Brady Corporation Reports Fiscal 2024 Second Quarter Results and Raises the low end of its Fiscal 2024 Guidance
- Organic sales growth of 1.6% in the second quarter.
- Gross profit margin increases to 50.2% in Q2 fiscal 2024.
- Diluted EPS rises by 18.4% to $0.90 in the same quarter.
- Net cash provided by operating activities increases to $36.1 million.
- Earnings guidance raised for the full year ending July 31, 2024.
- None.
Insights
The reported increase in gross profit margin to 50.2 percent is a significant indicator of Brady Corporation's cost efficiency and pricing power, particularly when compared to the 48.0 percent from the previous fiscal year. This improvement suggests that the company has effectively managed its cost of goods sold or has increased its product pricing without a corresponding decline in sales volume, which is commendable given the global economic pressures on manufacturing and supply chains.
The rise in diluted EPS by 18.4 percent to $0.90 and the adjusted EPS increase of 14.8 percent to $0.93, reflect strong earnings growth and operational efficiency. Investors often scrutinize these metrics as they represent the portion of a company's profit allocated to each outstanding share of common stock, serving as an indicator of the company's profitability on a per-share basis.
The company's operating cash flow increase to $36.1 million further demonstrates its ability to generate liquidity, which is pivotal for funding ongoing operations and growth initiatives. Brady's decision to raise the lower end of its earnings guidance suggests confidence in its financial outlook, potentially influencing investor sentiment positively.
The organic sales growth of 1.6 percent, despite a 1.1 percent overall sales decrease, indicates that Brady Corporation is expanding its underlying business. Organic growth is often seen as a measure of a company's operational performance because it excludes the effects of acquisitions, divestitures and currency fluctuations. The reported regional sales performance, with a decrease in the Americas & Asia and an increase in Europe & Australia, highlights the importance of geographic diversification in mitigating regional market volatility.
Brady's strategic reorganization to a regional structure and its focus on R&D and sales and marketing initiatives are aimed at strengthening its competitive position. The emphasis on new product pipelines and go-to-market strategies in different geographies suggests that the company is looking to drive future sales and profit through innovation and tailored market approaches.
The company's capital expenditure increase to $60.8 million, primarily for the purchase of a manufacturing facility, indicates a strategic move to invest in its production capabilities. This could result in longer-term cost savings and increased control over its manufacturing processes. Brady's net cash position of $95.8 million provides it with significant flexibility for future organic and inorganic growth initiatives, which could be a positive signal for long-term investors looking for companies with the financial strength to invest in growth opportunities.
The adjustment of fiscal 2024 earnings guidance, with a raised lower end for both GAAP and non-GAAP EPS, reflects management's positive outlook on the company's performance. This revision could be a response to the current financial results exceeding management's initial expectations, which might instill investor confidence in the company's future performance.
- Sales for the quarter decreased 1.1 percent. Organic sales increased 1.6 percent, foreign currency translation increased sales 0.8 percent and divestitures decreased sales 3.5 percent.
- Gross profit margin increased to 50.2 percent in the second quarter of fiscal 2024 compared to 48.0 percent in the second quarter of fiscal 2023.
- Diluted EPS increased 18.4 percent to
$0.90 in the second quarter of fiscal 2024 compared to$0.76 in the same quarter of the prior year. Diluted EPS Excluding Certain Items* increased 14.8 percent to$0.93 in the second quarter of fiscal 2024 compared to$0.81 in the same quarter of the prior year. - Net cash provided by operating activities increased to
$36.1 million in the second quarter of fiscal 2024 compared to$29.4 million in the second quarter of last year. - The low end of the Earnings per diluted Class A Common Share guidance was raised for the full year ending July 31, 2024 from the previous range of
$3.70 t o$3.95 t o the new range of$3.80 t o$3.95 on a GAAP basis, and was raised from the previous range of$3.85 t o$4.10 t o the new range of$3.95 t o$4.10 , excluding after-tax amortization expense.
