Brady Q2 EPS up 18.4% to $0.90; raises low end of FY2024 guidance

BRADY CORP

GAAP diluted EPS $0.90 (up 18.4% YoY); adjusted EPS $0.93 (up 14.8% YoY).
Sales $322.6M, down 1.1% total but organic sales up 1.6%; gross margin expanded to 50.2% from 48.0%.
Raised low end of FY2024 GAAP EPS guidance to $3.80-$3.95 (prev $3.70-$3.95); adjusted EPS guidance $3.95-$4.10.
Operating cash flow $36.1M vs $29.4M last year; net cash position $95.8M after $60.8M capex incl. facility purchase.
Europe & Australia sales grew 4.5% (organic +2.5%); Americas & Asia sales declined 3.8% (organic +1.2%).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BRADY CORP reported six-month period ended January 31, 2024 results: revenue $654.6 million, net income $90.9 million, EPS $1.86. Guidance raised.

Period: six-month period ended January 31, 2024
Revenue: $654.6 million
Net income: $90.9 million
EPS: $1.86
Guidance: raised
Result: reported results

Exact text from the filing

Sales for the six months ended January 31, 2024 were $654.6 million compared to $648.8 million in the same period last year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BRADY CORP reported its fiscal 2024 second quarter ended January 31, 2024 results: revenue $322.6 million, net income $43.6 million, EPS $0.90. Guidance raised.

Period: its fiscal 2024 second quarter ended January 31, 2024
Revenue: $322.6 million
Net income: $43.6 million
EPS: $0.90
Guidance: raised
Result: reported results

Exact text from the filing

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 $322.6 million compared to $326.2 million in the same quarter last year. By region, sales decreased 3.8 percent in the Americas & Asia and sales increased 4.5 percent in Europe & Australia,

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Source: SEC EDGAR

accession 0000746598-24-000008

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