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Brady Corporation (NYSE: BRC) is an international manufacturer and marketer of comprehensive solutions that identify and protect premises, products, and people. Founded in 1914 and headquartered in Milwaukee, Wisconsin, Brady has established itself as a leader in the field of industrial identification and safety solutions. The company's diverse product portfolio includes high-performance labels, signs, safety devices, printing systems, software, and precision die-cut materials.
Brady's offerings are designed to enhance safety, security, productivity, and performance across various industries, including electronics, telecommunications, manufacturing, electrical, construction, medical, and aerospace. The company's products serve a vast array of applications, such as material identification systems, wire identification, patient and people identification, asset tracking, and workplace safety and compliance.
Operating with approximately 5,600 employees in the Americas, Europe, Asia, and Australia, Brady reported fiscal 2023 sales of around $1.33 billion. This robust financial performance reflects the company's commitment to innovation and customer satisfaction. In fiscal 2023, Brady achieved significant milestones, including a 2.3% increase in annual sales, an 11.9% rise in Income Before Income Taxes Excluding Certain Items, and a record EPS of $3.51.
Recent highlights for Brady include the successful launch of new products and technologies, which have bolstered organic sales growth. The company continues to focus on strategic investments in research and development to drive future growth. Additionally, Brady's strong balance sheet allowed for significant shareholder returns through share buybacks and increased dividends, with over $120 million returned to shareholders in fiscal 2023.
Brady's commitment to sustainability and long-term value creation is further demonstrated by its strategic acquisitions. In March 2024, the company entered exclusive negotiations to acquire Gravotech Holding for approximately EUR 123 million, aiming to expand its product offering into precision direct part marking and engraving.
Looking forward, Brady has issued a promising fiscal 2024 guidance, expecting GAAP earnings per diluted Class A Nonvoting Common Share to range from $3.93 to $4.00 and Diluted EPS Excluding Certain Items* to range from $4.08 to $4.15. These projections underscore the company's strong market position and its ability to navigate an evolving economic landscape.
Brady Corporation's ongoing success is underpinned by its mission to identify and protect people, products, and places while driving innovation and efficiency across all areas of its business operations.
Brady Corporation (NYSE: BRC) will announce its fiscal 2022 fourth quarter financial results on September 1, 2022. A conference call is scheduled to begin at 10:30 a.m. Eastern Time, accessible via a webcast. Founded in 1914, Brady manufactures solutions aimed at enhancing safety and productivity across various sectors, including electronics and medical. The company reported fiscal 2021 sales of approximately $1.14 billion and employs about 5,700 people globally.
Brady Corporation (NYSE: BRC) announced the appointment of Olivier Bojarski as President of Identification Solutions, effective August 25, 2022. Bojarski, who previously held executive roles at Belden, brings extensive experience in global leadership and technical expertise to the company. He will oversee the largest division, which reported fiscal 2021 net sales of approximately $841.5 million. CEO Russell Shaller emphasized Bojarski's abilities to drive growth and meet customer expectations, aligning with Brady's strategy for its industry-leading identification products.
Brady Corporation reported a 14.6% increase in quarterly sales, reaching $338.6 million with a 9.0% organic growth. The gross profit margin improved to 48.4%, while diluted EPS rose 9.9% to a record $0.78. EPS excluding certain items was $0.86, a 17.8% increase. The company repurchased $63.2 million worth of shares and authorized an additional $100 million for buybacks. Fiscal 2022 EPS guidance was raised to $2.83-$2.92 GAAP and $3.08-$3.17 non-GAAP, implying a 12%-15% growth compared to the previous fiscal year.
On May 24, 2022, Brady Corporation's Board of Directors declared a quarterly dividend of $0.225 per share for its Class A Common Stock. This dividend is payable on July 29, 2022, to shareholders on record as of July 8, 2022. Founded in 1914 and headquartered in Milwaukee, Wisconsin, Brady specializes in safety, security, and performance solutions, generating approximately $1.14 billion in sales for fiscal 2021. The company employs around 5,700 people globally and is recognized for its diverse product offerings across various industries.
On May 10, 2022, SoundCommerce announced the acquisition of Outlier.ai to enhance its growth and expand its sales, marketing, and customer success teams. This strategic move aims to optimize profitability for direct-to-consumer brands and retailers, including notable clients like Constellation Brands (NYSE:STZ) and BRCC (NYSE:BRC). Additionally, Steve Davis has been appointed as Chief Revenue Officer, bringing 25 years of experience to drive partnership alliances and enhance customer success.
Brady Corporation (NYSE: BRC) is set to announce its fiscal 2022 third quarter financial results on May 26, 2022. A conference call will occur at 10:30 a.m. Eastern Time, and the event will be accessible via webcast. Founded in 1914 and headquartered in Milwaukee, Wisconsin, Brady specializes in safety and identification solutions, serving diverse industries including electronics, telecommunications, and aerospace. The company reported approximately $1.14 billion in sales for fiscal 2021 and employs around 5,700 people globally.
Brady has entered into a multi-year licensing agreement with Honeywell to use its patented global shutter technology in barcode scanners. This agreement allows Brady access to advanced technology that enhances barcode scanning efficiency and versatility. President Russell Shaller emphasized the significance of this license, stating it will benefit industrial customers by improving motion tolerance and speeding up barcode processing. The deal highlights the value of Honeywell's patent portfolio in meeting diverse customer needs across various sectors, including retail and healthcare.
Brady Corporation (NYSE: BRC) announced the retirement of CEO J. Michael Nauman, with Russell R. Shaller, previously Senior VP, succeeding him on April 1, 2022. Nauman will assist in the transition until June 17, 2022. Under Nauman, Brady achieved record-high earnings per share in fiscal 2021, focusing on organic growth and strategic acquisitions. Shaller, with over 30 years in manufacturing, aims to accelerate growth and improve efficiency. Brady reported fiscal 2021 sales of approximately $1.14 billion and employs about 5,700 people worldwide.
HSI and Brady Corporation have announced a collaboration to provide configurable safety management solutions. This partnership aims to enhance technology for organizations, improving safety and performance across various industries. Brady's new SmartCheck solution integrates with HSI's safety management software, allowing businesses to automate safety assessments and incident reporting effectively. The initiative responds to the rising demand for improved health and safety data management and is supported by a recent investment from Waud Capital Partners. The collaboration positions both companies to better serve their clients.
Brady Corporation (NYSE: BRC) appointed Joanne Collins Smee and Vineet Nargolwala to its Board of Directors on February 22, 2022. Collins Smee brings over 27 years of experience at IBM and serves as Chief Commercial Officer at Xerox. Nargolwala is Executive Vice President at Sensata Technologies, with a strong background in automotive and industrial markets. Both directors aim to enhance Brady’s focus on innovation and technology to drive growth and shareholder value.
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