<p>诺信公司（Nordson Corporation (NDSN)）已举行其第四季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<p>诺信公司最近的财报电话会议展示了积极的财务成就和某些领域的增长，同时也面临有机销售和特定产品线的挑战。公司展现了强劲的现金流和运营表现，但在某些领域遇到了阻力。</p>
<h2>创纪录的 EBITDA 和现金流</h2>
<p>诺信公司实现了创纪录的 EBITDA 达到 2.56 亿美元，第四季度 EBITDA 利润率扩大至 34%。公司还创造了创纪录的现金流 1.94 亿美元，净收入转换率达到 128%。这一财务里程碑凸显了公司的强大运营能力和高效的现金管理。</p>
<h2>2025 财年的财务表现</h2>
<p>2025 财年销售额创纪录达到 28 亿美元，比去年增长 4%，调整后的每股收益创纪录达到 10.24 美元，超过了初步全年指导的中点。这些结果突显了诺信在市场挑战中交付强劲财务表现的能力。</p>
<h2>Atrion Medical 的成功整合</h2>
<p>Atrion Medical 的整合取得了成功，为其第一年的销售和每股收益增长做出了积极贡献。这一战略举措增强了诺信的市场地位，并扩展了其在医疗领域的产品供应。</p>
<h2>强劲的自由现金流生成</h2>
<p>诺信报告称全年自由现金流转换率为净收入的 136%，使得公司能够进行重大财务操作，如 3 亿美元的股票回购、增加股息和减少净债务。这表明公司强劲的现金流生成能力和对回馈股东的承诺。</p>
<h2>医疗和流体解决方案部门增长</h2>
<p>医疗和流体解决方案部门的销售增长了 10%，有机销售量上升了 7%。EBITDA 利润率从 36% 提升至 40%，反映了该部门的强劲增长和运营效率。</p>
<h2>有机销售下降</h2>
<p>尽管整体增长，诺信在第四季度经历了 1% 的有机销售下降，全年大约下降了 3%。这主要是由于某些工业和先进技术系统的需求疲软，表明存在潜在的改进空间。</p>
<h2>先进技术解决方案的弱点</h2>
<p>先进技术解决方案部门面临挑战，销售额比去年第四季度下降了 4%。这一下降主要是由于对 X 射线系统的需求减少，突显了该领域需要战略调整的必要性。</p>
<h2>工业精密解决方案的下降</h2>
<p>工业精密解决方案部门的销售额下降了 2%，聚合物加工产品线同比下降，工业涂层系统也有小幅减少。这反映了这些产品线持续面临的挑战，公司需要对此进行应对。</p>
<h2>前瞻性指导</h2>
<p>展望未来，诺信公司对 2026 财年提供了强劲的指导，预计全年销售增长将在 1% 到 6% 之间，超过 2025 年创纪录的 28 亿美元。调整后的每股收益预计将增长 6% 到 12%，中点为 9%。公司预计第一季度将有一个强劲的开局，销售额预计在 6.3 亿美元到 6.7 亿美元之间，调整后的每股收益在 2.25 美元到 2.45 美元之间。诺信的乐观情绪得益于聚合物加工和汽车市场的稳定，以及半导体应用的持续强劲。</p>
<p>总之，诺信公司的财报电话会议反映了成就与挑战的结合。公司报告了创纪录的财务指标和成功的战略整合，同时也面临某些部门的下降。展望未来，诺信对其增长前景保持乐观，支持其对 2026 财年的强劲指导。投资者和利益相关者将密切关注公司如何应对挑战并利用其优势。</p>

NDSN

<p>诺信公司第四季度的财报电话会议强调了创纪录的财务成就，包括创纪录的 EBITDA 为 2.56 亿美元和现金流为 1.94 亿美元。2025 财年创下销售额 28 亿美元和调整后每股收益 10.24 美元。Atrion Medical 的整合成功，推动了销售和每股收益的增长。尽管有机销售下降 1% 和某些领域面临挑战，诺信对 2026 财年提供了强劲的指引，预计销售增长为 1%-6% 和调整后每股收益增长为 6%-12%</p>

<p>Nordson Corporation ((NDSN)) has held its Q4 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>诺信公司（Nordson Corporation (NDSN)）已举行其第四季度财报电话会议。请继续阅读会议的主要亮点。</p>
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<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
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<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
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</div><p>Nordson Corporation’s recent earnings call showcased a blend of positive financial achievements and growth in certain segments, alongside challenges in organic sales and specific product lines. The company demonstrated strong cash flow and operational performance, but faced headwinds in some areas.</p>
<div class="lb-trans"><p>诺信公司最近的财报电话会议展示了积极的财务成就和某些领域的增长，同时也面临有机销售和特定产品线的挑战。公司展现了强劲的现金流和运营表现，但在某些领域遇到了阻力。</p>
</div><h2>Record EBITDA and Cash Flow</h2>
<div class="lb-trans"><h2>创纪录的 EBITDA 和现金流</h2>
