(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Brady Corp. (BRC) initiated its earnings and adjusted earnings guidance for the full-year 2023.
For fiscal 2022, the company now projects earnings in the range of 3.13 to $3.43 per share and adjusted earnings in the range of $3.30 to $3.60 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.09 per share for the year. Analysts' estimates typically exclude special items.
For the fourth quarter, net income grew to $41.1 million or $0.81 per share, compared to $28.0 million or $0.53 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.87 per share, compared to last year's $0.75 per share.
Sales for the quarter increased 5.8 percent to $324.0 million from $306.1 million in the same quarter last year. Organic sales increased 9.0 percent.
The Street was looking for earnings of $0.85 per share on net sales of $332.24 million for the quarter.
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