Nordson Corporation (NASDAQ:NDSN) stock rose 1.69% (As on August 23, 11:23:36 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22. Adjusted operating profit, excluding facility closure and restructuring costs, totaled $188 million, comparable to prior year operating profit. The relatively flat profit level compared to the strong prior year third quarter was driven primarily by organic sales volume growth offset by unfavorable currency impacts and inflationary pressures. EBITDA for the third quarter of 2022 totaled $213 million, or 32% of sales. Adjusted net income was $144 million, a $2 million increase from the prior year earnings of $142 million. Further, the Company continues to be encouraged as order entry remained strong throughout the third quarter with a favorable book-to-bill ratio. Backlog entering the fourth quarter of fiscal 2022 exceeds $1 billion, as the Company continues to see extended shipment request dates in conjunction with large orders from its customers in electronics, industrial and medical end markets.

NDSN in the third quarter of FY 22 has reported the adjusted earnings per share of $2.49, beating the analysts’ estimates for the adjusted earnings per share of $2.45, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 2 percent to $662.13 million in the third quarter of FY 22, beating the analysts’ estimates for revenue by 1.50%.  In constant currency, the increase in third quarter 2022 sales was approximately 7% driven by strong organic volume growth of 4% and a favorable acquisition impact. The organic sales increase was driven by strong demand across most end markets, particularly in electronics and medical.

Moreover, Industrial Precision Solutions sales of $341 million decreased 1% compared to the prior year third quarter, and on a constant currency basis grew 5% over the prior year driven primarily by the acquisition impact of 7%. Operating profit of this segment in the quarter was $120 million, or 35% of sales, a decrease of 3% compared to the prior year third quarter, primarily due to unfavorable currency impact. Advanced Technology Solutions sales of $321 million increased 7% compared to the prior year third quarter. Organic sales increased 10%, partially offset by an unfavorable currency impact of 3%. The organic sales increase was driven by robust demand across all product lines. Adjusted operating profit, excluding facility closure costs, totaled $89 million, or 28% of sales, an increase of 10% compared to the prior year third quarter operating profit.