</div><p>Nordson Corporation achieved a record EBITDA of $256 million, expanding its EBITDA margin to 34% in the quarter. The company also generated a record cash flow of $194 million, with a conversion rate to net income of 128%. This financial milestone underscores the company’s robust operational capabilities and efficient cash management.</p>
<div class="lb-trans"><p>诺信公司实现了创纪录的 EBITDA 达到 2.56 亿美元，第四季度 EBITDA 利润率扩大至 34%。公司还创造了创纪录的现金流 1.94 亿美元，净收入转换率达到 128%。这一财务里程碑凸显了公司的强大运营能力和高效的现金管理。</p>
</div><h2>Fiscal Year 2025 Financial Performance</h2>
<div class="lb-trans"><h2>2025 财年的财务表现</h2>
</div><p>The fiscal year 2025 was marked by record sales of $2.8 billion, a 4% increase from the previous year, and record adjusted earnings per share of $10.24, surpassing the midpoint of initial full-year guidance. These results highlight Nordson’s ability to deliver strong financial performance despite market challenges.</p>
<div class="lb-trans"><p>2025 财年销售额创纪录达到 28 亿美元，比去年增长 4%，调整后的每股收益创纪录达到 10.24 美元，超过了初步全年指导的中点。这些结果突显了诺信在市场挑战中交付强劲财务表现的能力。</p>
</div><h2>Successful Integration of Atrion Medical</h2>
<div class="lb-trans"><h2>Atrion Medical 的成功整合</h2>
</div><p>The integration of Atrion Medical was a success, contributing positively to sales and earnings per share growth in its first year. This strategic move has strengthened Nordson’s market position and expanded its product offerings in the medical sector.</p>
<div class="lb-trans"><p>Atrion Medical 的整合取得了成功，为其第一年的销售和每股收益增长做出了积极贡献。这一战略举措增强了诺信的市场地位，并扩展了其在医疗领域的产品供应。</p>
</div><h2>Strong Free Cash Flow Generation</h2>
<div class="lb-trans"><h2>强劲的自由现金流生成</h2>
</div><p>Nordson reported a full-year free cash flow conversion of 136% of net income, enabling significant financial maneuvers such as a $300 million share repurchase, increased dividends, and a reduction in net debt. This demonstrates the company’s strong cash flow generation and commitment to returning value to shareholders.</p>
<div class="lb-trans"><p>诺信报告称全年自由现金流转换率为净收入的 136%，使得公司能够进行重大财务操作，如 3 亿美元的股票回购、增加股息和减少净债务。这表明公司强劲的现金流生成能力和对回馈股东的承诺。</p>
</div><h2>Medical and Fluid Solutions Segment Growth</h2>
<div class="lb-trans"><h2>医疗和流体解决方案部门增长</h2>
</div><p>Sales in the Medical and Fluid Solutions segment increased by 10%, with organic sales volume up 7%. The EBITDA margin improved from 36% to 40%, reflecting the segment’s robust growth and operational efficiency.</p>
<div class="lb-trans"><p>医疗和流体解决方案部门的销售增长了 10%，有机销售量上升了 7%。EBITDA 利润率从 36% 提升至 40%，反映了该部门的强劲增长和运营效率。</p>
</div><h2>Organic Sales Decline</h2>
<div class="lb-trans"><h2>有机销售下降</h2>
</div><p>Despite overall growth, Nordson experienced a 1% decline in organic sales in the fourth quarter and a roughly 3% decline for the full year. This was driven by softness in selected industrial and advanced technology systems, indicating areas for potential improvement.</p>
