The following is a summary of the Brady Corporation (BRC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Brady Corporation reported a Q3 total organic sales growth of 4.5% and an improved gross profit margin of 51.6%.

• Earnings per share (EPS) reached a company record high this quarter.

• The company purchased 863,000 shares amounting to $50.4 million as part of their ongoing commitment to rewarding shareholders.

• The GAAP EPS was reported at $1.05 per share, an increase of 9.4% from last year's Q3 EPS.

• The non-GAAP EPS was reported at $1.09 per share, a 14.7% increase from the same period the previous year.

• The company increased its annual dividend for the 38th sequential year.

Business Progress:

• Brady Corporation introduced several new products such as a rugged barcode scanner, an industrial jet color label printer, and ToughStripe Max - a re-engineered floor marking tape.

• They continued their efforts in expanding their footprint in technology space, especially in generative AI, to enhance productivity and assist their sales force in being more effective.

• Significant organic sales growth was seen in both regions of operation - Americas and Asia (4.5%), and Europe and Australia (4.4%).

• The company aims to continue investing in Research & Development, and sales-generating resources to execute further growth opportunities.

• Brady is awaiting regulatory approval for the acquisition of Gravotech and intends to expand their portfolio to Value-Added Resellers (VARs).

More details: Brady Corp IR

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