Brady Corporation (NYSE:BRC) reports 1Q19 Profit Up 18%; Lifts Outlook

Brady Corporation (NYSE:BRC) reported net income for the first quarter of $ 30.64 million or $ 0.58 per share, compared to income $ 25.84 million or $ 0.49 per share for the year-ago quarter.

The Milwaukee based company recorded net sales for first quarter rose 1% to $ 293.20 million from $ 290.15 million in the same quarter last year.

Analysts polled by Thomson Reuters expected BRC to report loss of $ -0 per share on revenue of $ 294.55 million for the first quarter.

President and CEO, J. Michael Nauman, commented, This quarter also represents our thirteenth consecutive quarter of year-over-year pre-tax earnings growth. We apply a consistent and balanced approach to generating organic sales growth while driving sustainable efficiency gains throughout our global operations and SG&A structure. We expect this positive organic sales trend to continue as we invest in new product development in our global businesses and as our Workplace Safety business returns to consistent organic sales growth.

Looking ahead, Brady Corporation anticipates full year 2019 diluted earnings of $ 2.20 to $ 2.30 per share from the previous range of $2.15 to $2.25 per share.