Brady Corp. (NYSE:BRC) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.93%.
Brady Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.51% to $0.55 in the quarter versus EPS of $0.57 in the year-earlier quarter.
Revenue: Decreased 7.82% to $305.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Brady Corp. reported adjusted EPS income of $0.55 per share. By that measure, the company missed the mean analyst estimate of $0.6. It missed the average revenue estimate of $368.38 million.
Quoting Management: “In the face of a challenging economy, we continue to position Brady for long-term success by optimizing our portfolio of businesses, aligning our organization with growth opportunities and reducing our infrastructure costs. This morning we announced our intention to sell our Die-Cut business which will continue the process of portfolio realignment as we have already divested three businesses and acquired Precision Dynamics Corporation, a business serving the healthcare space. These portfolio adjustments will allow us to focus more on our continuing businesses of Identification Solutions and Workplace Safety,” stated Brady’s President and Chief Executive Officer, Frank M. Jaehnert.
Key Stats (on next page)…