Brady Corp. posted second quarter earnings of $0.81 compared to $0.70 per share a year ago . On average, three analysts polled by Thomson Reuters expected earnings of $0.80 per share for the quarter. (Analysts' estimates typically exclude special items).
Sales increased +2.6 percent to $326.2 million, vs. analysts’ expectations of $313.68 million. Organic sales rose +6.3 percent. Foreign currency translation had adverse impact of -3.7 percent.
For the year ending July 31, 2023, the company raised the low end of its GAAP earnings per class A nonvoting common share outlook to the $3.23 to $3.43 per share from the prior forecast of $3.13 to $3.43 per share.