Brady Corporation (BRC) announced a fourth-quarter net income of $55.5 million, an increase from last year's $49.4 million. The earnings per class A nonvoting share were reported at $1.15, up from $1.00 in the previous year. When excluding special items, the EPS stood at $1.19 compared to $1.04. According to a Thomson Reuters survey, three analysts had anticipated the company to post a profit per share of $1.11 for the quarter. Analysts' forecasts generally exclude special items.
Sales for the quarter reached $343.4 million, down slightly from $345.9 million the prior year. The average analyst estimate had projected revenues of $351.64 million. Notably, organic sales growth for the quarter was 1.6 percent.
Looking ahead to fiscal 2025, the company projects GAAP earnings per class A nonvoting share to range between $4.15 and $4.45. Excluding special items, the EPS is expected to range between $4.40 and $4.70 for the year.
Additionally, on September 4, 2024, Brady's Board of Directors authorized an additional $100 million for the repurchase of Class A nonvoting stock under the company's share buyback program.
Brady Corporation's shares have risen by 4% in pre-market trading on Friday.
