Brady Corporation (NYSE:BRC) Q4 2023 Earnings Conference Call September 5, 2023 10:30 AM ET
Company Participants
Ann Thornton - Chief Financial Officer
Russell Shaller - President and Chief Executive Officer
Conference Call Participants
Keith Housum - Northcoast Research
Steve Ferazani - Sidoti
Operator
Good day, and welcome to the Brady Corporation Fourth Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today Ann Thornton, Chief Financial Officer. Please go ahead.
Ann Thornton
Thank you. Good morning and welcome to the Brady Corporation fiscal 2023 fourth quarter earnings conference call. The slides for this morning's call are located on our website at www.bradycorp.com/investors. We will begin our prepared remarks on slide number three.
Please note that during this call, we may make comments about forward-looking information. Words such as expect, will, may, believe, forecast and anticipate are just a few examples of words identifying a forward-looking statement.
It’s important to note that forward-looking information is subject to various risk factors and uncertainties, which could significantly impact expected results. Risk factors were noted in our news release this morning and in Brady’s fiscal 2022 Form 10-K, which was filed with the SEC this morning.
Also, please note that this teleconference is copyrighted by Brady Corporation and may not be rebroadcast without the consent of Brady. We will be recording this call and broadcasting it on the Internet. As such, your participation in the Q&A session will constitute your consent to being recorded.
I’ll now turn the call over to Brady’s President and Chief Executive Officer, Russell Shaller. Russell?
Russell Shaller
Thank you, Ann, and thank you for joining us today. We released our fiscal 2023 fourth quarter results this morning, which represented another company record earnings per share result. Our organic sales growth grew 6.9% this quarter due to strong results throughout our global business. We increased our GAAP earnings per share to 23.5% and we grew our non-GAAP earnings per share by 19.5%. This quarter represented an excellent finish to another great year.
Our full-year 2023 GAAP EPS of $3.51 was another all-time record high following two consecutive years of all-time record EPS. Our non-GAAP EPS of $3.64 was also an all-time record high. This year, we grew organic sales 5.5% with growth driven by both regions throughout all of our major businesses and we returned $120 million to our shareholders through dividends and share buybacks, while still finishing the year in a net cash position.