| Over a month ago | ||||
React Mobile announces it… React Mobile announces it has raised $6M through a new strategic partnership with publicly traded Brady Corporation. Together, React Mobile and Brady will jointly develop new solutions that help customers increase safety, security, productivity and performance to further their shared mission of promoting employee safety everywhere. | ||||
Sidoti analyst Joseph… Sidoti analyst Joseph Mondillo upgraded Brady to Buy from Neutral with a $59 price target. | ||||
Due to the uncertainty… Due to the uncertainty around the duration and depth of the economic contraction caused by the COVID-19 pandemic, the Company is withdrawing its previously communicated full-year fiscal 2020 financial guidance, which was provided on February 20, 2020. | ||||
Reports Q3 revenue… Reports Q3 revenue $256.9M, consensus $261.17M. "During these challenging times, as a highly-innovative essential business, Brady is more focused than ever on doing our part to serve the front-line workers and other essential companies with the products and services they need to help fight this global pandemic," said Brady's President and Chief Executive Officer, J. Michael Nauman. "Brady's operations are up and running all around the globe producing products that are going to first responders, healthcare providers, food processing, transportation and many other critical industries. Our foremost focus has been on the safety of our employees as well as supporting our customers with the highest level of service that they have come to expect from Brady. This quarter, we saw strong demand for our products through the first half of March and then demand declined in late March and April as a result of the challenging macro environment. Demonstrating the strength of Brady, even in this tough environment, we posted cash flow from operating activities well in excess of net income." | ||||
| Over a quarter ago | ||||
Conference call with… Conference call with management to be held on March 26 hosted by Sidoti. | ||||
Conference call with… Conference call with management to be held on March 26 hosted by Sidoti. | |
Included in this guidance… Included in this guidance is organic sales growth of approximately flat to slightly positive, a full-year income tax rate of approximately 20 percent, and depreciation and amortization of approximately $25 million. The Company expects to continue capturing efficiency gains in its manufacturing facilities and in selling, general and administrative expenses. Capital expenditures are expected to approximate $35 million during the year ending July 31, 2020. This guidance is based upon foreign currency exchange rates as of January 31, 2020. | |
Reports Q2 revenue… Reports Q2 revenue $276.7M, consensus $282.01M. By segment, sales declined 1.8 percent in Identification Solutions and declined 2.6 percent in Workplace Safety, which consisted of organic sales declines of 1.3 percent in Identification Solutions and 1.0 percent in Workplace Safety. "This quarter marks our 18th consecutive quarter of year-on-year pre-tax income growth," said Brady's President and Chief Executive Officer, J. Michael Nauman. "Global demand for industrial products has declined in many markets which led to a modest decrease in organic sales this quarter. Our investments in developing innovative new products and our relentless focus on executing sustainable efficiency gains throughout our manufacturing facilities and SG&A structure enabled Brady to once again post solid financial results in a challenging industrial economic environment. Our investments in new products and our focus on efficiency gains has enabled us to deliver improved financial results over the last four years and positions us well for strong revenue and earnings growth as our end markets recover from the recent macro-economic weakness." | |
Meetings to be held in… Meetings to be held in Canada on January 14-15 hosted by Oppenheimer. | |
Wells Fargo analyst… Wells Fargo analyst Allison Poliniak-Cusic downgraded Brady to Underweight from Equal Weight. |