<div class="lb-trans"><p>尽管整体增长，诺信在第四季度经历了 1% 的有机销售下降，全年大约下降了 3%。这主要是由于某些工业和先进技术系统的需求疲软，表明存在潜在的改进空间。</p>
</div><h2>Weakness in Advanced Technology Solutions</h2>
<div class="lb-trans"><h2>先进技术解决方案的弱点</h2>
</div><p>The Advanced Technology Solutions segment faced challenges, with sales decreasing by 4% compared to the prior year’s fourth quarter. This decline was primarily due to reduced demand for x-ray systems, highlighting a need for strategic adjustments in this area.</p>
<div class="lb-trans"><p>先进技术解决方案部门面临挑战，销售额比去年第四季度下降了 4%。这一下降主要是由于对 X 射线系统的需求减少，突显了该领域需要战略调整的必要性。</p>
</div><h2>Industrial Precision Solutions Decline</h2>
<div class="lb-trans"><h2>工业精密解决方案的下降</h2>
</div><p>Sales in the Industrial Precision Solutions segment decreased by 2%, with year-over-year declines in polymer processing product lines and smaller reductions in industrial coating systems. This reflects ongoing challenges in these product lines that the company will need to address.</p>
<div class="lb-trans"><p>工业精密解决方案部门的销售额下降了 2%，聚合物加工产品线同比下降，工业涂层系统也有小幅减少。这反映了这些产品线持续面临的挑战，公司需要对此进行应对。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Nordson Corporation provided robust guidance for fiscal 2026, projecting full-year sales growth between 1% and 6% over 2025’s record $2.8 billion. Adjusted earnings per share are forecasted to increase by 6% to 12%, with a midpoint of 9%. The company anticipates a strong start in the first quarter, with sales expected to range from $630 million to $670 million and adjusted earnings per share between $2.25 and $2.45. Nordson’s optimism is supported by stabilized polymer processing and automotive markets and continued strength in semiconductor applications.</p>
<div class="lb-trans"><p>展望未来，诺信公司对 2026 财年提供了强劲的指导，预计全年销售增长将在 1% 到 6% 之间，超过 2025 年创纪录的 28 亿美元。调整后的每股收益预计将增长 6% 到 12%，中点为 9%。公司预计第一季度将有一个强劲的开局，销售额预计在 6.3 亿美元到 6.7 亿美元之间，调整后的每股收益在 2.25 美元到 2.45 美元之间。诺信的乐观情绪得益于聚合物加工和汽车市场的稳定，以及半导体应用的持续强劲。</p>
</div><p>In summary, Nordson Corporation’s earnings call reflected a mix of achievements and challenges. The company reported record financial metrics and successful strategic integrations, while also facing declines in certain segments. Looking forward, Nordson remains optimistic about its growth prospects, supported by strong guidance for fiscal 2026. Investors and stakeholders will be keenly watching how the company navigates its challenges and capitalizes on its strengths in the coming year.</p>
<div class="lb-trans"><p>总之，诺信公司的财报电话会议反映了成就与挑战的结合。公司报告了创纪录的财务指标和成功的战略整合，同时也面临某些部门的下降。展望未来，诺信对其增长前景保持乐观，支持其对 2026 财年的强劲指导。投资者和利益相关者将密切关注公司如何应对挑战并利用其优势。</p>
</div>

Nordson 公司的财报电话会议：创纪录的成就与未来展望