MILWAUKEE, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Brady Corporation (NYSE: BRC) (“Brady” or “Company”), a world leader in identification solutions, today reported its financial results for its fiscal 2024 second quarter ended January 31, 2024.
Quarter Ended January 31, 2024 Financial Results:
Sales for the quarter ended January 31, 2024 decreased 1.1 percent, which consisted of organic sales growth of 1.6 percent, an increase of 0.8 percent from foreign currency translation, and a decrease of 3.5 percent from divestitures. Sales for the quarter ended January 31, 2024 were
Income before income taxes increased 15.1 percent to
Net income for the quarter ended January 31, 2024 was
Six-Month Period Ended January 31, 2024 Financial Results:
Sales for the six-month period ended January 31, 2024 increased 0.9 percent, which consisted of organic sales growth of 2.2 percent, an increase of 1.1 percent from foreign currency translation and a decrease of 2.4 percent from divestitures. Sales for the six months ended January 31, 2024 were
Income before income taxes increased 16.6 percent to
Net income for the six-month period ended January 31, 2024 was
Commentary:
“We are delighted with the progress of our reorganization to a regional structure, which we announced in December of 2022. We are realizing operational savings while reinforcing our organization through our investments in R&D and sales and marketing initiatives. Even in this challenging manufacturing environment, we continue to grow with our Europe & Australia region performing particularly well,” said Brady’s President and Chief Executive Officer, Russell R. Shaller. “We believe our pipeline of new products will allow us to grow sales and profit as we integrate our businesses and execute our best go-to-market strategies in each geography. Our financial strength enables us to fund organic and inorganic growth initiatives to position ourselves for future success and increased shareholder value.”
“Brady is financially strong and we once again reported both organic sales growth and profit improvement. This quarter, we grew organic sales by 1.6 percent, we grew GAAP earnings per share by 18.4 percent, and cash flow from operating activities increased to
Fiscal 2024 Guidance:
The Company raised the low end of its GAAP earnings per diluted Class A Nonvoting Common Share guidance for the year ending July 31, 2024 from the previous guidance range of
The assumptions included in fiscal 2024 guidance include a full-year income tax rate of approximately 22 percent, depreciation and amortization expense ranging from
A webcast regarding Brady’s fiscal 2024 second quarter financial results will be available at www.bradycorp.com/investors beginning at 9:30 a.m. central time today.
Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. Founded in 1914, the Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady is headquartered in Milwaukee, Wisconsin and as of July 31, 2023, employed approximately 5,600 people in its worldwide businesses. Brady’s fiscal 2023 sales were approximately
* Income Before Income Taxes Excluding Certain Items, Net Income Excluding Certain Items, and Diluted EPS Excluding Certain Items are non-GAAP measures. See appendix for more information on these measures, including reconciliations to the most directly comparable GAAP measures.
In this news release, statements that are not reported financial results or other historic information are “forward-looking statements.” These forward-looking statements relate to, among other things, the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations.
The use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project,” “plan” or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements by their nature address matters that are, to different degrees, uncertain and are subject to risks, assumptions, and other factors, some of which are beyond Brady’s control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For Brady, uncertainties arise from: increased cost of raw materials and labor as well as material shortages and supply chain disruptions; decreased demand for our products; our ability to compete effectively or to successfully execute our strategy; our ability to develop technologically advanced products that meet customer demands; difficulties in protecting our websites, networks, and systems against security breaches; Brady’s ability to identify, integrate, and grow acquired companies, and to manage contingent liabilities from divested businesses; risks associated with the loss of key employees; extensive regulations by U.S. and non-U.S. governmental and self-regulatory entities; litigation, including product liability claims; adverse impacts of regional epidemics or global pandemics; foreign currency fluctuations; potential write-offs of goodwill and other intangible assets; changes in tax legislation and tax rates; differing interests of voting and non-voting shareholders and changes in the regulatory and business environment around dual-class voting structures; numerous other matters of national, regional and global scale, including major public health crises and government responses thereto and those of a political, economic, business, competitive, and regulatory nature contained from time to time in Brady’s U.S. Securities and Exchange Commission filings, including, but not limited to, those factors listed in the “Risk Factors” section within Item 1A of Part I of Brady’s Form 10-K for the year ended July 31, 2023.
