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Apr 30, 2024
Brady Q3 2024 Earnings Report
Brady reported record EPS and strong organic sales growth, driven by ongoing investment in research and development.
Key Takeaways
Brady Corporation reported a 1.9% increase in sales, driven by a 4.5% organic sales growth. Diluted EPS increased 9.4% to a record high of $1.05. The company raised its full-year EPS guidance.
Sales increased by 1.9 percent, with organic sales up by 4.5 percent.
Diluted EPS reached a record high of $1.05, a 9.4 percent increase.
The company repurchased 863,365 shares for $50.4 million and returned $11.2 million to shareholders in dividends.
Full-year EPS guidance was raised to a range of $3.93 to $4.00 on a GAAP basis and $4.08 to $4.15 on a non-GAAP basis.
Revenue by Geographic Location
Forward Guidance
The Company raised its GAAP earnings per diluted Class A Nonvoting Common Share guidance for the year ending July 31, 2024 from the previous guidance range of $3.80 to $3.95 per share to the new full year guidance range of $3.93 to $4.00 per share. The Company raised its Diluted EPS Excluding Certain Items* guidance for the year ending July 31, 2024 from the previous range of $3.95 to $4.10 per share to the new full year guidance range of $4.08 to $4.15 per share.
Positive Outlook
- Full-year GAAP EPS guidance raised to $3.93 - $4.00.
- Full-year non-GAAP EPS guidance raised to $4.08 - $4.15.
- Fiscal 2024 guidance assumes continued economic growth.
- Full-year income tax rate of approximately 21 percent.
- Depreciation and amortization expense ranging from $30 million to $32 million.
Challenges Ahead
- Fiscal 2024 guidance is based on foreign currency exchange rates as of April 30, 2024.
- Fiscal 2024 guidance does not include the Company’s pending acquisition of Gravotech Holding.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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