Brady Corporation
- Brady Corp soared 11.1% to $56.48 after the company posted quarterly results and reported adjusted earnings per share of $1.04.
Sales in the fiscal fourth quarter ending in July increased 6.8% to $345 .9 million from $324 million and net income rose to $49.4 million from $41 million and diluted earnings per share advanced to $1.0 from 81 cents a year ago.
During the quarter and year ended July 31, the company returned $56.4 million and $120.4 million, respectively, to shareholders in the form of dividends and share repurchases.
On August 30, the Board of Directors authorized an additional $100 million of shares for repurchase, about 2 million shares based on current share price and approximately 4.4% of total outstanding shares.
The industrial printer maker forecasted diluted earnings per share in the fiscal 2024 to range between $3.70 and $3.95.
Sep 5, 2023
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