These uncertainties may cause Brady's actual future results to be materially different than those expressed in its forward-looking statements. Brady does not undertake to update its forward-looking statements except as required by law.
For More Information:
Investor contact: Ann Thornton 414-438-6887
Media contact: Kate Venne 414-358-5176
| BRADY CORPORATION AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| (Unaudited; Dollars in thousands, except per share data) | |||||||||||||||
| Three months ended January 31, | Six months ended January 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net sales | $ | 322,624 | $ | 326,249 | $ | 654,607 | $ | 648,818 | |||||||
| Cost of goods sold | 160,541 | 169,809 | 320,805 | 337,114 | |||||||||||
| Gross margin | 162,083 | 156,440 | 333,802 | 311,704 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 16,832 | 15,377 | 32,534 | 29,310 | |||||||||||
| Selling, general and administrative | 91,325 | 92,282 | 187,612 | 182,227 | |||||||||||
| Total operating expenses | 108,157 | 107,659 | 220,146 | 211,537 | |||||||||||
| Operating income | 53,926 | 48,781 | 113,656 | 100,167 | |||||||||||
| Other income (expense): | |||||||||||||||
| Investment and other income | 2,684 | 968 | 3,122 | 811 | |||||||||||
| Interest expense | (790 | ) | (1,239 | ) | (1,556 | ) | (2,133 | ) | |||||||
| Income before income taxes | 55,820 | 48,510 | 115,222 | 98,845 | |||||||||||
| Income tax expense | 12,192 | 10,524 | 24,353 | 21,418 | |||||||||||
| Net income | $ | 43,628 | $ | 37,986 | $ | 90,869 | $ | 77,427 | |||||||
| Net income per Class A Nonvoting Common Share: | |||||||||||||||
| Basic | $ | 0.90 | $ | 0.76 | $ | 1.88 | $ | 1.55 | |||||||
| Diluted | $ | 0.90 | $ | 0.76 | $ | 1.86 | $ | 1.55 | |||||||
| Net income per Class B Voting Common Share: | |||||||||||||||
| Basic | $ | 0.90 | $ | 0.76 | $ | 1.86 | $ | 1.54 | |||||||
| Diluted | $ | 0.90 | $ | 0.76 | $ | 1.85 | $ | 1.53 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 48,374 | 49,745 | 48,440 | 49,806 | |||||||||||
| Diluted | 48,725 | 50,009 | 48,768 | 50,049 | |||||||||||
| BRADY CORPORATION AND SUBSIDIARIES | |||||||
| CONSOLIDATED BALANCE SHEETS | |||||||
| (Dollars in thousands) | |||||||
| January 31, 2024 | July 31, 2023 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 143,860 | $ | 151,532 | |||
| Accounts receivable, net of allowance for credit losses of | 185,569 | 184,420 | |||||
| Inventories | 164,944 | 177,078 | |||||
| Prepaid expenses and other current assets | 12,147 | 11,790 | |||||
| Total current assets | 506,520 | 524,820 | |||||
| Property, plant and equipment—net | 190,777 | 142,149 | |||||
| Goodwill | 590,535 | 592,646 | |||||
| Other intangible assets | 57,108 | 62,096 | |||||
| Deferred income taxes | 14,899 | 15,716 | |||||
| Operating lease assets | 24,686 | 29,688 | |||||
| Other assets | 23,079 | 22,142 | |||||
| Total | $ | 1,407,604 | $ | 1,389,257 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 80,114 | $ | 79,855 | |||
