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Brady (BRC) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Feb 21, 2025
Brady (BRC) reported revenue of $357M for the second quarter fiscal 2025 (Q2 FY25), +11% from a year earlier and -5% from the quarter before. Operating margin was 14.4%, net earnings $40.3M (11.3% of revenue).
Brady, Q2 FY25: revenue $357M (+11% year over year), operating margin 14.4%, net earnings $40.3M, operating cash flow $39.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $357M | -5% | +11% |
| Gross profit | $176M | -7% | +8% |
| Operating profit | $51.2M | -13% | -5% |
| Net earnings | $40.3M | -14% | -8% |
| Operating cash flow | $39.6M | +69% | +10% |
| Free cash flow | $32.5M | +101% | — |
What changed
Revenue was $356.7M in Q2 FY25, up 11% year over year and down 5% from the previous quarter. Americas & Asia was the largest line at 66% of revenue. Americas & Asia added $22.2M year over year (up 10%), 65% of the total change.
Gross margin was 49.3%, down 0.9 points from a year earlier. Operating profit was $51.2M, a 14.4% margin (down 2.4 points year over year). Operating profit fell $2.7M even though revenue rose $34.1M versus a year earlier, so costs grew faster than sales. Operating expenses grew 15% against revenue growth of 11%. The fastest-growing cost line was SG&A (+16%). Net earnings were $40.3M, down 8% year over year. The effective tax rate was 22.5%.
Operating cash flow was $39.6M (up 10% year over year), 98% of net earnings. Non-cash charges added back $9.9M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items used $12.9M. Capital expenditures of $7.1M left free cash flow of $32.5M.
Questions
What was Brady's revenue in the second quarter fiscal 2025?
Brady (BRC) reported revenue of $357M for the second quarter fiscal 2025 (Q2 FY25), +11% from a year earlier and -5% from the quarter before.
Was Brady profitable in the second quarter fiscal 2025?
Operating profit was $51.2M (14.4% of revenue) and net earnings $40.3M.
Source: Brady 10-Q on SEC EDGAR.