By Dean Seal
Brady Corp. recorded a smaller profit in its fiscal second quarter as the company's operating costs grew at a sharper rate than its sales.
The maker of workplace products, including safety signs and industrial printers, posted a profit of $40.3 million, or 83 cents a share, for the quarter ended Jan. 31. That's down from $43.6 million, or 90 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were $1 a share.
Sales rose almost 11% to $356.7 million. On an organic basis, sales were up 2.6%, with the rest of the top-line gain coming from acquisitions. Foreign-currency translation was a headwind during the quarter.
Overall costs, including those for overhead and R&D, meanwhile climbed more than 15%, eating into the company's operating income.
For the full fiscal year, Brady is raising the low end of its adjusted earnings outlook by 5 cents to $4.45 a share. It still expects up to $4.70 a share.
Shares slid 1.5% to $73.44 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 21, 2025 07:33 ET (12:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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