Brady Corp. (BRC) Tops Q1 EPS by 7c

Brady Corp. (NYSE: BRC) reported Q1 EPS of $0.70, $0.07 better than the analyst estimate of $0.63. Revenue for the quarter came in at $286.9 million versus the consensus estimate of $293.67 million.

GUIDANCE:

Brady Corp. sees FY2020 EPS of $2.50-$2.60, versus the consensus of $2.57.

• The Company is increasing its full year fiscal 2020 earnings per diluted Class A Nonvoting Common Share guidance from its previous range of $2.45 to $2.55 to a range of $2.50 to $2.60 due to a reduction in its income tax rate. Included in this guidance is organic sales growth of approximately 1.5 to 2.5 percent, a full-year income tax rate of approximately 20 percent, and depreciation and amortization of approximately $25 million. The Company expects to achieve efficiency gains in its manufacturing facilities and in selling, general and administrative expenses. Capital expenditures are expected to be approximately $35 million during the year ending July 31, 2020. This guidance is based upon foreign currency exchange rates as of October 31, 2019.

For earnings history and earnings-related data on Brady Corp. (BRC) click here.

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