Brady Corporation (NYSE:BRC) Q4 2022 Earnings Conference Call September 1, 2022 10:30 AM ET

Corporate Participants

Ann Thornton - Chief Accounting Officer

Russell Shaller - Chief Executive Officer

Aaron Pearce - Chief Financial Officer

Conference Call Participants

Cashen Keeler - Bank of America

Keith Housum - North Coast Research

Steve Ferazani - Sidoti

Operator

Good day and thank you for standing by. Welcome to Q4 2022 Brady Corporation 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. Please go ahead.

Ann Thornton

Thank you. Good morning, and welcome to the Brady Corporation fiscal '22 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 and which could significantly impact expected results. Risk factors were noted in our news release and in Brady's fiscal '22 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. Good morning, everyone and thank you for joining us.

This morning we released our fiscal 2022 fourth quarter financial results, which was another quarter of strong organic sales growth and record earnings per share. I'm proud of how the entire Brady team worked through this challenging macro environment all the while delivering for both our customers and our shareholders.

Organic sales grew 9% this quarter, we increased GAAP earnings per share by 53% and we increased the non-GAAP earnings per share by 16%. This quarter was a great end to an outstanding year. Our full year GAAP EPS of 290 was an all-time record high and our non-GAAP EPS of 3.15 was also an all-time record high.