Brady Corp. Q1 Profit Tops Estimates

(RTTNews) - Brady Corp. (BRC) reported that its first-quarter EPS excluding certain items was $0.84 compared to $0.72, prior year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.83, for the quarter. Analysts' estimates typically exclude special items.

Net income was $39.4 million compared to $35.0 million last year. Earnings per Class A nonvoting common share were $0.79, compared to $0.67.

Sales were $322.6 million compared to $321.5 million, last year. Sales increased 0.3 percent, which consisted of an organic sales increase of 6.9 percent and a decrease of 6.6 percent from foreign currency translation. Analysts on average had estimated $323.82 million in revenue.

For fiscal 2023, the company's GAAP earnings per class A nonvoting common share guidance remains unchanged at $3.13 to $3.43 per share, and EPS excluding certain items guidance also remains unchanged at $3.30 to $3.60.

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