Brady (BRC) reported fiscal 2022 fourth-quarter results on September 1. Here's why it's still a buy.
reported fiscal 2022 fourth-quarter results on September 1. Hurt by pressure from unfavorable currency translation, which cut 5.7% from the top line, net sales for the period of $324.0 million came in $7.1 million below analysts’ expectations. But thanks to contributions from the acquisitions of Magicard Limited, Nordic ID and Code Corp.
adjusted earnings rose 16.0% to a record 87 cents per share and exceeded the consensus estimate by 2 cents.What’s more, this solid operating performance also led to the production of another $32.2 million in free cash flow, which allowed BRC to take advantage of its cheap share price to repurchase an additional $24.3 million of its common stock while still maintaining a net cash position of $19.1 million.
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