Brady Corp. Q3 Adj. Profit Rises; Raises FY22 Adj. EPS Guidance

(RTTNews) - Brady Corp. (BRC) reported that its third quarter EPS excluding certain items increased 17.8 percent to $0.86 from $0.73, prior year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items.

Net income was $40.1 million compared to $37.3 million, prior year. Earnings per class A nonvoting share were $0.78 compared to $0.71.

Sales were $338.6 million compared to $295.5 million, last year. The growth in organic sales was 9.0 percent, for the quarter. Analysts on average had estimated $333.03 million in revenue.

For fiscal 2022, the company's earnings per class A nonvoting common share on a GAAP basis was adjusted to a range of $2.83 to $2.92 per share, and earnings per class A nonvoting common share, excluding certain items guidance was increased to a range of $3.08 to $3.17 per share.

On May 24, 2022, Brady's Board authorized an additional $100 million of class A common stock for repurchase under the share buyback program.