<p>諾信公司（Nordson Corporation (NDSN)）已舉行其第四季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<p>諾信公司最近的財報電話會議展示了積極的財務成就和某些領域的增長，同時也面臨有機銷售和特定產品線的挑戰。公司展現了強勁的現金流和運營表現，但在某些領域遇到了阻力。</p>
<h2>創紀錄的 EBITDA 和現金流</h2>
<p>諾信公司實現了創紀錄的 EBITDA 達到 2.56 億美元，第四季度 EBITDA 利潤率擴大至 34%。公司還創造了創紀錄的現金流 1.94 億美元，淨收入轉換率達到 128%。這一財務里程碑凸顯了公司的強大運營能力和高效的現金管理。</p>
<h2>2025 財年的財務表現</h2>
<p>2025 財年銷售額創紀錄達到 28 億美元，比去年增長 4%，調整後的每股收益創紀錄達到 10.24 美元，超過了初步全年指導的中點。這些結果突顯了諾信在市場挑戰中交付強勁財務表現的能力。</p>
<h2>Atrion Medical 的成功整合</h2>
<p>Atrion Medical 的整合取得了成功，為其第一年的銷售和每股收益增長做出了積極貢獻。這一戰略舉措增強了諾信的市場地位，並擴展了其在醫療領域的產品供應。</p>
<h2>強勁的自由現金流生成</h2>
<p>諾信報告稱全年自由現金流轉換率為淨收入的 136%，使得公司能夠進行重大財務操作，如 3 億美元的股票回購、增加股息和減少淨債務。這表明公司強勁的現金流生成能力和對回饋股東的承諾。</p>
<h2>醫療和流體解決方案部門增長</h2>
<p>醫療和流體解決方案部門的銷售增長了 10%，有機銷售量上升了 7%。EBITDA 利潤率從 36% 提升至 40%，反映了該部門的強勁增長和運營效率。</p>
<h2>有機銷售下降</h2>
<p>儘管整體增長，諾信在第四季度經歷了 1% 的有機銷售下降，全年大約下降了 3%。這主要是由於某些工業和先進技術系統的需求疲軟，表明存在潛在的改進空間。</p>
<h2>先進技術解決方案的弱點</h2>
<p>先進技術解決方案部門面臨挑戰，銷售額比去年第四季度下降了 4%。這一下降主要是由於對 X 射線系統的需求減少，突顯了該領域需要戰略調整的必要性。</p>
<h2>工業精密解決方案的下降</h2>
<p>工業精密解決方案部門的銷售額下降了 2%，聚合物加工產品線同比下降，工業塗層系統也有小幅減少。這反映了這些產品線持續面臨的挑戰，公司需要對此進行應對。</p>
<h2>前瞻性指導</h2>
<p>展望未來，諾信公司對 2026 財年提供了強勁的指導，預計全年銷售增長將在 1% 到 6% 之間，超過 2025 年創紀錄的 28 億美元。調整後的每股收益預計將增長 6% 到 12%，中點為 9%。公司預計第一季度將有一個強勁的開局，銷售額預計在 6.3 億美元到 6.7 億美元之間，調整後的每股收益在 2.25 美元到 2.45 美元之間。諾信的樂觀情緒得益於聚合物加工和汽車市場的穩定，以及半導體應用的持續強勁。</p>
<p>總之，諾信公司的財報電話會議反映了成就與挑戰的結合。公司報告了創紀錄的財務指標和成功的戰略整合，同時也面臨某些部門的下降。展望未來，諾信對其增長前景保持樂觀，支持其對 2026 財年的強勁指導。投資者和利益相關者將密切關注公司如何應對挑戰並利用其優勢。</p>