| Accrued compensation and benefits | 56,408 | 71,470 | |||||
| Taxes, other than income taxes | 13,345 | 13,575 | |||||
| Accrued income taxes | 8,228 | 12,582 | |||||
| Current operating lease liabilities | 12,758 | 14,726 | |||||
| Other current liabilities | 66,449 | 65,828 | |||||
| Total current liabilities | 237,302 | 258,036 | |||||
| Long-term debt | 48,090 | 49,716 | |||||
| Long-term operating lease liabilities | 12,510 | 16,217 | |||||
| Other liabilities | 70,970 | 74,369 | |||||
| Total liabilities | 368,872 | 398,338 | |||||
| Stockholders’ equity: | |||||||
| Common stock: | |||||||
| Class A nonvoting common stock—Issued 51,261,487 shares, and outstanding 44,792,328 and 45,008,724 shares, respectively | 513 | 513 | |||||
| Class B voting common stock—Issued and outstanding, 3,538,628 shares | 35 | 35 | |||||
| Additional paid-in capital | 353,794 | 351,771 | |||||
| Retained earnings | 1,090,045 | 1,021,870 | |||||
| Treasury stock—6,469,159 and 6,252,763 shares, respectively, of Class A nonvoting common stock, at cost | (305,714 | ) | (290,209 | ) | |||
| Accumulated other comprehensive loss | (99,941 | ) | (93,061 | ) | |||
| Total stockholders’ equity | 1,038,732 | 990,919 | |||||
| Total | $ | 1,407,604 | $ | 1,389,257 | |||
| BRADY CORPORATION AND SUBSIDIARIES | |||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited; Dollars in thousands) | |||||||
| Six months ended January 31, | |||||||
| 2024 | 2023 | ||||||
| Operating activities: | |||||||
| Net income | $ | 90,869 | $ | 77,427 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 15,008 | 17,117 | |||||
| Stock-based compensation expense | 5,263 | 4,381 | |||||
| Deferred income taxes | (3,640 | ) | (5,234 | ) | |||
| Other | 947 | (908 | ) | ||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | (5,030 | ) | 280 | ||||
| Inventories | 10,078 | (1,287 | ) | ||||
| Prepaid expenses and other assets | (1,187 | ) | (3,502 | ) | |||
| Accounts payable and accrued liabilities | (9,754 | ) | (29,156 | ) | |||
| Income taxes | (4,203 | ) | (1,734 | ) | |||
| Net cash provided by operating activities | 98,351 | 57,384 | |||||
| Investing activities: | |||||||
| Purchases of property, plant and equipment | (60,832 | ) | (8,167 | ) | |||
| Other | — | 11 | |||||
| Net cash used in investing activities | (60,832 | ) | (8,156 | ) | |||
| Financing activities: | |||||||
| Payment of dividends | (22,694 | ) | (22,793 | ) | |||
| Proceeds from exercise of stock options | 5,366 | 2,688 | |||||
| Payments for employee taxes withheld from stock-based awards | (2,362 | ) | (1,509 | ) | |||
| Purchase of treasury stock | (21,797 | ) | (17,861 | ) | |||
| Proceeds from borrowing on credit agreement | 69,145 | 71,036 | |||||
| Repayment of borrowing on credit agreement | (70,771 | ) | (88,755 | ) | |||
| Other | 149 | 66 | |||||
| Net cash used in financing activities | (42,964 | ) | (57,128 | ) | |||
