RTTNews | Nov 18, 2021 07:40AM EST

07:40 Thursday, November 18, 2021 (RTTNews.com) - While reporting financial results for the first quarter on Thursday, Brady Corp. (BRC) maintained its earnings and adjusted earnings guidance for the full-year 2022.

For fiscal 2022, the company continues to project earnings in the range of $2.90 to $3.10 per Class A nonvoting common share and adjusted earnings in the range of $3.12 to $3.32 per Class A nonvoting common share.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $3.17 per share for the year. Analysts' estimates typically exclude special items.

For the first quarter, net income grew to $35.0 million or $0.67 per share, compared to $33.5 million or $0.64 per share in the prior-year quarter. Excluding items, adjusted earnings per Class A nonvoting common share was $0.72, compared to last year's $0.66.

Sales for the quarter increased 16.0 percent to $321.5 million from $277.2 million in the same quarter last year. Organic sales increased 7.0 percent.

The Street was looking for earnings of $0.73 per share on net sales of $313.79 million for the quarter.

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