Brady Corporation · NYSE:BRC
Brady — Q1 2021 Earnings Presentation
15 slides from Brady's earnings presentation, Nov 19, 2020
Slide 1: Brady Corporation F'21 Q1 Financial Results
Brady Corporation F’21 Q1 Financial Results November 19, 2020
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 In this presentation, statements that are not reported financial results or other historic information are “forward-looking statements.” These forward-looking statements relate to, among other things, the Company's future financial position, business strategy, targets, p
Slide 3: Managing Through the Pandemic
Managing Through the Pandemic 3 Managing Through the Pandemic: • Thank you to all of the Brady employees and front-line workers. • Brady is an essential business. • Brady’s products are helping in the fight of COVID-19. Key Messages: • Workplace Safety performed well. We grew revenues and expanded o
Slide 4: Q1 F'21 Financial Summary
Q1 F’21 Financial Summary 4 • Sales were $277.2M in Q1 of F’21 compared with $286.9M in Q1 of F’20. – Organic sales declined 4.9%. – Foreign currency translation increased sales 1.5%. • Gross profit margin of 48.9% in Q1 of F’21 compared with 49.3% in Q1 of F’20. • SG&A expense of $83.0M (30.0% of s
Slide 5: Sales Overview
Sales Overview 5 SALES (millions of USD) $298 $297 $293 $295 $300 $290 $288 $290 $287 $282 $277 $277 $275 $266 $252 $250 $225 $200 Q1 F'18 Q2 F'18 Q3 F'18 Q4 F'18 Q1 F'19 Q2 F'19 Q3 F'19 Q4 F'19 Q1 F'20 Q2 F'20 Q3 F'20 Q4 F'20 Q1 F'21 Organic Sales 1.7% 3.2% 3.2% 2.5% 4.7% 2.3% 2.4% 1.7% (0.4%) (1.2
Slide 6: Gross Profit Margin
Gross Profit Margin 6 GROSS PROFIT & GPM% (millions of USD) 50.6% 50.3% 50.3% 50.3% 49.9% 50.0% 49.6% 49.5% 49.6% $151 49.3% 50% 48.7% 48.9% $147 $150 $146 $147 $146 $147 $144 47.1% $140 $141 $139 $135 $130 45% $125 $119 $100 40% Q1 F'18 Q2 F'18 Q3 F'18 Q4 F'18 Q1 F'19 Q2 F'19 Q3 F'19 Q4 F'19 Q1 F'2
Slide 7: SG&A Expense
SG&A Expense 7 SG&A EXPENSE AND SG&A EXPENSE AS A % of SALES (millions of USD) 34.5% 33.9% 34.1% 32.3% 32.8% 32.7% 35% $110 31.6% 31.3% 30.6% 30.2% 31.2% 30.2% $102 30.0% $100 30% $100 $98 $95 $95 $93 $91 $89 $90 $90 $87 25% $83 $83 20% $80 $76 $70 15% $60 10% Q1 F'18 Q2 F'18 Q3 F'18 Q4 F'18 Q1 F'19
Slide 8: R&D Expense
R&D Expense 8 R&D EXPENSE AND R&D EXPENSE AS A % of SALES (millions of USD) $14.0 3.9% 3.9% 3.9% 3.9% 3.9% 3.9% 4.0% 3.8% 3.8% 3.8% 3.7% 3.6% 3.7% 3.7% $12.0 $11.7 $11.7 $11.3 $11.3 $11.4 $11.3 $11.1 $11.0 $10.5 $10.5 3.5% $10.2 $9.8 $10.0 $9.4 3.0% $8.0 $6.0 2.5% Q1 F'18 Q2 F'18 Q3 F'18 Q4 F'18 Q1
Slide 9: Income Before Income Taxes
Income Before Income Taxes 9 INCOME BEFORE INCOME TAXES AND LOSSES OF UNCONSOLIDATED AFFILIATE (millions of USD) $50 $47.1 $45.2 $41.6 $42.4 $42.2 $39.9 $41.0 $40 $37.0 $36.7 $34.8 $35.0 $34.9 $30 $22.2 $20 $10 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 F'18 F'18 F'18 F'18 F'19 F'19 F'19 F'19 F'20 F'20
Slide 10: Net Income & Diluted EPS
Net Income & Diluted EPS 10 NET INCOME PER CLASS A DILUTED SHARE NET INCOME (millions of USD) $0.68 $0.70 $0.66 $0.65 $0.62 $0.64 $40 $36.6 $37.5 $0.58 $35.0 $34.8 $33.6 $33.5 $0.60 $0.55 $0.53 $30.6 $29.2 $0.49 $0.49 $27.7 $30 $25.8 $26.0 $0.40 $20 $0.26 $13.6 $0.20 $10 $0.08 $4.3 $0.00 $0 Q1 Q2 Q3
Slide 11: Cash Generation & Uses
Cash Generation & Uses 11 CASH FLOW FROM OPERATING ACTIVITIES (millions of USD) CASH FLOWS IN Q1 OF F’21: • Cash flow from operating activities was $62.8M $65.3 $62.8 in Q1 of F’21 compared to $38.8M in Q1 of F’20. $60 $53.8 $52.7 • Cash flow from operating activities was $46.8 $42.8 $45.1 $38.8 sig
Slide 12: Net Cash
Net Cash 12 NET CASH (millions of USD) $300 $256 $250 $245 $240 $229 $218 $200 $188 $190 $151 $150 $138 $129 $100 $73 $48 $50 $44 $0 Q1 F'18 Q2 F'18 Q3 F'18 Q4 F'18 Q1 F'19 Q2 F'19 Q3 F'19 Q4 F'19 Q1 F'20 Q2 F'20 Q3 F'20 Q4 F'20 Q1 F'21 STRONG BALANCE SHEET: • October 31, 2020 cash = $256.3M. • Appr
Slide 13: Identification Solutions Q1 F'21 vs. Q1 F'20
Identification Solutions 13 Q1 F’21 vs. Q1 F’20 (millions of USD) Q1 F’21 SUMMARY: • Revenues declined - (7.8%): Q1 F’21 Q1 F’20 Change • Organic = - (8.4%). Sales $ 198.2 $ 215.0 - 7.8% • Fx = + 0.6% Segment Profit 40.3 42.4 - 5.1% • Organic sales continued to improve sequentially over each of the
Slide 14: Workplace Safety Q1 F'21 vs. Q1 F'20
Workplace Safety 14 Q1 F’21 vs. Q1 F’20 (millions of USD) Q1 F’21 SUMMARY: • Revenues increased + 9.8%: Q1 F’21 Q1 F’20 Change • Organic = + 5.5%. Sales $ 79.0 $ 72.0 + 9.8% • Fx = + 4.3%. Segment Profit 8.0 5.2 + 54.9% • Organic sales increased due to increased sales of products directly related to
Slide 15: Investor Relations
Investor Relations 15 Brady Contact: Ann Thornton Investor Relations 414-438-6887 Ann_Thornton@bradycorp.com See our web site at www.bradycorp.com