| Effect of exchange rate changes on cash and cash equivalents | (2,227 | ) | 2,041 | ||||
| Net decrease in cash and cash equivalents | (7,672 | ) | (5,859 | ) | |||
| Cash and cash equivalents, beginning of period | 151,532 | 114,069 | |||||
| Cash and cash equivalents, end of period | $ | 143,860 | $ | 108,210 | |||
| BRADY CORPORATION AND SUBSIDIARIES | |||||||||||||||
| SEGMENT INFORMATION | |||||||||||||||
| (Unaudited; Dollars in thousands) | |||||||||||||||
| Three months ended January 31, | Six months ended January 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| NET SALES | |||||||||||||||
| Americas & Asia | $ | 211,643 | $ | 220,067 | $ | 433,269 | $ | 438,562 | |||||||
| Europe & Australia | 110,981 | 106,182 | 221,338 | 210,256 | |||||||||||
| Total | $ | 322,624 | $ | 326,249 | $ | 654,607 | $ | 648,818 | |||||||
| SALES INFORMATION | |||||||||||||||
| Americas & Asia | |||||||||||||||
| Organic | 1.2 | % | 6.9 | % | 2.3 | % | 5.4 | % | |||||||
| Currency | 0.1 | % | (1.0 | )% | — | % | (1.2 | )% | |||||||
| Divestiture | (5.1 | )% | — | % | (3.5 | )% | — | % | |||||||
| Total | (3.8 | )% | 5.9 | % | (1.2 | )% | 4.2 | % | |||||||
| Europe & Australia | |||||||||||||||
| Organic | 2.5 | % | 5.2 | % | 2.0 | % | 8.9 | % | |||||||
| Currency | 2.0 | % | (8.9 | )% | 3.3 | % | (12.8 | )% | |||||||
| Total | 4.5 | % | (3.7 | )% | 5.3 | % | (3.9 | )% | |||||||
| Total Company | |||||||||||||||
| Organic | 1.6 | % | 6.3 | % | 2.2 | % | 6.6 | % | |||||||
| Currency | 0.8 | % | (3.7 | )% | 1.1 | % | (5.1 | )% | |||||||
| Divestiture | (3.5 | )% | — | % | (2.4 | )% | — | % | |||||||
| Total | (1.1 | )% | 2.6 | % | 0.9 | % | 1.5 | % | |||||||
| SEGMENT PROFIT | |||||||||||||||
| Americas & Asia | $ | 43,895 | $ | 40,174 | $ | 93,792 | $ | 81,319 | |||||||
| Europe & Australia | 15,054 | 13,459 | 31,798 | 30,217 | |||||||||||
| Total segment profit | $ | 58,949 | $ | 53,633 | $ | 125,590 | $ | 111,536 | |||||||
| SEGMENT PROFIT AS A PERCENT OF NET SALES | |||||||||||||||
| Americas & Asia | 20.7 | % | 18.3 | % | 21.6 | % | 18.5 | % | |||||||
| Europe & Australia | 13.6 | % | 12.7 | % | 14.4 | % | 14.4 | % | |||||||
| Total | 18.3 | % | 16.4 | % | 19.2 | % | 17.2 | % | |||||||
| Three months ended January 31, | Six months ended January 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Total segment profit | $ | 58,949 | $ | 53,633 | $ | 125,590 | $ | 111,536 | |||||||
| Unallocated amounts: | |||||||||||||||
| Administrative costs | (5,023 | ) | (4,852 | ) | (11,934 | ) | (11,369 | ) | |||||||
| Investment and other income | 2,684 | 968 | 3,122 | 811 | |||||||||||
| Interest expense | (790 | ) | (1,239 | ) | (1,556 | ) | (2,133 | ) | |||||||
| Income before income taxes | $ | 55,820 | $ | 48,510 | $ | 115,222 | $ | 98,845 | |||||||
GAAP to NON-GAAP MEASURES
(Unaudited; Dollars in Thousands, Except Per Share Amounts)
In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconciliation to the most closely related GAAP measure.
