Brady Corp. stock rises after earnings and outlook beat expectations

Brady Corp.
BRC,
+11.42%
stock was up 6.3% in premarket trades Tuesday after the Milwaukee-based industrial company’s adjusted fourth-quarter earnings of $1.04 a share beat the FactSet consensus target of 93 cents a share. The company, which sells identification and workplace safety products, said it expects adjusted 2024 earnings of $3.85 to $4.10 a share, ahead of the analyst forecast of $3.84 a share. Brady Corp. has also OK’d a $100 million stock buyback program. Prior to Tuesday’s gains, Brady Corp. stock has risen 7.9% in 2023, compared to a 34.1% gain by the Nasdaq
COMP,
-0.08%.