Episode Details

Nordson (NDSN) Q3 FY2026 — Nordson reported fiscal Q3 2026 on an 8-K accepted 16:32:10 ET on Wednesday August 19 - 32 minutes AFTER the bell, so Thursday Aug 20 is the reaction session and Friday Aug 21 has also settled. Shares closed USD334.70 against USD309.92, UP 8.00 pct, on 1,255,900 shares, 4.11x the 20-session median. The overnight gap was only a QUARTER of it: the stock opened USD316.00, up 1.96 pct, then built the other 5.92 pct during the session. Friday closed USD332.24, down 0.73 pct. Nordson (NASDAQ: NDSN) engineers and sells equipment that dispenses, applies and controls adhesives, coatings, sealants, polymers and biomaterials, and that tests and inspects for quality. Founded 1954, headquartered in Westlake, Ohio, about 8,000 employees, roughly 67 pct of revenue earned outside the United States. Three segments: Industrial Precision Solutions, Medical and Fluid Solutions, and Advanced Technology Solutions. Sundaram Nagarajan is CEO. The fiscal year ends 31 October. THE CALL: HOLD (3/5, MODERATE - THE RE-RATING IS DESERVED AND NOW PAID FOR) — base-case value ~$336.65 vs ~$332.24 today. KEY METRICS: - Q3 FY2026 sales USD817.667M against USD741.509M, up 10.3 pct - 11.7 points organic, minus 1.2 from a divestiture. Gross margin 55.5 pct from 54.8. EBITDA USD262.483M, 32.1 pct of sales. GAAP EPS USD2.73; adjusted EPS USD3.25 on 56,027,000 diluted shares. The USD0.52 bridge is USD19.345M of acquisition amortisation plus a USD14.892M non-cash loss on minority investments - the same line was a USD12.411M GAIN in the first half. - THE SPINE: Advanced Technology Solutions is 26.9 pct of sales (USD219.880M of USD817.667M) and delivered 100.7 pct of the company's ENTIRE EBITDA increase - USD24.149M against a company-wide USD23.972M - because Industrial Precision Solutions went USD0.230M backwards and corporate cost rose USD5.085M. Its sales grew 28.4 pct, its EBITDA 58.1 pct, its margin 24.3 to 29.9 pct. Nine months: 75.2 pct. - Backlog is up 35 pct year on year - after plus 4 pct in the January quarter and plus 18 pct in April. Nordson sizes it in DOLLARS once a year: approximately USD600M at 31 October 2025, about 11.2 weeks of shipments. Full-year guidance went USD11.30-11.80 to USD11.80-12.00 a share, a 3.03 pct midpoint move against an 8.00 pct move in the stock. Implied Q4: USD827.0M and USD3.42. Nine-month free cash flow USD530.160M, 125 pct conversion. What to watch: The Q3 FY2026 8-K accepted 16:32:10 ET on 19 August 2026 and its Exhibit 99.1, read against the Form 10-Q for the quarter ended 31 July 2026 - which only reached EDGAR at 11:43 ET next morning, by which time 93 pct of the move had printed. Sales of USD817.667M and adjusted EPS of USD3.25 both cleared the TOP of the company's own May range of USD760-790M and USD2.95-3.15. Guidance rose for a fourth straight quarter. Also on YouTube: @ChargedAlpha DISCLAIMER: For informational and educational purposes only. Not financial advice. Do your own research before any investment decision.