Brady Corp. Q1 Profit Rises; Organic Sales Up 2.7%
Brady Corporation (BRC) reported first quarter net income of $47.2 million compared to $39.4 million, last year. Earnings per Class A nonvoting share were $0.97 compared to $0.79. Net income excluding items was $49.1 million or $1.00 per share compared to $42.2 million, or $0.84 per share. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.95, for the quarter. Analysts’ estimates typically exclude special items.
Sales were $332.0 million compared to $322.6 million, last year. Organic sales increased 2.7 percent, for the quarter. Analysts on average had estimated $341.98 million in revenue.
The GAAP earnings per class A nonvoting share guidance for the year ending July 31, 2024 remains unchanged at $3.70 to $3.95. EPS excluding items guidance also remains unchanged at $3.85 to $4.10.
Shares of Brady are up 4% in pre-market trade on Thursday.
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Original: RTT – Earnings: Brady Corp. Q1 Profit Rises; Organic Sales Up 2.7%