NDSN

<p>諾信公司第四季度的財報電話會議強調了創紀錄的財務成就，包括創紀錄的 EBITDA 為 2.56 億美元和現金流為 1.94 億美元。2025 財年創下銷售額 28 億美元和調整後每股收益 10.24 美元。Atrion Medical 的整合成功，推動了銷售和每股收益的增長。儘管有機銷售下降 1% 和某些領域面臨挑戰，諾信對 2026 財年提供了強勁的指引，預計銷售增長為 1%-6% 和調整後每股收益增長為 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>諾信公司（Nordson Corporation (NDSN)）已舉行其第四季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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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>諾信公司最近的財報電話會議展示了積極的財務成就和某些領域的增長，同時也面臨有機銷售和特定產品線的挑戰。公司展現了強勁的現金流和運營表現，但在某些領域遇到了阻力。</p>
</div><h2>Record EBITDA and Cash Flow</h2>
<div class="lb-trans"><h2>創紀錄的 EBITDA 和現金流</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>諾信公司實現了創紀錄的 EBITDA 達到 2.56 億美元，第四季度 EBITDA 利潤率擴大至 34%。公司還創造了創紀錄的現金流 1.94 億美元，淨收入轉換率達到 128%。這一財務里程碑凸顯了公司的強大運營能力和高效的現金管理。</p>
</div><h2>Fiscal Year 2025 Financial Performance</h2>
<div class="lb-trans"><h2>2025 財年的財務表現</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 財年銷售額創紀錄達到 28 億美元，比去年增長 4%，調整後的每股收益創紀錄達到 10.24 美元，超過了初步全年指導的中點。這些結果突顯了諾信在市場挑戰中交付強勁財務表現的能力。</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，為其第一年的銷售和每股收益增長做出了積極貢獻。這一戰略舉措增強了諾信的市場地位，並擴展了其在醫療領域的產品供應。</p>
</div><h2>Strong Free Cash Flow Generation</h2>
<div class="lb-trans"><h2>強勁的自由現金流生成</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>諾信報告稱全年自由現金流轉換率為淨收入的 136%，使得公司能夠進行重大財務操作，如 3 億美元的股票回購、增加股息和減少淨債務。這表明公司強勁的現金流生成能力和對回饋股東的承諾。</p>
</div><h2>Medical and Fluid Solutions Segment Growth</h2>
<div class="lb-trans"><h2>醫療和流體解決方案部門增長</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>醫療和流體解決方案部門的銷售增長了 10%，有機銷售量上升了 7%。EBITDA 利潤率從 36% 提升至 40%，反映了該部門的強勁增長和運營效率。</p>
</div><h2>Organic Sales Decline</h2>
<div class="lb-trans"><h2>有機銷售下降</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>儘管整體增長，諾信在第四季度經歷了 1% 的有機銷售下降，全年大約下降了 3%。這主要是由於某些工業和先進技術系統的需求疲軟，表明存在潛在的改進空間。</p>
</div><h2>Weakness in Advanced Technology Solutions</h2>
<div class="lb-trans"><h2>先進技術解決方案的弱點</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>先進技術解決方案部門面臨挑戰，銷售額比去年第四季度下降了 4%。這一下降主要是由於對 X 射線系統的需求減少，突顯了該領域需要戰略調整的必要性。</p>
</div><h2>Industrial Precision Solutions Decline</h2>
<div class="lb-trans"><h2>工業精密解決方案的下降</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>工業精密解決方案部門的銷售額下降了 2%，聚合物加工產品線同比下降，工業塗層系統也有小幅減少。這反映了這些產品線持續面臨的挑戰，公司需要對此進行應對。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</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>展望未來，諾信公司對 2026 財年提供了強勁的指導，預計全年銷售增長將在 1% 到 6% 之間，超過 2025 年創紀錄的 28 億美元。調整後的每股收益預計將增長 6% 到 12%，中點為 9%。公司預計第一季度將有一個強勁的開局，銷售額預計在 6.3 億美元到 6.7 億美元之間，調整後的每股收益在 2.25 美元到 2.45 美元之間。諾信的樂觀情緒得益於聚合物加工和汽車市場的穩定，以及半導體應用的持續強勁。</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>總之，諾信公司的財報電話會議反映了成就與挑戰的結合。公司報告了創紀錄的財務指標和成功的戰略整合，同時也面臨某些部門的下降。展望未來，諾信對其增長前景保持樂觀，支持其對 2026 財年的強勁指導。投資者和利益相關者將密切關注公司如何應對挑戰並利用其優勢。</p>
</div>

Nordson 公司的財報電話會議：創紀錄的成就與未來展望