The following is a summary of the Brady Corporation (BRC) Q3 2024 Earnings Call Transcript:
Financial Performance:
Brady Corporation reported a Q3 total organic sales growth of 4.5% and an improved gross profit margin of 51.6%.
Earnings per share (EPS) reached a company record high this quarter.
The company purchased 863,000 shares amounting to $50.4 million as part of their ongoing commitment to rewarding shareholders.
The GAAP EPS was reported at $1.05 per share, an increase of 9.4% from last year's Q3 EPS.
The non-GAAP EPS was reported at $1.09 per share, a 14.7% increase from the same period the previous year.
The company increased its annual dividend for the 38th sequential year.
Business Progress:
Brady Corporation introduced several new products such as a rugged barcode scanner, an industrial jet color label printer, and ToughStripe Max - a re-engineered floor marking tape.
They continued their efforts in expanding their footprint in technology space, especially in generative AI, to enhance productivity and assist their sales force in being more effective.
Significant organic sales growth was seen in both regions of operation - Americas and Asia (4.5%), and Europe and Australia (4.4%).
The company aims to continue investing in Research & Development, and sales-generating resources to execute further growth opportunities.
Brady is awaiting regulatory approval for the acquisition of Gravotech and intends to expand their portfolio to Value-Added Resellers (VARs).
More details: Brady Corp IR
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