Nordson Corporation (NASDAQ:NDSN) shares fell 2.56% today despite the company’s reported strong Q1 results. EPS came in at $2.07, beating the consensus estimate of $1.91. Revenue was $609 million, compared to the consensus estimate of $606.97 million. Organic sales rose 16% in Q1 as the company saw strong demand across most end markets. Advanced Tech (ATS) sales showed strong organic growth, up 21% year-over-year, and Industrial Precision (IPS) grew 12%.

According to the analysts at Berenberg Bank, orders were strong throughout the quarter and the company exited Q1 with a backlog of over $900 million. However, the company continues to see extended shipment request dates for large orders from electronics, industrial, and medical customers. The company raised the midpoint of its 2022 EPS guidance by around 3%, although guided Q2/22 just shy of Street estimates.