Brady Corp【BRC】株式ニュース

HONEYWELL TO SELL PRODUCTIVITY SOLUTIONS AND SERVICES BUSINESS TO BRADY CORPORATIONApril 20, 2026 7:00 AM
PR Newswire (US)

Accelerates portfolio simplification as Honeywell prepares for the planned spin-off of its Aerospace business, on track for Q3 2026CHARLOTTE, N.C., April 20, 2026 /PRNewswire/ -- Honeywell (Nasdaq: HON) today announced that it has agreed to sell its Productivity Solutions and Services ("PSS") business to Brady Corporation, an international manufacturer of identification and protection solutions, for $1.4 billion in an all-cash transaction. The transaction is expected to be completed in the second half of 2026 and is subject to regulatory approvals and customary closing conditions.

The transaction follows the review of strategic alternatives Honeywell commenced in July 2025 for PSS and its Warehouse and Workflow Solutions ("WWS") business to further simplify the company's portfolio alongside the planned spin-off of its Aerospace business, which is expected to be complete in the third quarter of 2026. Honeywell remains actively engaged in its assessment of strategic alternatives for WWS, which operates commercially under the brand names Intelligrated and Transnorm."With the PSS divestiture, we are nearing completion of our multi-year portfolio transformation, further accelerating value creation as we prepare to separate our Aerospace and Automation businesses into two independent industry leading public companies. The sale also enables us to continue strengthening our financial and operational focus on the company's core businesses," said Vimal Kapur, Chairman and CEO of Honeywell."Going forward, PSS will benefit from Brady's highly complementary and specialized leadership in industrial identification and safety, creating a broader, more integrated offering for warehouse, logistics and manufacturing customers," Kapur added.With 2025 revenue of approximately $1.1 billion, PSS is a leading provider of mobile computers, barcode scanners and printing solutions serving the warehouse and logistics market. PSS is currently part of Honeywell's Industrial Automation (IA) business portfolio.Brady Corporation (NYSE: BRC) is an international manufacturer and marketer of high-performance labels, signs, safety devices and printing systems for industries that include electronics, manufacturing and aerospace. Brady provides products that enhance safety, security and productivity. The acquisition of PSS will help build Brady's capabilities in data capture, mobile computing and workflow automation, increasing its portfolio serving industrial and logistics customers, while creating a more integrated, end-to-end productivity and safety platform.This announcement follows the divestiture of Honeywell's Personal Protective Equipment (PPE) business in 2024 and the spin-off of its Advanced Materials business as Solstice Advanced Materials (Nasdaq: SOLS) in October 2025. It also builds on the prior strategic actions Honeywell has taken to drive organic growth and optimize its portfolio, including announcing approximately $14 billion of accretive and synergistic acquisitions since 2023: Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Li-ion Tamer and Johnson Matthey's Catalyst Technologies Business.Centerview Partners is serving as financial advisor to Honeywell. Kirkland & Ellis LLP, Baker McKenzie and Womble Bond Dickinson are providing external legal counsel.About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world, with a portfolio that is underpinned by our Honeywell Accelerator operating system and Honeywell Forge platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations for aerospace, building automation, industrial automation, process automation, and process technology that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.Forward Looking Statement
We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including statements related to the proposed separation of Honeywell from Honeywell Aerospace and the planned sale of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. Forward-looking statements are those that address activities, events, or developments that we or our management intend, expect, project, believe, or anticipate will or may occur in the future. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control, including Honeywell's current expectations, estimates, and projections regarding the proposed separation of Honeywell from Honeywell Aerospace and the planned sale of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements, including the proposed separation of Honeywell from Honeywell Aerospace and the planned sale of the Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, and the anticipated benefits of each. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, including ongoing conflicts in the Middle East, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.Contacts:
Media Investor RelationsStacey Jones Mark Macaluso(980) 378-6258 (704) 627-6118Stacey.Jones@honeywell.com mark.macaluso@honeywell.com

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Original: HONEYWELL TO SELL PRODUCTIVITY SOLUTIONS AND SERVICES BUSINESS TO BRADY CORPORATION

Brady Corporation Reports Fiscal 2015 Second Quarter Results

Last update: 19/02/2015 8:00:01 am

-- Second quarter organic revenue growth of 1.4 percent, with 1.9 percent
organic growth in Identification Solutions and 0.6 percent organic growth
in Workplace Safety.

-- Non-GAAP earnings from continuing operations* growth of 12.5 percent to
$15.0 million during the quarter ended January 31, 2015 compared to $13.4
million in the second quarter of last year.

-- Non-GAAP earnings from continuing operations per diluted Class A
Nonvoting Common Share* growth of 16.0 percent to $0.29 during the
quarter ended January 31, 2015 compared to $0.25 in the same quarter of
the prior year. The current quarter was positively impacted by a lower
income tax rate due to the extension of certain U.S. tax provisions that
were passed by Congress in late December.
MILWAUKEE--(BUSINESS WIRE)--February 19, 2015--

Brady Corporation (NYSE: BRC) ("Brady" or "Company"), a world leader in identification solutions, today reported its financial results for its fiscal 2015 second quarter ended January 31, 2015.

Quarter Ended January 31, 2015 Financial Results:

Sales for the quarter ended January 31, 2015 decreased 2.9 percent to $282.6 million compared to $291.2 million in the second quarter of fiscal 2014. Total organic sales increased 1.4 percent and foreign currency translation decreased sales by 4.3 percent. By segment, organic sales increased 1.9 percent in Identification Solutions and 0.6 percent in Workplace Safety.

Earnings from continuing operations for the quarter ended January 31, 2015 were $11.6 million compared to $10.5 million in the prior year quarter. Non-GAAP net earnings from continuing operations* for the current quarter were $15.0 million compared to $13.4 million in the same quarter last year.

