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Why Nordson Corporation Stock Dropped 12.8% Today

Travis Hoium, The Motley Fool
·1-min read
Why Nordson Corporation Stock Dropped 12.8% Today

Shares of manufacturing company Nordson Corporation (NASDAQ: NDSN) fell as much as 12.8% in trading on Tuesday after reporting first-quarter fiscal 2023 financial results and guidance. On an adjusted basis, which pulls out one-time items, earnings were $1.95 per share, two cents below estimates. What was concerning for investors is that management said in the earnings release that "order entry in recent weeks has decreased" and that some customers are pushing out delivery dates into the second half of the year.

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