Financial Performance - Net sales for the three months ended April 30, 2024 increased 1.9% to $343.4 million compared to $337.1 million in the same period in the prior year, with organic sales growth of 4.5%[97] - Gross margin increased 4.3% to $177.0 million in the three months ended April 30, 2024, with a gross margin percentage of 51.6%, up from 50.3% in the prior year[99] - Operating income for the three months ended April 30, 2024 was $63.5 million, or 18.5% of net sales, compared to $63.0 million, or 18.7% in the prior year[96] - Net income for the three months ended April 30, 2024, was $50.9 million, a 14.8% increase from $48.1 million in the same period last year; for the nine months, net income rose to $141.8 million, up 12.9% from $125.5 million[114] - Operating income increased by 0.9% to $63.5 million for the three months ended April 30, 2024, and by 8.6% to $177.2 million for the nine months ended April 30, 2024, compared to the same periods in the prior year[113] Expenses - Research and development expenses increased 12.5% to $17.7 million in the three months ended April 30, 2024, representing 5.1% of net sales[111] - Selling, general and administrative expenses increased 5.3% to $95.8 million in the three months ended April 30, 2024, with SG&A as a percentage of sales rising to 27.9%[100] Cash and Liquidity - The Company had cash of $160.5 million and total available liquidity of $1,245.0 million as of April 30, 2024[83] - Cash and cash equivalents were $160.5 million as of April 30, 2024, an increase of $8.9 million from July 31, 2023, primarily due to improved profitability and reduced inventory spend[122] - Net cash provided by operating activities was $171.1 million for the nine months ended April 30, 2024, compared to $129.9 million in the same period last year, reflecting improved profitability[122] - The company believes that net cash provided by operating activities will continue to be adequate to meet liquidity and capital needs over the next 12 months and beyond[140] Sales Growth - Organic sales growth for the nine months ended April 30, 2024 was 3.0%, contributing to a net sales increase of 1.2% to $998.0 million[98] - Americas & Asia net sales increased 0.9% to $224.8 million in the three months ended April 30, 2024, with organic sales growth of 4.5%[104] - Organic sales growth in the Americas was 4.5% for the three months and 3.0% for the nine months ended April 30, 2024, driven by strong performance in safety and facility identification product lines[117] - Organic sales in Europe increased by 4.4% for the three months ended April 30, 2024, with strong growth in safety and facility identification product lines, particularly in France and Germany[119] Dividends - The Company declared a quarterly cash dividend of $0.235 per share payable on July 31, 2024[90] Risks and Challenges - The Company expects to continue experiencing inflationary pressures and supply chain disruptions through the end of fiscal 2024, but has been able to mitigate impacts through pricing actions[108] - The company faces risks including increased costs of raw materials, decreased demand for products, and supply chain disruptions[143] - The company must effectively compete and execute its strategy to develop technologically advanced products that meet customer demands[143] - The company is subject to extensive regulations by U.S. and non-U.S. governmental entities, which may impact operations[143] - The company may face litigation risks, including product liability claims[143] - The company is exposed to foreign currency fluctuations and potential write-offs of goodwill and other intangible assets[143] Financial Agreements and Compliance - The outstanding balance on the Company's credit agreement was $63.8 million as of April 30, 2024, with a maximum outstanding amount of $64.7 million during the nine months[127] - The Company maintained a debt to EBITDA ratio of 0.2 to 1.0 and an interest expense coverage ratio of 98.1 to 1.0 as of April 30, 2024, in compliance with financial covenants[128] - The company entered into an amendment to the credit agreement on December 21, 2021, to adjust to alternative benchmarks due to the elimination of LIBOR[141] Internal Controls and Market Risk - There were no changes in the company's internal control over financial reporting that materially affected its financial reporting[155] - There has been no material change in market risk information since the 2023 Form 10-K[154] - There are no significant agreements for the purchase of inventory or other goods or services specifying minimum order quantities[140]

