Q3 2024 Brady Corp Earnings Call Transcript
Key Points
- Brady Corp (BRC) achieved a new company record high earnings per share this quarter.
- Total organic sales growth was 4.5%, with improved gross profit margin to 51.6%.
- Strong cash generation continued, with operating cash flow increasing from $72.5 million to $72.7 million this quarter.
- The company returned funds to shareholders through both quarterly dividends and increased share buybacks, totaling $61.6 million.
- Several new products were launched, including a rugged barcode scanner, an industrial inkjet color label printer, and a reengineered floor marking tape.
- Economic conditions in China remain challenging, with sales declining over 17% in the region.
- Healthcare segment has been a continual drag on organic growth due to stagnant hospital admissions.
- SG&A expenses increased from $91 million to $95.8 million this quarter.
- Foreign currency translation decreased sales by 0.3%, and the impact of divestitures reduced sales by 2.3%.
- Gross margin improvements may not be sustainable, with the current quarter's margin potentially being a high watermark.
Good day, and thank you for standing by. Welcome to the third-quarter 2024 Brady Corporation earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Ann Thornton, CFO. Please go ahead.
Thank you. Good morning, and welcome to the Brady Corporation fiscal 2024 third-quarter earnings conference call. The slides for this morning's call are located on our website at www.bradycorp.com/investors. We will begin our prepared remarks on slide number 3.
Please note that during this call, we may make comments about forward-looking information. Words such as expect, will, may, believe, forecast, and anticipate are just a few examples of words identifying a forward-looking statements. It's important to note that forward-looking information is subject to various risk factors and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
