Brady (BRC) Q2 FY2024 earnings: revenue $323 million, down 1.1% on the year

Brady Corp. (BRC) reported revenue of $323 million for Q2 FY2024, the quarter ended 31 January 2024, down 1.1% on the same quarter a year earlier. Net income was $44 million, up 14.9% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 22 February 2024.

Revenue$323 milliondown 1.1%

Net income$44 millionup 14.9%

Diluted EPSn/a

QuarterQ2 FY2024ended 31 January 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	323	332	n/a	n/a
Cost of revenue	161	160	n/a	n/a
Gross profit	162	172	n/a	n/a
Gross margin	50.2%	51.7%	n/a
Research and development	16.8	15.7	n/a	n/a
Selling, general and administrative	91.3	96.3	n/a	n/a
Operating income	53.9	59.7	n/a	n/a
Operating margin	16.7%	18.0%	n/a
Interest expense	0.8	0.8	n/a	n/a
Pre-tax income	55.8	59.4	n/a	n/a
Income tax	12.2	12.2	n/a	n/a
Effective tax rate	21.8%	20.5%	n/a
Net income	43.6	47.2	n/a	n/a
Net margin	13.5%	14.2%	n/a
Diluted EPS	n/a	$0.97	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	36.1	62.3	n/a	n/a
Capital expenditure	49.6	11.3	n/a	n/a
Free cash flow	-13.5	51.0	n/a	n/a
Free cash flow margin	-4.2%	15.4%	n/a
Cash from investing	-49.6	-11.3	n/a	n/a
Cash from financing	-21.5	-21.5	n/a	n/a
Depreciation and amortisation	7.5	7.5	n/a	n/a
Share-based compensation	1.1	4.2	n/a	n/a
Buybacks	7.7	14.1	n/a	n/a
Dividends paid	11.4	11.3	n/a	n/a
Diluted shares, weighted	49m	49m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	1,039	995	n/a	n/a
Debt	48.1	52.3	n/a	n/a
Operating lease liabilities	12.5	14.5	n/a	n/a
Other liabilities	308	322	n/a	n/a
Total liabilities and equity	1,408	1,383	n/a	n/a
Fixed assets	191	144	n/a	n/a
Goodwill	591	584	n/a	n/a
Intangible assets	57.1	58.8	n/a	n/a
Cash and equivalents	144	175	n/a	n/a
Receivables	186	180	n/a	n/a
Inventory	165	167	n/a	n/a
Other assets	74.8	74.9	n/a	n/a
Total assets	1,408	1,383	n/a	n/a

Questions

What was Brady's revenue in Q2 FY2024?

Brady (BRC) reported revenue of $323 million for Q2 FY2024, the quarter ended 31 January 2024, down 1.1% on the same quarter a year earlier.

How much did Brady earn in Q2 FY2024?

Net income for Q2 FY2024 was $44 million, up 14.9% on the year.

When did Brady report Q2 FY2024 results?

Brady filed its 10-Q for the quarter ended 31 January 2024 with the SEC on 22 February 2024.

Quarterly results, the last 12 quarters

	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *
Revenue	332	323	343	343	377	357	383	397	405	384	435	437
Cost of revenue	160	161	166	166	187	181	188	197	196	190	210	206
Gross profit	172	162	177	177	190	176	195	200	209	194	225	231
Gross margin	52%	50%	52%	52%	50%	49%	51%	50%	52%	51%	52%	53%
R&D	15.7	16.8	17.7	17.5	18.9	18.7	19.2	23.1	23.3	24.3	23.5	22.9
SG&A	96.3	91.3	95.8	93.3	112	106	109	118	118	108	129	148
Operating income	59.7	53.9	63.5	66.2	58.9	51.2	67.2	59.3	68.0	62.2	73.2	60.1
Operating margin	18%	17%	19%	19%	16%	14%	18%	15%	17%	16%	17%	14%
Interest expense	0.8	0.8	0.7	0.8	1.4	1.3	0.9	1.1	1.2	1.0	1.3	6.2
Pre-tax income	59.4	55.8	64.4	68.2	58.8	52.0	65.7	60.5	68.5	62.0	73.4	55.6
Tax rate	20%	22%	21%	19%	20%	23%	21%	18%	21%	23%	21%	18%
Net income	47.2	43.6	50.9	55.5	46.8	40.3	52.3	49.9	53.9	48.1	57.8	45.6
Net margin	14%	14%	15%	16%	12%	11%	14%	13%	13%	13%	13%	10%
Diluted EPS	$0.97	n/a	n/a	$1.15	$0.97	n/a	n/a	$1.04	$1.13	n/a	n/a	$0.96
Operating cash flow	62.3	36.1	72.7	84.0	23.4	39.6	59.9	58.3	33.4	53.3	78.2	79.2
Capital expenditure	11.3	49.6	8.3	10.7	7.3	7.1	4.3	8.9	11.0	11.0	11.0	18.5
Free cash flow	51.0	-13.5	64.4	73.2	16.1	32.5	55.6	49.4	22.4	42.3	67.2	60.7
Buybacks	14.1	7.7	50.4	0.0	0.0	0.0	33.2	17.7	4.1	4.9	5.2	28.1
Dividends paid	11.3	11.4	11.2	11.2	11.4	11.5	11.4	11.3	11.5	11.6	11.6	11.5
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 January 2024, filed 22 February 2024, accession 0000746598-24-000009: the filing on EDGAR. All of Brady Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install