Earnings Guidance - Earnings per diluted Class A Common Share guidance for fiscal year ending July 31, 2024, raised to a new range of $3.93 to $4.00 on a GAAP basis and $4.08 to $4.15 on a non-GAAP basis[2][10]. - Diluted EPS Excluding Certain Items guidance for fiscal 2024 is projected between $4.08 and $4.15[41]. Sales Performance - Sales for the quarter ended April 30, 2024, increased by 1.9% to $343.4 million, with organic sales growth of 4.5%[3]. - For the nine-month period ended April 30, 2024, sales increased by 1.2% to $998.0 million, with organic sales growth of 3.0%[4]. - Total net sales for the quarter ended April 30, 2024, were $343.4 million, a 1.9% increase compared to $337.1 million in the same quarter of the prior year[18]. - Net sales for the three months ended April 30, 2024, were $343,384 million, a slight increase from $337,116 million in the same period of 2023, while net sales for the nine months ended April 30, 2024, reached $997,991 million compared to $985,934 million in 2023[34]. Income and Earnings - Net income for the nine-month period ended April 30, 2024, was $141.8 million, compared to $125.5 million in the same period last year[9]. - Diluted EPS for the nine months ended April 30, 2024, was $2.91, up from $2.51 in the same period last year[9]. - Net income for the quarter was $50.9 million, compared to $48.1 million in the same quarter last year[26]. - Diluted EPS for the quarter increased 9.4% to $1.05, while diluted EPS excluding certain items increased 14.7% to $1.09[24]. - For the nine-month period ended April 30, 2024, income before income taxes increased 11.0% to $179.6 million compared to $161.9 million in the same period last year[27]. - Basic net income per Class A Nonvoting Common Share for the three months ended April 30, 2024, was $1.06, an increase from $0.97 in 2023, and for the nine months, it rose to $2.94 from $2.52[34]. Cash Flow and Shareholder Returns - Net cash provided by operating activities was $171.1 million for the nine months ended April 30, 2024, compared to $129.9 million in the same period last year[6]. - The company repurchased 863,365 shares for $50.4 million and returned $11.2 million to shareholders in dividends during the quarter[10]. Product Development and Innovation - The company launched several new products this quarter, focusing on innovation to drive future growth[5]. - The company is positioned for future success with an increased pace of innovative new product development[5]. Regional Sales Performance - Sales in the Americas & Asia increased by 0.9% and by 3.8% in Europe & Australia for the quarter ended April 30, 2024[3]. - Organic sales growth was 4.5% for the quarter, while foreign currency effects decreased sales by 0.3% and divestitures decreased sales by 2.3%[24]. Financial Position - Total current assets as of April 30, 2024, were $521,272 million, slightly down from $524,820 million as of July 31, 2023[35]. - Total liabilities increased to $401,994 million as of April 30, 2024, from $398,338 million as of July 31, 2023[35]. - Stockholders' equity rose to $1,022,102 million as of April 30, 2024, compared to $990,919 million as of July 31, 2023[35]. Operating Performance - Total segment profit for the quarter was $69.2 million, compared to $66.3 million in the same quarter last year[18]. - Gross margin improved to $177,027 million for the three months ended April 30, 2024, up from $169,691 million in 2023, and for the nine months, it increased to $510,829 million from $481,395 million[34]. - Operating income for the three months ended April 30, 2024, was $63,543 million, slightly higher than $63,001 million in 2023, with a nine-month operating income of $177,199 million compared to $163,168 million in 2023[34]. Research and Development - Research and development expenses increased to $17,681 million for the three months ended April 30, 2024, compared to $15,715 million in 2023, and for the nine months, it was $50,215 million versus $45,025 million in 2023[34].

Core Viewpoint - Brady Corporation reported a 1.9% increase in sales for the third quarter of fiscal 2024, driven by organic sales growth of 4.5%, despite negative impacts from foreign currency translation and divestitures [2][8]. Financial Results - **Quarterly Sales**: Sales for the quarter ended April 30, 2024, were $343.4 million, up from $337.1 million in the same quarter last year [2]. - **Income Before Taxes**: Income before income taxes increased by 2.2% to $64.4 million compared to $63.0 million in the same quarter last year [3]. - **Net Income**: Net income rose to $50.9 million from $48.1 million year-over-year, with diluted earnings per share (EPS) increasing to $1.05 from $0.96 [4][8]. Nine-Month Period Results - **Sales Growth**: For the nine-month period ended April 30, 2024, sales increased by 1.2% to $998.0 million from $985.9 million in the same period last year [5]. - **Income Before Taxes**: Income before income taxes for the nine months increased by 11.0% to $179.6 million compared to $161.9 million in the prior year [6]. - **Net Income**: Net income for the nine-month period was $141.8 million, up from $125.5 million, with diluted EPS rising to $2.91 from $2.51 [7]. Segment Performance - **Regional Sales**: Sales in the Americas & Asia increased by 0.9%, while Europe & Australia saw a 3.8% increase, with organic sales growth of 4.5% and 4.4% respectively [2][25]. - **Segment Profit**: Total segment profit for the quarter was $69.2 million, compared to $66.3 million in the same quarter last year [26]. Cash Flow and Shareholder Returns - **Operating Cash Flow**: Net cash provided by operating activities for the nine months was $171.1 million, compared to $129.9 million in the same period last year [8]. - **Shareholder Returns**: The company repurchased 863,365 shares for $50.4 million and paid $11.2 million in dividends during the quarter [10]. Fiscal 2024 Guidance - **Earnings Guidance**: The company raised its GAAP EPS guidance for the fiscal year ending July 31, 2024, to a range of $3.93 to $4.00, and non-GAAP EPS guidance to $4.08 to $4.15 [11][12].

