Brady Corp. Q3 Profit Rises; Tightens 2018 EPS View

(RTTNews) - Brady Corp. (BRC) reported that its net earnings for the third quarter ended April 30, 2018 rose to $26.0 million from $22.6 million in the same quarter last year. Earnings per Class A Nonvoting Common Share were $0.49 for the third quarter of fiscal 2018, compared to $0.43 in the same quarter last year.

Sales for the quarter ended April 30, 2018 increased 8.2 percent to $298.4 million compared to $275.9 million in the same quarter last year. By segment, sales increased 7.8 percent in Identification Solutions and 9.1 percent in Workplace Safety, which consisted of organic sales growth of 3.7 percent in Identification Solutions and 1.7 percent in Workplace Safety.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share and revenues of $291.47 million. Analysts' estimates typically exclude special items.

The company tightened its full year fiscal 2018 earnings per diluted Class A Nonvoting Common Share guidance from its previous range of $1.90 to $2.00 to a range of $1.95 to $2.00, exclusive of tax charges primarily related to the enactment of the U.S. Tax Cuts and Jobs Act of 2017. Included in this guidance is low-single digit organic sales growth, depreciation and amortization expense of approximately $26 million, and capital expenditures of approximately $20 to $25 million during the year ending July 31, 2018.