Slide 1: Brady Corporation F'25 Q2 Financial Results
Brady Corporation F’25 Q2 Financial Results February 21, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 In this news release, 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: Q2 F'25 Highlights
Q2 F’25 Highlights 3 Organic sales growth of 2.6%. Sales Growth Americas & Asia organic sales growth of 4.3%. Europe & Australia organic sales decline of 0.8%. Acquisition growth of 10.2%. GPM of 49.3% compared to 50.2% in Q2 of F’24. Gross Profit Margin Gross profit includes facility closure and ot
Slide 4: Sales Overview
Sales Overview 4 SALES (millions of USD) $377 $375 $357 $346 $343 $343 $350 $339 $337 $332 $324 $323 $326 $323 $321 $325 $318 $300 $275 $250 $225 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 Organic 7.0% 13.1% 9.0% 9.0% 6.9% 6.3% 1.9
Slide 5: Gross Profit Margin
Gross Profit Margin 5 GROSS PROFIT & GPM% (millions of USD) $200 51.7% 51.6% 51.6% 52% 50.8% 50.4% 50.3% 50.2% 50.3% $190 49.3% 50% 48.4% $176 $177 $177 $175 48.2% 48.1% 48.0% $172 $170 $176 48% 47.0% $164 $163 $162 $155 $155 $156 46% $149 $150 44% 42% $125 40% $100 38% Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'
Slide 6: SG&A Expense
SG&A Expense 6 SG&A EXPENSE AND SG&A EXPENSE AS A % OF SALES (millions of USD) $120 35% 29.7% $110 30.1% 29.7% 29.1% 29.2% 29.0% $112 28.4% 27.9% 28.3% 28.2% 28.3% 27.9% 30% 27.0% 27.2% $106 $100 $97 $96 $97 $96 $96 $95 $93 25% $93 $92 $91 $90 $91 $90 20% $80 15% $70 $60 10% Q1 F'22 Q2 F'22 Q3 F'22
Slide 7: R&D Expense
R&D Expense 7 R&D EXPENSE AND R&D EXPENSE AS A % OF SALES (millions of USD) $20.0 5.2% 5.2% 5.5% 5.1% 5.1% 5.0% 4.9% 4.7% 4.7% 4.7% 4.7% $17.7 $18.7 $18.0 $17.5 $18.9 4.4% 4.4% 4.3% $16.8 4.3% $16.3 4.5% $16.0 $15.8 $15.7 $15.7 $15.4 $14.9 $13.9 $14.0 $13.9 $14.0 3.5% $12.0 2.5% $10.0 $8.0 1.5% Q1 F
Slide 8: Income Before Income Taxes
Income Before Income Taxes 8 INCOME BEFORE INCOME TAXES (GAAP) (millions of USD) $70 $64.4 $68.2 $63.0 $63.8 $59.4 $58.8 $60 $55.8 $54.0 $52.0 $51.3 $50.3 $48.5 $50 $44.7 $42.0 $40 $30 $20 $10 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 F'22 F'22 F'22 F'22 F'23 F'23 F'23 F'23 F'24 F'24 F'24 F'24 F'25
Slide 9: Net Income & Diluted EPS
Net Income & Diluted EPS 9 NET INCOME (GAAP) (millions of USD) DILUTED EPS (GAAP) $60 $1.20 $1.15 $55.5 $1.05 $1.00 $50.9 $1.00 $0.96 $0.97 $0.97 $49.4 $0.90 $50 $48.1 $47.2 $46.8 $0.81 $0.79 $0.83 $43.6 $0.78 $0.80 $0.76 $40.1 $41.1 $39.4 $40.3 $0.67 $0.65 $40 $38.0 $35.0 $0.60 $33.8 $30 $0.40 $20
Slide 10: Cash Generation
Cash Generation 10 CASH FLOW FROM OPERATING ACTIVITIES (millions of USD) $95 $84.0 $79.3 $72.5 $72.7 $70 $62.3 CASH FLOWS IN Q2 OF F’25: $53.2 Overview: $45 $40.9 $39.6 $36.1 $27.5 $28.0 $29.4 Cash flow from operating activities was $39.6M in $23.4 Q2 of F’25 vs. $36.1M in Q2 of F’24. $20 ($3.2) Fre
Slide 11: Net Cash
Net Cash 11 NET CASH (millions of USD) $350 $300 $250 $200 $159 $150 $123 $102 $96 $97 $100 $91 $84 $64 $51 $50 $26 $31 $29 $19 $15 $0 Q1 F'22 Q2 F'22 Q3 F'22 Q4 F'22 Q1 F'23 Q2 F'23 Q3 F'23 Q4 F'23 Q1 F'24 Q2 F'24 Q3 F'24 Q4 F'24 Q1 F'25 Q2 F'25 STRONG BALANCE SHEET: January 31, 2025 cash = $138.5M
Slide 12: F'25 Diluted EPS Guidance
12 F’25 Diluted EPS Guidance GAAP Diluted EPS $3.99 to $4.24 F’25 Adjusted Diluted EPS* $4.45 to $4.70 Guidance Assumptions: Organic sales growth in the low-single digit percentages. Full-year income tax rate of approximately 21%. Foreign currency exchange rates as of January 31, 2025. Depreciation
Slide 13: Americas & Asia
Americas & Asia 13 Q2 F’25 vs. Q2 F’24 (millions of USD) Q2 F’25 SUMMARY: • Revenues increased 10.5% in Q2 of F’25: Q2 F’25 Q2 F’24 Change • Organic growth = + 4.3%. Sales $ 233.8 $ 211.6 10.5% • Fx decrease = (1.4%). • Acquisition = + 7.6%. Segment Profit 46.0 43.9 + 4.8% • Organic sales grew 3.4%
Slide 14: Europe & Australia
Europe & Australia 14 Q2 F’25 vs. Q2 F’24 (millions of USD) Q2 F’25 SUMMARY: • Revenues increased 10.7% in Q2 of F’25: Q2 F’25 Q2 F’24 Change • Organic decline = (0.8%). Sales $ 122.8 $ 111.0 10.7% • Fx decrease = (3.6%). • Acquisition = 15.1% Segment Profit 11.4 15.1 (24.4%) • Organic sales were fl
Slide 15: Investor Relations
Investor Relations 15 Brady Contact: Ann Thornton Investor Relations 414-438-6887 Ann_Thornton@bradycorp.com See our website at www.bradycorp.com/investors
Slide 16: Appendix: GAAP to Non-GAAP Reconciliations
Appendix GAAP to Non-GAAP Reconciliations
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations 17 GAAP to NON-GAAP MEASURES (Unaudited; Dollars in Thousands, Except Per Share Amounts) In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconcilia
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations 18 GAAP to NON-GAAP MEASURES (Unaudited; Dollars in Thousands, Except Per Share Amounts) In accordance with the U.S. Securities and Exchange Commission’s Regulation G, the following provides definitions of the non-GAAP measures used in the earnings release and the reconcilia