Brady Q3 2020 Earnings Report
Key Takeaways
Brady Corporation reported a decrease in sales and income for the third quarter of fiscal year 2020, impacted by the COVID-19 pandemic and non-cash impairment charges. The company withdrew its fiscal year 2020 financial guidance due to the uncertain economic environment.
Income before income taxes decreased by 45.9% to $22.2 million.
Diluted EPS decreased to $0.26, impacted by non-cash impairment charges and a higher income tax rate.
Sales declined by 8.2%, with organic sales decreasing by 6.0% and foreign currency translation impacting sales by 2.2%.
The company returned $64.1 million to shareholders through share repurchases and $11.3 million in dividends.
Brady
Brady
Forward Guidance
Due to the uncertainty around the duration and depth of the economic contraction caused by the COVID-19 pandemic, the Company is withdrawing its previously communicated full-year fiscal 2020 financial guidance.