Brady Corporation (NYSE:BRC) Q2 2024 Earnings Conference Call February 22, 2024 10:30 AM ET

Company Participants

Ann Thornton - Chief Financial Officer & Treasurer

Russell Shaller - President & Chief Executive Officer

Conference Call Participants

Steve Ferazani - Sidoti

Keith Housum - Northcoast Research

Operator

Good day and thank you for standing by. Welcome to Brady Corporation's Second Quarter 2024 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] As a reminder, this conference is being recorded.

I would now like to turn the conference over to Ann Thornton CFO and Treasurer of Brady Corporation. Please go ahead.

Ann Thornton

Thank you. Good morning and welcome to the Brady Corporation fiscal 2024 second 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 3.

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 forward-looking statements. 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 2023 Form 10-K, which was filed with the SEC in September. 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

Thanks Ann and thank you all for joining us today. We released our 2024 second quarter financial results this morning and I'm pleased to report another quarter of organic sales growth and improved profit.

This quarter we increased our gross profit margin to 50.2%. We improved our pre-tax earnings by 15.1% and we grew our non-GAAP earnings per share by 14.8%. These results wouldn't be possible without the hard work and dedication of our entire global team.

I'm incredibly proud of the effort the team has put in to ensure the success of our regional reorganization, which became effective at this time last year. The progress we've made and the opportunities we've identified continue to excite motivate me every single day. It has absolutely contributed to our improved earnings and cash flow.