Brady Corp. Boosts FY24 Adj. EPS; Q2 Adj. EPS Meets View
(RTTNews) - While reporting financial results for the second quarter on Thursday, Brady Corp. (BRC) raised its earnings and adjusted earnings guidance for the full-year 2024.
For fiscal 2024, the company now projects earnings in a range of 3.80 to $3.95 per share and adjusted earnings in the range of $3.95 to $4.10 per share.
Previously, the company expected earnings in the range of 3.70 to $3.95 per share and adjusted earnings in the range of $3.85 to $4.10 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.07 per share for the year. Analysts' estimates typically exclude special items.
For the second quarter, net income grew to $43.6 million or $0.90 per share, compared to $38.0 million or $0.76 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.93 per share, compared to last year's $0.81 per share.
Sales for the quarter decreased 1.1 percent to $322.6 million from $326.2 million in the same quarter last year. Organic sales increased 1.6 percent.
The Street was looking for earnings of $0.93 per share on net sales of $339.44 million for the quarter.
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