Nordson Corp (NASDAQ:NDSN) shares are trading lower on Tuesday after the company reported Q1 financial results and updated annual guidance.

Nordson reported Q1 sales of $610 million versus analyst estimates of $677.08 million. The company turned in adjusted EPS of $1.95 compared to consensus estimates of $2.47.

"First quarter results were in line with our expectations. Our team delivered sales growth comparable to a record fiscal first quarter 2022 despite unfavorable currency headwinds, the timing of the Chinese New Year, and the unexpected negative impact from the spread of COVID-19 in China,” said Sundaram Nagarajan, president and CEO of Nordson.

The company also narrowed its 2023 adjusted earnings guidance to a range of $8.75 to $9.50 versus analyst estimates of $9.39.

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NDSN Price Action: Nordson has a 52-week high of $251.26 and a 52-week low of $194.89.

Nordson shares are down 13.3% at $213.51 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Nordson.