May 20th, 2026

The call presented strong, broad-based operational and financial results: record sales, EBITDA, adjusted EPS, robust backlog (+18%), and exceptional cash generation and balance sheet improvement. All three segments posted record quarters, with ATS showing particularly strong momentum tied to semiconductor and electronics demand. Management raised full-year guidance and emphasized disciplined capital deployment including a strategic bolt-on acquisition. Headwinds were manageable and largely one-time or noncash (pension settlement charge, mark-to-market adjustments), and the company noted short-term margin pressure from a regulatory-driven medical product change and inflationary input costs. Given the weight and quality of the positive operating and financial achievements relative to the contained challenges, the overall tone is confident and growth-oriented.

Company Guidance

Nordson guided fiscal 2026 third quarter sales of $760–$790 million (midpoint $775M) and third quarter adjusted EPS of $2.95–$3.15 (midpoint $3.05), and raised full‑year sales guidance to $2.930–$3.010 billion (midpoint $2.970B) with adjusted EPS $11.30–$11.80 (midpoint $11.55); management said it has high confidence in the midpoints and that a meaningful macro slowdown would be required to reach the low end. The company noted backlog up 18% year‑over‑year and broad‑based order momentum, expects foreign exchange to be essentially neutral in the second half, and that the net M&A impact (divestiture plus the small CapstanAG bolt‑on) is roughly a 1% headwind in the back half. Nordson also reiterated a full‑year adjusted tax rate of 18–19%, highlighted Q2 free cash flow of $170M (119% conversion of net income excluding noncash items), cash of $102M, net debt of ~$1.8B and leverage of 1.9x (below the low end of its target range) as financial flexibility supporting M&A and shareholder returns.