

 

 

 

 

 

 

 

OPERATING PROFIT ADJUSTMENTS (1)

 

 

 

 

Industrial Precision Solutions

$

4,611

 

 

 

 

$

3,541

 

 

 

Medical and Fluid Solutions

 

5,255

 

 

 

 

 

—

 

 

 

Corporate

 

260

 

 

 

 

 

—

 

 

 

Total adjustments

$

10,126

 

 

 

 

$

3,541

 

 

 

 

 

 

 

 

 

 

 

DEPRECIATION & AMORTIZATION

 

 

 

 

 

 

Industrial Precision Solutions

$

12,453

 

 

 

 

$

12,920

 

 

 

Medical and Fluid Solutions

 

18,141

 

 

 

 

 

13,705

 

 

 

Advanced Technology Solutions

 

4,648

 

 

 

 

 

4,901

 

 

 

Corporate

 

1,788

 

 

 

 

 

2,018

 

 

 

Total depreciation & amortization

$

37,030

 

 

 

 

$

33,544

 

 

 

 

 

 

 

 

 

 

 

EBITDA (NON-GAAP) (2)

 

 

 

 

 

 

 

Industrial Precision Solutions

$

112,776

 

 

38

%

 

$

125,559

 

 

37

%

Medical and Fluid Solutions

 

64,332

 

 

33

%

 

 

59,805

 

 

37

%

Advanced Technology Solutions

 

22,771

 

 

19

%

 

 

23,205

 

 

17

%

Corporate

 

(11,776

)

 

 

 

 

(12,049

)

 

 

Total EBITDA

$

188,103

 

 

31

%

 

$

196,520

 

 

31

%

 

 

 

 

 

 

 

 

(1) Represents severance as well as fees and non-cash inventory charges associated with acquisitions.

(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as severance, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization.

 

NORDSON CORPORATION

RECONCILIATION OF NON-GAAP MEASURES - ADJUSTED NET INCOME AND EARNINGS PER SHARE (Unaudited)

(Dollars in thousands)

 

 

 

Three Months Ended

 

January 31, 2025

 

January 31, 2024

GAAP AS REPORTED

 

 

 

Operating profit

$

140,947

 

 

$

159,435

 

Other / interest expense - net

 

(24,092

)

 

 

(20,736

)

Net income

 

94,652

 

 

 

109,572

 

Diluted earnings per share

$

1.65

 

 

$

1.90

 

 

 

 

 

Shares outstanding - diluted

 

57,486

 

 

 

57,555

 

 

 

 

 

OPERATING PROFIT ADJUSTMENTS

 

 

 

Inventory step-up amortization

$

3,135

 

 

$

2,944

 

Acquisition costs

 

1,030

 

 

 

597

 

Severance and other

 

5,961

 

 

 

—

 

 

 

 

 

ACQUISITION AMORTIZATION OF INTANGIBLES

$

19,311

 

 

$

19,387

 

INTEREST

 

 

 

 

 

 

 

Total adjustments

$

29,437

 

 

$

22,928

 

 

 

 

 

Adjustments net of tax

$

23,844

 

 

$

18,113

 

EPS effect of adjustments and other discrete tax items

$

0.41

 

 

$

0.31

 

 

 

 

 

NON-GAAP MEASURES-ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE

 

 

 

Adjusted Net income (1)

$

118,496

 

 

$

127,685

 

Adjusted Diluted earnings per share (2)

$

2.06

 

 

$

2.21

 

 

(1) Adjusted net income is a non-GAAP measure defined as net income plus tax effected adjustments and other discrete tax items.

(2) Adjusted earnings per share is a non-GAAP measure defined as GAAP EPS adjusted for tax effected adjustments and other discrete tax items.

 

NORDSON CORPORATION

 

RECONCILIATION OF NON-GAAP MEASURES - OPERATING CASH FLOW TO FREE CASH FLOW (Unaudited)

(Dollars in thousands)

 

 

Year to Date

 

January 31, 2025

Net cash provided by operating activities

$

159,122

 

Additions to property, plant and equipment

 

(21,399

)

Free Cash Flow - Year to Date (1)

 

137,723

 

 

 

Net Income - Year to Date

$

94,652

 

Free Cash Flow Conversion (2)

 

146

%

 

 

 

Year to Date

 

January 31, 2024

Net cash provided by operating activities

$

172,356

 

Additions to property, plant and equipment

 

(7,530

)

Free Cash Flow - Year to Date (1)

 

164,826

 

 

 

(1) Free Cash Flow - Year to Date is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Net cash provided by operating activities minus Additions to property, plant and equipment.

(2) Free Cash Flow Conversion - Year to Date is a non-GAAP measure used by management to evaluate the Company's ongoing operations and is defined as Free Cash Flow - Year to Date divided by Net Income - Year to Date.