MILWAUKEE, May 22, 2024 (GLOBE NEWSWIRE) -- Brady Corporation (NYSE: BRC) ("Brady" or "Company"), a world leader in identification solutions, today reported its financial results for its fiscal 2024 third quarter ended April 30, 2024. Quarter Ended April 30, 2024 Financial Results: Sales for the quarter ended April 30, 2024 increased 1.9 percent, which consisted of organic sales growth of 4.5 percent, a decrease of 0.3 percent from foreign currency translation and a decrease of 2.3 percent from divestitures ...

For More Information Contact: Investor Contact: Ann Thornton (414) 438-6887 Media Contact: Kate Venne (414) 438-5176 MILWAUKEE, May 21, 2024 (GLOBE NEWSWIRE) -- On May 20, 2024, Brady Corporation's (NYSE: BRC) Board of Directors declared a dividend to shareholders of the company's Class A Common Stock of $0.235 per share, payable on July 31, 2024, to shareholders of record at the close of business on July 10, 2024. Brady Corporation is an international manufacturer and marketer of complete solutions that id ...

MILWAUKEE, May 21, 2024 (GLOBE NEWSWIRE) -- On May 20, 2024, Brady Corporation's (NYSE: BRC) Board of Directors declared a dividend to shareholders of the company's Class A Common Stock of $0.235 per share, payable on July 31, 2024, to shareholders of record at the close of business on July 10, 2024. Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places. Brady's products help customers increase safety, security, productivi ...

Core Points - Tom Brady expressed a commitment to being "a better parent" following a Netflix comedy special that humorously addressed his divorce from Gisele Bundchen [1][6] - The roast featured comedians, including Kevin Hart, who made jokes about Brady's split and the circumstances surrounding it [3][4] - Brady reflected on the impact of the divorce on his children and acknowledged that the experience has made him more aware as a parent [2][6] Summary by Sections Divorce and Comedy Special - The Netflix special, "The Roast Of Tom Brady," included jokes about Brady's divorce from Gisele Bundchen after 13 years of marriage [1][3] - Kevin Hart, the host, referenced the divorce, suggesting that Brady's single life was a result of an ultimatum from Bundchen regarding his retirement [3][4] Parental Reflections - Brady mentioned that the experience of the roast and the divorce has taught him valuable lessons about parenting [2][6] - He has two children with Bundchen, Benjamin (14) and Vivian (11), and a third child, John (16), from a previous relationship [2] Support from Peers - David Beckham reached out to Brady after the roast aired to check on his well-being, indicating that it was difficult for friends to watch the special [7]

MILWAUKEE, March 15, 2024 (GLOBE NEWSWIRE) -- Brady Corporation (NYSE:BRC) ("Brady") announced today that it has entered into exclusive negotiations to acquire Gravotech Holding ("Gravotech") for approximately EUR 123 million (approximately USD 133 million). Brady expects to fund the transaction with cash on hand as well as with borrowings on its existing credit agreement, and expects to close the transaction by the end of its fiscal year ending July 31, 2024, subject to prior completion of the information- ...

Brady Corporation (NYSE:BRC) Q2 2024 Earnings Conference Call February 22, 2024 10:30 AM ET Company Participants Ann Thornton - Chief Financial Officer & Treasurer Russell Shaller - President & Chief Executive Officer Conference Call Participants Steve Ferazani - Sidoti Keith Housum - Northcoast Research Operator Good day and thank you for standing by. Welcome to Brady Corporation's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' p ...

BRADY CORPORATION AND SUBSIDIARIES SEGMENT INFORMATION (Unaudited; Dollars in thousands) Net Income Excluding Certain Items: | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------|-------|-----------------------------------------|-------|-------------| | Diluted EPS Excluding Certain Items Guidance: \nEarnings per Class A Nonvoting Common Share (GAAP measure) | $ | Fiscal 2024 Expectations \nLow \n3.80 | $ | Hig ...