Nordson: Fiscal Q3 Earnings Snapshot
The Westlake, Ohio-based company said it had profit of $2.22 per share. Earnings, adjusted for one-time gains and costs, were $2.73 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.63 per share.
The maker of adhesives and industrial coatings posted revenue of $741.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $721 million.
_____
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
7 minutes ago
- Business Insider
Centerbridge's cofounder says Wall Street is missing great hires
Wall Street's best hires don't look anything like the résumés it worships, said Jeff Aronson, a cofounder of Centerbridge Partners, a private equity firm managing more than $42 billion in assets. "I joke with people I couldn't get a job at my own firm," Aronson said in the Goldman Sachs "Exchanges" podcast on July 16. "I didn't go to an Ivy League school. I didn't graduate Phi Beta Kappa. I don't speak six languages. I didn't discover the cure for cancer when I was nine years old," he said in the recording uploaded on Tuesday. Aronson came up through Johns Hopkins, where he earned a BA with honors, and NYU School of Law, a path outside the Ivy League track that dominates Wall Street recruiting. US News and World Report ranks Baltimore-based Johns Hopkins sixth on its top national universities list. Wall Street is often stereotyped as an Ivy League stronghold. But data from Revelio Labs showed that only 11.7% of New York-based front-office workers at top firms — including JPMorgan Chase, Goldman Sachs, Morgan Stanley, and Citigroup — graduated from Ivy-plus schools, defined as the Ivy League plus Chicago, Stanford, Duke, and MIT. For Aronson, credentials aren't what make someone a great investor. What matters is mindset, he said. "Attributes, it's the same thing that you folks look for: people who are smart and hardworking and driven," he said. But he also prizes people who are "really intellectually curious." That's partly why he believes Wall Street keeps overlooking promising talent. "So we're all scrambling and tripping over ourselves, looking for the same people," Aronson said. But the real edge comes from hiring those who think independently, he said. He recalled asking candidates whether they compared notes with friends on the buy side — a question he phrased to encourage a "yes." But what he actually wanted to hear was a "no" — because he wanted people who would do their own work, and make their own decisions. That contrarian streak has also shaped where he looks for talent. Rather than only competing for the same Ivy League graduates as every other firm, Aronson also turned his attention to the City University of New York. With over 240,000 degree-program students, CUNY is the largest public urban university in the US, but one that few Wall Street recruiters seriously consider. "I met some of these kids, and they were smart and they were hardworking. But you know what else they had? They had grit. There was no millennial stuff," he said. "Zero. They had grit. Most of them worked their way through school. And so we started hiring them. And all they wanted — it reminded me a little like when I started. 'I just want a chance. Give me a chance,'" Aronson said. "And we started hiring these kids, and they were great," he said. Calling CUNY "the undiscovered jewel that no one's thinking about," Aronson has partnered with John Waldron, president of Goldman, and billionaire Mike Bloomberg to invest millions into programs linking its students with finance jobs. The initiative, he added, has been a win for everyone involved: "It's been a huge win for these students. It's been great for New York City. And it's been smart business."
Yahoo
an hour ago
- Yahoo
SARTA's top executive replaced after unexpected resignation email. New CEO named
CANTON ‒ Kirt Conrad has left his job as CEO of the Stark Area Regional Transit Authority, SARTA's board president said. The busing agency's board at its Aug. 20 meeting unanimously appointed as SARTA's interim CEO Ralph Lee, former chief human resources officer for the Kenan Advantage Group, according to Ron Macala, SARTA's board president. Conrad cleaned out his office last week, Macala said. The SARTA board president confirmed this took place after Conrad sent a surprise resignation email to all board members on Aug. 6 that he would be stepping down a year from now in August 2026. Conrad, who became SARTA's CEO in July 2009, did not state the reason for his resignation in the email. SARTA's website the night of Aug. 20 was still listing him as its executive director/CEO. The agency uses buses and vans to transport residents across Stark County, handling more than 2 million rides annually, according to its website. Conrad could not be reached for comment the evening of Aug. 20. Related: SARTA had budget 'disaster,' CEO says. Agency's finance director now laid off SARTA board surprised by Kirt Conrad's resignation email The resignation email came as a surprise to SARTA's board. "I was shocked when I got that letter from Kirt," said board member Margaret Egbert. "Just my personal opinion, I thought it was bizarre." Egbert indicated she had no issues with Conrad's performance as CEO. "I've always been a big Kirt fan. I believed what he did with the hydrogen buses was incredible. ... He made us a leader in the nation with international recognition." But Egbert said it was not standard practice to have a "sort of lame duck" CEO for a year. SARTA leadership transition Macala said he and Conrad spoke around Aug. 14, and they agreed that Conrad could not remain CEO under the circumstances. He said Conrad never said why he sent the resignation email. "We're not terminating Mr. Conrad. We're not firing Mr. Conrad. We just decided mutually that it was time to part ways," said Macala. "We're in the process now of finalizing a separation agreement between Mr. Conrad and SARTA and we