Income Before Income Taxes Excluding Certain Items:
Brady is presenting the non-GAAP measure, "Income Before Income Taxes Excluding Certain Items." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures. We do not view these items to be part of our ongoing results. We believe this profit measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Income before income taxes to the non-GAAP measure of Income Before Income Taxes Excluding Certain Items:
| Three months ended January 31, | Six months ended January 31, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||
| Income before income taxes | $ | 55,820 | $ | 48,510 | $ | 115,222 | $ | 98,845 | ||||||
| Amortization expense | 2,364 | 3,258 | 4,719 | 6,889 | ||||||||||
| Income Before Income Taxes Excluding Certain Items (non-GAAP measure) | $ | 58,184 | $ | 51,768 | $ | 119,941 | $ | 105,734 | ||||||
Income Tax Expense Excluding Certain Items:
Brady is presenting the non-GAAP measure, "Income Tax Expense Excluding Certain Items." This is not a calculation based upon GAAP. The amounts included in this nonGAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Income tax expense to the non-GAAP measure of Income Tax Expense Excluding Certain Items:
| Three months ended January 31, | Six months ended January 31, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||
| Income tax expense (GAAP measure) | $ | 12,192 | $ | 10,524 | $ | 24,353 | $ | 21,418 | ||||||
| Amortization expense | 548 | 769 | 1,094 | 1,634 | ||||||||||
| Income Tax Expense Excluding Certain Items (non-GAAP measure) | $ | 12,740 | $ | 11,293 | $ | 25,447 | $ | 23,052 | ||||||
Net Income Excluding Certain Items:
Brady is presenting the non-GAAP measure, "Net Income Excluding Certain Items." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements and supporting footnote disclosures. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Net income to the non-GAAP measure of Net Income Excluding Certain Items:
| Three months ended January 31, | Six months ended January 31, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||
| Net income (GAAP measure) | $ | 43,628 | $ | 37,986 | $ | 90,869 | $ | 77,427 | ||||||
| Amortization expense | 1,816 | 2,489 | 3,625 | 5,255 | ||||||||||
| Net Income Excluding Certain Items (non-GAAP measure) | $ | 45,444 | $ | 40,475 | $ | 94,494 | $ | 82,682 | ||||||
Diluted EPS Excluding Certain Items:
Brady is presenting the non-GAAP measure, "Diluted EPS Excluding Certain Items." This is not a calculation based upon GAAP. The amounts included in this non-GAAP measure are derived from amounts included in the Consolidated Financial Statements. We do not view these items to be part of our ongoing results. We believe this measure provides an important perspective of underlying business trends and results and provides a more comparable measure from year to year. The table below provides a reconciliation of the GAAP measure of Net income per Class A Nonvoting Common Share to the non-GAAP measure of Diluted EPS Excluding Certain Items (Note that certain amounts will not foot due to rounding):
| Three months ended January 31, | Six months ended January 31, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||
| Net income per Class A Nonvoting Common Share (GAAP measure) | $ | 0.90 | $ | 0.76 | $ | 1.86 | $ | 1.55 | ||||||
| Amortization expense | 0.04 | 0.05 | 0.07 | 0.10 | ||||||||||
| Diluted EPS Excluding Certain Items (non-GAAP measure) | $ | 0.93 | $ | 0.81 | $ | 1.94 | $ | 1.65 | ||||||
| Diluted EPS Excluding Certain Items Guidance: | Fiscal 2024 Expectations | |||||||||||||
| Low | High | |||||||||||||
| Earnings per diluted Class A Common Share (GAAP measure) | $ | 3.80 | $ | 3.95 | ||||||||||
| Amortization expense | 0.15 | 0.15 | ||||||||||||
| Diluted EPS Excluding Certain Items (non-GAAP measure) | $ | 3.95 | $ | 4.10 | ||||||||||
FAQ
What was the percentage change in sales for Brady Corporation (BRC) in Q2 fiscal 2024?
How much did the gross profit margin increase in the second quarter of fiscal 2024 for Brady Corporation (BRC)?
What was the percentage increase in diluted EPS for Brady Corporation (BRC) in the second quarter of fiscal 2024?
How much did net cash provided by operating activities increase for Brady Corporation (BRC) in the second quarter of fiscal 2024?
Did Brady Corporation (BRC) raise its earnings guidance for the full year ending July 31, 2024?
