Q4 2024 Brady Corp Earnings Call Transcript
Key Points
- Brady Corp (BRC) achieved record high EPS for both the quarter and the year, with non-GAAP EPS of $4.22 and GAAP EPS of $4.07.
- The company grew organic sales by 2.6% for the year, driven by both regional segments.
- Gross profit margin improved to 51.3%, up from 49.4% last year.
- Brady Corp (BRC) closed the acquisition of Gravotech, enhancing its product portfolio.
- The company returned $117 million to shareholders through dividends and share buybacks, and announced an additional $100 million share buyback authorization.
- Organic sales in the Europe and Australia region declined by 1.8% compared to the previous year's fourth quarter.
- The macro-environment in Europe has become more challenging, impacting sales growth.
- Despite overall growth, the company faces potential risks such as the strengthening of the US dollar and inflationary pressures.
- China's market showed a decline of just over 6% organically this quarter.
- The company anticipates low-single digit organic sales growth for the year ending July 31, 2025, indicating modest growth expectations.
Good day, and thank you for standing by. Welcome to the Q4 2024 Brady Corporation earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Ann Thornton, CFO. Please go ahead.
Thank you. Good morning, and welcome to the Brady Corporation fiscal 2024 fourth-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 statement.
It's important to note that forward-looking information is subject to various risk factors and
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