Net earnings from continuing operations per Class A Nonvoting Common Share were $0.23 for the quarter ended January 31, 2015 compared to $0.20 in the same quarter last year. Non-GAAP earnings from continuing operations per diluted Class A Nonvoting Common Share* were $0.29 in the second quarter of fiscal 2015 compared to $0.25 per share in the second quarter of fiscal 2014.

Six-Month Period Ended January 31, 2015 Financial Results:

Sales for the six-month period ended January 31, 2015 decreased 1.0 percent to $592.9 million compared to $598.7 million in the same period in fiscal 2014. Organic sales increased 1.9 percent and the impact of foreign currency translation decreased sales by 2.9 percent. By segment, organic sales increased 2.1 percent in Identification Solutions and 1.5 percent in Workplace Safety.

Earnings from continuing operations for the six-month period ended January 31, 2015 were $27.1 million compared to $28.7 million in the same period in fiscal 2014. Non-GAAP net earnings from continuing operations* for the six-month period were $33.5 million compared to $36.2 million in the same period in fiscal 2014.

Net earnings from continuing operations per Class A Nonvoting Common share were $0.53 for the six-month period ended January 31, 2015 compared to $0.55 in the same period in fiscal 2014. Non-GAAP earnings from continuing operations per diluted Class A Common Share* were $0.65 in the six-month period ended January 31, 2015 compared to $0.69 in the same period in fiscal 2014.

Commentary:

"This marks the fourth consecutive quarter of organic sales growth for Brady Corporation and the third consecutive quarter of organic sales growth in our Workplace Safety business. Our gross profit margin is also stabilizing as we near completion of our facility consolidation activities. Our gross profit margin finished at 48.9 percent, which is a 50 basis point improvement over the first quarter of fiscal 2015," said Brady President and Chief Executive Officer, J. Michael Nauman. "Although our profitability was impacted by costs related to the consolidation of our manufacturing facilities, the level of incremental costs is moderating and we expect completion of these activities by the end of fiscal 2015. We are focused on executing business fundamentals to drive organic sales growth and improve profitability while investing in research and development and sales resources in selected industries, as well as building an enhanced, scalable digital platform that will generate value for Brady and its customers."

"Along with our stabilizing gross profit margins, we are also seeing benefits from our focus on controlling selling, general, and administrative expenses, which should aid in continuing our trend of improving financial results," said Brady's Chief Financial Officer, Aaron Pearce. "As we look to the second half of fiscal 2015, we also anticipate free cash flow to improve as we systematically reduce our inventory levels, moderate our capital expenditures and increase profitability."

Fiscal 2015 Guidance:

The Company anticipates low single-digit organic sales growth in fiscal 2015, with organic sales growth in both the Identification Solutions and Workplace Safety platforms. Brady also expects a full-year income tax rate in the mid-to-upper 20 percent range, approximately $15 million of restructuring charges, $40 million of depreciation and amortization expense and capital expenditures of approximately $35 million in fiscal 2015.

Earnings from continuing operations per diluted Class A Nonvoting Common Share, exclusive of restructuring charges and other non-routine charges guidance remains unchanged at $1.50 to $1.70. However, due to the strengthening of the US dollar against other major currencies, the Company anticipates that its full-year fiscal 2015 results will finish at the low end of this range. This guidance is based on current exchange rates.

A webcast regarding Brady's fiscal 2015 second quarter financial results will be available at www.bradycorp.com beginning at 9:30 a.m. Central Time today.

Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places. Brady's products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. Founded in 1914, the Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady is headquartered in Milwaukee, Wisconsin and as of August 1, 2014, employed approximately 6,400 people in its worldwide businesses. Brady's fiscal 2014 sales were approximately $1.23 billion. Brady stock trades on the New York Stock Exchange under the symbol BRC. More information is available on the Internet at www.bradycorp.com.

* See accompanying notes for Non-GAAP measures.

In this news release, statements that are not reported financial results or other historic information are "forward-looking statements." These forward-looking statements relate to, among other things, the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations.

The use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "project" or "plan" or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements by their nature address matters that are, to different degrees, uncertain and are subject to risks, assumptions, and other factors, some of which are beyond Brady's control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For Brady, uncertainties arise from: implementation of the healthcare strategy; implementation of the Workplace Safety strategy; future competition; risks associated with restructuring plans; future financial performance of major markets Brady serves, which include, without limitation, telecommunications, hard disk drive, manufacturing, electrical, construction, laboratory, education, governmental, public utility, computer, healthcare and transportation; technology changes and potential security violations to the Company's information technology system; fluctuations in currency rates versus the U.S. dollar; risks associated with international operations; difficulties associated with exports; Brady's ability to develop and successfully market new products; risks associated with identifying, completing, and integrating acquisitions; changes in the supply of, or price for, parts and components; increased price pressure from suppliers and customers; Brady's ability to retain significant contracts and customers; risk associated with loss of key talent; risks associated with divestitures and businesses held for sale; risks associated with obtaining governmental approvals and maintaining regulatory compliance; risk associated with product liability claims; environmental, health and safety compliance costs and liabilities; potential write-offs of Brady's substantial intangible assets; risks associated with our ownership structure; unforeseen tax consequences; Brady's ability to maintain compliance with its debt covenants; increase in our level of debt; and numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive, and regulatory nature contained from time to time in Brady's U.S. Securities and Exchange Commission filings, including, but not limited to, those factors listed in the "Risk Factors" section within Item 1A of Part I of Brady's Form 10-K for the year ended July 31, 2014.

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February 19, 2015 08:00 ET (13:00 GMT)