3Q17 Tops Our Forecast; Trimming Estimates
- 3Q17 (July) adjusted EPS of $1.78 (vs $1.47 last year) rose 21% year-over-year and was 11 cents above our projection, aided by the pull-forward of orders in the Advanced Technology Systems segment;
- Backlog on July 31, 2017, increased 10% YoY to $372 million;
- With the 3Q17 outperformance offset by an expected slower 4Q due to the demand pull-forward, our FY17 estimate is now $5.35 (from $5.40) up 14% from FY16;
- Our FY18 EPS estimate is now $6.00 (from $6.25), supported by recent acquisitions, a solid backlog, new products/technologies, and effective margin improvement initiatives.
Nordson engineers, manufactures and markets differentiated products and systems used for dispensing, applying and controlling of adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The company serves a range of consumer non-durable, consumer durable and technology end markets including packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing. The company has three operating segments: Adhesive Dispensing Systems, Advanced Technology Systems, and Industrial Coating Systems.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.