Brady Q2 Profit Tops View; Lifts FY Profit Outlook

(RTTNews) - Brady Corp. (BRC) reported that its net income for the second-quarter ended January 31, 2020 increased 14.8 percent to $33.6 million from $29.2 million in the same quarter last year. Earnings per Class A Nonvoting Common Share were $0.62 for the second quarter of fiscal 2020, compared to $0.55 in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter declined 2.0 percent to $276.7 million from $282.4 million in the same quarter last year. Organic sales declined 1.2 percent. Analysts expected revenues of $282.01 million.

The company increased ts full year fiscal 2020 earnings per Class A Nonvoting common share guidance to a range of $2.55 to $2.65 from its previous range of $2.50 to $2.60. It expects annual organic sales growth to be approximately flat to slightly positive. Analysts expect annual earnings of $2.59 per share.