MSA Safety Announces Third Quarter 2024 Results

Rhea-AI Summary

MSA Safety reported Q3 2024 financial results with net sales of $433 million, representing a 3% year-over-year decrease. The company achieved GAAP operating income of $91 million (21.1% of sales) and adjusted operating income of $98 million (22.6% of sales). GAAP net income was $67 million ($1.69 per diluted share), while adjusted earnings were $72 million ($1.83 per diluted share). Despite sales contraction due to SCBA shipment timing and customer order delays, orders grew by high-single digits. The company expects mid-single-digit sales growth in Q4 2024, resulting in low-single-digit full-year growth.

Positive

• High-single-digit order growth and sequential backlog increase
• Double-digit sales growth in portable detection business
• Strong cash conversion and healthy balance sheet with 0.9x net leverage
• 2% increase in net income to $67 million
• 3% growth in adjusted earnings to $72 million

Negative

• 3% decrease in quarterly net sales to $433 million
• 3% decline in operating income to $91 million
• Sales contraction due to SCBA shipment timing and customer delays

Insights

Financial Analyst

MSA Safety delivered a mixed Q3 2024 performance with some concerning trends but maintained profitability. Net sales declined 3% to $433 million, impacted by SCBA shipment timing and order delays. However, order growth of high-single digits and increased backlog provide optimism for future quarters.

Key positives include resilient margins with adjusted operating margin at 22.6%, strong cash conversion and healthy balance sheet with net leverage of 0.9x. The detection business showed strength with double-digit growth in portables. Management expects mid-single-digit Q4 growth leading to low-single-digit full-year growth.

Concerning areas include the 9% decline in Fire Service segment and 15% drop in Americas Fire Service revenue. The company maintained shareholder returns through $20 million in dividends and $10 million in share repurchases while reducing debt by $38 million.

Strong execution drives resilient margins and EPS growth; Expecting mid-single-digit fourth quarter sales growth, resulting in low-single-digit full-year growth.

PITTSBURGH, Oct. 23, 2024 /PRNewswire/ -- Global safety equipment and solutions provider MSA Safety Incorporated (NYSE: MSA) today reported financial results for the third quarter of 2024.

Quarterly Highlights

• Achieved quarterly net sales of $433 million, a 3% year-over-year decrease on a reported and organic constant currency basis.
  
  
• Generated GAAP operating income of $91 million, or 21.1% of sales, and adjusted operating income of $98 million, or 22.6% of sales.
  
  
• Recorded GAAP net income of $67 million, or $1.69 per diluted share, and adjusted earnings of $72 million, or $1.83 per diluted share.
  
  
• Repaid $38 million of debt, returned $20 million to shareholders through dividends, invested $14 million for capital expenditures, and repurchased $10 million of common stock.

"Our team continued to execute well in the third quarter, delivering earnings growth despite a modest sales contraction," said Steve Blanco, MSA Safety President and Chief Executive Officer. "Revenue was impacted by the timing of self-contained breathing apparatus (SCBA) shipments as well as specific customer order delays. That said, we still grew orders by high-single digits in the quarter, and our backlog increased sequentially. We continued to see excellent performance in our detection business, including double-digit sales growth in portables. We remain confident that the overall resilience of our business, the strength of our long-term fundamentals, and our team's embrace of the MSA Business System will enable us to continue advancing our mission and creating value for our shareholders."

Financial Highlights

Financial Highlights		Three Months Ended September 30,
($ millions, except percentages and per share amounts)		2024		2023		% Change(a)
Net Sales		$                 433		$                 447		(3) %
Operating Income		91		94		(3) %
Adjusted Operating Income		98		101		(3) %
Net Income		67		65		2 %
Diluted EPS		1.69		1.65		2 %
Adjusted Earnings		72		70		3 %
Adjusted Diluted EPS		1.83		1.78		3 %
(a) Percentage change may not calculate exactly due to rounding.