 

NORDSON CORPORATION

Appendix - RECONCILIATION OF NON-GAAP MEASURES - EBITDA (Unaudited)

Amounts recast for Industrial Precision Solutions and Advanced Technology Solutions Segment Change

(Dollars in thousands)

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

 

January 31, 2024

 

April 30, 2024

July 31, 2024

 

October 31, 2024

 

October 31, 2024

SALES BY SEGMENT

 

 

 

 

 

 

 

 

 

 

Industrial Precision Solutions

 

$

337,742

 

 

$

344,978

 

 

$

348,997

 

 

$

367,195

 

 

$

1,398,912

 

Medical and Fluid Solutions

 

 

159,526

 

 

 

168,966

 

 

 

166,737

 

 

 

200,223

 

 

 

695,452

 

Advanced Technology Solutions

 

 

135,925

 

 

 

136,698

 

 

 

145,870

 

 

 

177,064

 

 

 

595,557

 

Total sales

 

$

633,193

 

 

$

650,642

 

 

$

661,604

 

 

$

744,482

 

 

$

2,689,921

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING PROFIT

 

 

 

 

 

 

 

 

 

 

Industrial Precision Solutions

 

$

109,098

 

 

$

115,922

 

 

$

115,023

 

 

$

121,761

 

 

$

461,804

 

Medical and Fluid Solutions

 

 

46,100

 

 

 

48,993

 

 

 

48,374

 

 

 

44,264

 

 

 

187,731

 

Advanced Technology Solutions

 

 

18,304

 

 

 

20,693

 

 

 

26,032

 

 

 

37,957

 

 

 

102,986

 

Corporate

 

 

(14,067

)

 

 

(16,992

)

 

 

(22,371

)

 

 

(25,090

)

 

 

(78,520

)

Total operating profit

 

$

159,435

 

 

$

168,616

 

 

$

167,058

 

 

$

178,892

 

 

$

674,001

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING PROFIT ADJUSTMENTS (1)

 

 

 

 

 

 

 

 

 

 

Industrial Precision Solutions

 

$

3,541

 

 

$

—

 

 

$

2,536

 

 

$

1,700

 

 

$

7,777

 

Medical and Fluid Solutions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10,761

 

 

 

10,761

 

Advanced Technology Solutions

 

 

—

 

 

 

2,078

 

 

 

—

 

 

 

5,016

 

 

 

7,094

 

Corporate

 

 

—

 

 

 

—

 

 

 

5,160

 

 

 

8,200

 

 

 

13,360

 

Total adjustments

 

$

3,541

 

 

$

2,078

 

 

$

7,696

 

 

$

25,677

 

 

$

38,992

 

 

 

 

 

 

 

 

 

 

 

 

DEPRECIATION & AMORTIZATION

 

 

 

 

 

 

 

 

 

 

Industrial Precision Solutions

 

$

12,920

 

 

$

12,437

 

 

$

13,048

 

 

$

12,783

 

 

$

51,188

 

Medical and Fluid Solutions

 

 

13,705

 

 

 

13,564

 

 

 

13,553

 

 

 

17,239

 

 

 

58,061

 

Advanced Technology Solutions

 

 

4,901

 

 

 

4,767

 

 

 

4,841

 

 

 

4,592

 

 

 

19,101

 

Corporate

 

 

2,018

 

 

 

1,952

 

 

 

1,940

 

 

 

1,915

 

 

 

7,825

 

Total depreciation & amortization

 

$

33,544

 

 

$

32,720

 

 

$

33,382

 

 

$

36,529

 

 

$

136,175

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA (NON-GAAP) (2)

 

 

 

 

 

 

 

 

 

 

Industrial Precision Solutions

 

$

125,559

 

 

$

128,359

 

 

$

130,607

 

 

$

136,244

 

 

$

520,769

 

Medical and Fluid Solutions

 

 

59,805

 

 

 

62,557

 

 

 

61,927

 

 

 

72,264

 

 

 

256,553

 

Advanced Technology Solutions

 

 

23,205

 

 

 

27,538

 

 

 

30,873

 

 

 

47,565

 

 

 

129,181

 

Corporate

 

 

(12,049

)

 

 

(15,040

)

 

 

(15,271

)

 

 

(14,975

)

 

 

(57,335

)

Total EBITDA

 

$

196,520

 

 

$

203,414

 

 

$

208,136

 

 

$

241,098

 

 

$

849,168

 

 

 

 

 

 

 

 

 

 

 

 

(1) Represents severance as well as fees and non-cash inventory charges associated with acquisitions.

(2) EBITDA is a non-GAAP measure used by management to evaluate the Company's ongoing operations. EBITDA is defined as operating profit plus certain adjustments, such as severance, fees and non-cash inventory charges associated with acquisitions, plus depreciation and amortization.

Management uses certain non-GAAP measures, such as adjusted net income, adjusted EPS and EBITDA, internally to make strategic decisions, forecast future results, and evaluate the Company's current performance. Given management's use of these non-GAAP measures, the Company believes these measures are important to investors in understanding the Company's current and future operating results as seen through the eyes of management. In addition, management believes these non-GAAP measures are useful to investors in enabling them to better assess changes in the Company's core business across different time periods. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to other companies' non-GAAP financial measures, even if they have similar names. Amounts may not add due to rounding.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250219407503/en/

Lara Mahoney Vice President, Investor Relations & Corporate Communications 440.204.9985 Lara.Mahoney@nordson.com