Thursday, 26 Dec 2024

Herald morning quiz: February 18

‘Uncharted’ Review: Steal, Fight, Repeat

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By Manohla Dargis

Brady Corp Q2 Net Rises, Revenue Beats

Brady Corporation (BRC), a world leader in identification solutions, on Thursday reported its financial results for its fiscal 2022 second quarter ended January 31, 2022 that showed a rise in net income and earnings in line with expectations. Revenue surpassed estimates.

Net Income for the period was $33.8 million or $0.65 per share as compared to $30.9 million or $0.59 per share in the previous period.

Net Income excluding items for the period was $36.7 million or $0.70 per share as compared to $31.9 million or $0.61 per share in the previous period. 4 analysts polled by Thomson Reuters were expecting the company to report earnings of $0.70 per share. Analysts typically exclude one-time items.

Revenue for the period was $318.1 million as compared to $265.84 million in the previous period. 4 analysts polled by Thomson Reuters were expecting the company to report revenues of $304.64 million. Sales for the quarter increased 19.6 percent, which consisted of an organic sales increase of 13.1 percent, an increase of 8.6 percent from acquisitions and a decrease of 2.1 percent from foreign currency translation.

Operating income increased to $42.9 million, from $ 37.4 million in the year-ago period.

For the full year, the company adjusted its earnings outlook to a range of $3.00 to $3.15 per share, excluding special items.

Shares of Brady Corp are trading in pre-market at $50.25, down $ 0.01 or 0.02 percent.

Pool Corp. Q4 Net Income Rises; Net Sales Up 23%

Pool Corp. (POOL) reported that its fourth quarter net income increased to $107.6 million from $59.2 million, prior year. Earnings per share was $2.65 compared to $1.45. Without the impact from ASU 2016-09 in both periods, earnings per share increased 77% to $2.30 compared to $1.30.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.87, for the quarter. Analysts’ estimates typically exclude special items.

Net sales increased to $1.04 billion from $839.26 million, last year. Analysts on average had estimated $958.64 million in revenue.

The company projects earnings for 2022, including benefits from recent acquisitions, to be in the range of $17.19 to $17.94 per share. Adjusted EPS is expected in a range of $17.00 to $17.75. Analysts expect the company to report profit per share of $16.89.

Average UK house price increased by £27k to a record high of £275k at end of 2021

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Across the UK generally, the year to December saw an increase of 10.8 percent, accelerating from 10.7 percent in November.

Mike Hardie, ONS head of inflation, said: “House prices in the UK, England and Wales all reached record levels this month. UK rental prices accelerated at their fastest since 2017, with increases across every region in England.”

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Nitesh Patel, strategic economist at Yorkshire Building Society, said: “A key challenge in the current housing market is the lack of supply of homes for sale, while demand continues to remain strong – which perhaps explains the strong price performance in southern England.”

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Genuine Parts Projects Revenue Growth Of 9%-11% In FY22 – Quick Facts

Genuine Parts Company (GPC) said, for fiscal 2022, the company projects: revenue growth of 9% to 11%; and earnings per share of $7.45 to $7.60. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.35. Analysts’ estimates typically exclude special items.

“Looking ahead, we remain confident in our plans for accelerated growth and profitability as we build on the underlying momentum in our automotive and industrial operations and begin to realize the benefits from our recent industrial acquisition of Kaman Distribution Group,” said Paul Donahue, CEO.

Fourth quarter earnings was $256.00 million, or $1.79 per share compared to $171.20 million, or $1.18 per share, a year ago. Excluding items, Genuine Parts reported adjusted earnings of $256.22 million or $1.79 per share for the period. Analysts on average had expected the company to earn $1.60 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items. Revenue rose 12.9% to $4.80 billion from $4.25 billion last year.

The company ended the quarter and year with $2.2 billion in total liquidity, consisting of $1.5 billion availability on the revolving credit facility and $714.7 million in cash and cash equivalents.

Herald morning quiz: February 18

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