hope to have that done in the next few days." Macala said he didn't expect any other changes in SARTA's leadership. Macala said the transition would not affect SARTA's operations. He said SARTA's finances are stable, and he does not anticipate any change or cuts in services in the near future. In February, SARTA implemented cuts in its ProLine service for riders with disabilities after an unanticipated drop in revenue. Macala, who's an employment attorney, said SARTA's law firm Schulman, Roth and Associates will negotiate a separation agreement with Conrad or his attorney. SARTA will propose that Conrad's last day was officially on Aug. 18. Macala said he contacted Lee and asked if he would be interested in serving as interim CEO if the board were to approve. Macala said SARTA will pay Lee $15,000 per month. Macala did not have information on what Conrad's salary was at the time he departed. The board has not yet decided on how it will proceed in finding a permanent CEO. "SARTA is going to be fine. We're going to get back to a state of stability," said Macala. As for Lee, "he's got a great background. .... He's got a great reputation. He's worked for a lot of national firms. In high management responsibilities including HR." At the same time, SARTA has been negotiating new salary rates with the union representing its drivers, mechanics and other employees under a reopener clause in the union's three-year contract approved in January. Macala said Conrad's departure will not affect those negotiations, and Macala said he believed SARTA is close to an agreement with the union local. The union local is American Federation of State, County and Municipal Employees Local 1880. SARTA's board has also hired a search firm to help the agency find a new chief financial officer, Macala said. The board has not yet interviewed any candidates. Conrad placed the agency's last CFO on paid administrative in November. SARTA later laid her off. Conrad accused her of errors that led to SARTA's financial reports being off by millions of dollars. (This story will be updated as new information becomes available.) Reach Robert at This article originally appeared on The Repository: Kirt Conrad steps down as SARTA CEO. Ralph Lee is interim CEO Solve the daily Crossword
The Hill
an hour ago
- The Hill
Asian shares are mostly higher after a mixed finish on Wall Street
MANILA, Philippines (AP) — Asian shares were mostly higher on Thursday after a mixed finish on Wall Street, where shares in Nvidia, Palantir and other superstar stocks pared their earlier steep losses. Traders are looking ahead for cues about U.S. monetary policy from a meeting of central bankers that begins later in the day in Jackson Hole, Wyoming. Federal Reserve chair Jerome Powell is due to speak to the conference on Friday. The Fed has kept its main interest rate steady this year, primarily because of the fear of the possibility that President Donald Trump's tariffs could push inflation higher. But a surprisingly weak report on job growth across the U.S. may be superseding that. Still, minutes from the Fed's July 29-30 meeting released Wednesday showed most Fed officials felt the threat of higher inflation was a greater concern than the potential for job losses, leading the central bank to keep its key rate unchanged. In Tokyo, the Nikkei 225 fell 0.6% to 42,636.74 after a survey showed Japan's factory activity remained in contraction for the second month in August. The S&P Global flash Japan Manufacturing Purchasing Managers' Index (PMI) increased to 49.9 in August from 48.9 in July, just below the 50 level that delineates between growth and decline. Regional manufacturers have been feeling pressure from Trump's higher tariffs on exports to the United States. In Chinese markets, Hong Kong's Hang Seng index edged 0.1% lower to 25,135.09, while the Shanghai composite index rose 0.4% to 3,779.52. South Korea's Kospi jumped 1% to 3,161.74, while Australia's S&P ASX 200 index added 1% to 9,005.00. Taiwan's TAIEX climbed 1.2%, while India's Sensex added 0.1%. 'Asian markets walked into Thursday like a card room still heavy with last night's smoke — muted, watchful, waiting for the next cue out of Jackson Hole,' Stephen Innes of SPI Asset Management said in a commentary. On Wednesday, the S&P 500 dipped 0.2% to 6,395.78 after trimming a 1.1% loss earlier in the day. It is still near its all-time high set last week. The Dow Jones Industrial Average added less than 0.1% to 44,938.31. The Nasdaq composite fell 0.7% to 21,172.86. The day's action centered again around stocks caught up in the mania around artificial-intelligence technology. Nvidia, whose chips are powering much of the world's move into AI, sank as much as 3.9% during the morning and was on track to be the heaviest weight on Wall Street following its 3.5% fall on Tuesday. But it clawed back nearly all of Wednesday's drop and finished with a dip of just 0.1%. As it pared its loss, so did broad market indexes because Nvidia is Wall Street's most influential stock by being its most valuable. Palantir Technologies, another AI darling, fell 1.1% to add to its 9.4% loss from the day before, but it had been down as much as 9.8% Wednesday morning. One possible contributor to the swoon was a study from MIT's Nanda Initiative that warned that most corporations are not yet seeing any measurable return from their generative AI investments, according to Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management. But the larger factor may be the simple criticism that prices for such stock have simply shot too high, too fast amid the furor around AI and became too expensive. In other dealings early Thursday, US. benchmark crude gained 30 cents to $63.01 per barrel. Brent crude, the international standard added 26 cents to $67.10 per barrel. The U.S. dollar rose to 147.37 Japanese yen, from 147.29 yen. The euro slid to $1.1648 from $1.1659.