Lee McChesney, MSA Safety Senior Vice President and Chief Financial Officer, commented, "We delivered resilient margin performance and strong cash conversion in the quarter. Our balance sheet remains healthy, with net leverage of 0.9 times. We returned cash to shareholders as part of our disciplined and balanced capital allocation strategy, and we remain well-positioned to invest organically in the business and evaluate M&A opportunities. As we look ahead to the balance of the year, we expect to finish 2024 strong with mid-single-digit sales growth in the fourth quarter, resulting in low-single-digit top-line growth for the full year."

Conference Call

MSA Safety will host a conference call on Thursday, October 24, 2024, at 10:00 a.m. Eastern time to discuss its third quarter 2024 results and outlook. The call and an accompanying slide presentation will be webcast at http://investors.msasafety.com/ under the "News and Events" tab, subheading "Events & Presentations." Investors and interested parties can also dial into the call at 1-844-854-4415 (toll-free) or 1-412-902-6599 (international). When prompted, please instruct the operator to be joined into the MSA Safety Incorporated conference call. A replay of the conference call will be available at http://investors.msasafety.com/ shortly after the conclusion of the presentation and will be available for the next 90 days.

MSA Safety Incorporated Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net sales	$    432,679		$    446,728		$ 1,308,443		$ 1,292,290
Cost of products sold	225,223		227,967		682,427		678,335
Gross profit	207,456		218,761		626,016		613,955
Selling, general and administrative	95,103		102,175		294,329		289,602
Research and development	16,707		17,682		49,695		48,906
Restructuring charges	1,184		3,285		5,744		8,382
Currency exchange losses, net	2,985		1,496		4,715		8,781
Loss on divestiture of MSA LLC	—		—		—		129,211
Product liability expense	—		—		—		3
Operating income	91,477		94,123		271,533		129,070
Interest expense	9,153		12,498		29,556		37,149
Other income, net	(5,833)		(6,037)		(16,215)		(15,487)
Total other expense, net	3,320		6,461		13,341		21,662
Income before income taxes	88,157		87,662		258,192		107,408
Provision for income taxes	21,509		22,406		61,171		125,235
Net income (loss)	$      66,648		$      65,256		$    197,021		$    (17,827)
Earnings (loss) per share attributable to common shareholders:
Basic	$          1.69		$          1.66		$          5.00		$        (0.46)
Diluted	$          1.69		$          1.65		$          4.98		$        (0.46)
Basic shares outstanding	39,362		39,303		39,370		39,267
Diluted shares outstanding	39,495		39,450		39,530		39,267

 

MSA Safety Incorporated Condensed Consolidated Balance Sheets (Unaudited) (In thousands)
	September 30, 2024		December 31, 2023
Assets
Cash and cash equivalents	$                        154,371		$                        146,442
Trade receivables, net	277,346		294,678
Inventories	351,805		292,604
Other current assets	59,147		52,546
Total current assets	842,669		786,270
Property, plant and equipment, net	216,646		211,877
Prepaid pension cost	183,915		172,161
Goodwill	632,837		627,534
Intangible assets, net	254,364		266,134
Other noncurrent assets	111,496		106,174
Total assets	$                     2,241,927		$                     2,170,150
Liabilities and shareholders' equity
Notes payable and current portion of long-term debt, net	$                          26,915		$                          26,522
Accounts payable	128,031		111,872
Other current liabilities	159,532		194,424
Total current liabilities	314,478		332,818
Long-term debt, net	527,807		575,170
Pensions and other employee benefits	144,105		143,967
Deferred tax liabilities	103,175		102,419
Other noncurrent liabilities	57,017		48,974
Total shareholders' equity	1,095,345		966,802
Total liabilities and shareholders' equity	$                     2,241,927		$                     2,170,150

 

MSA Safety Incorporated Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net income (loss)	$     66,648		$     65,256		$   197,021		$   (17,827)
Depreciation and amortization	15,959		15,504		47,563		44,965
Tax-effected loss on divestiture of MSA LLC	—		—		—		199,578
Contribution on divestiture of MSA LLC	—		—		—		(341,186)
Change in working capital and other operating	1,725		44,024		(56,064)		48,413
Cash flow from (used in) operating activities	84,332		124,784		188,520		(66,057)
Capital expenditures	(14,254)		(12,657)		(39,814)		(30,979)
Property disposals and other investing	16		16		90		2,690
Cash flow used in investing activities	(14,238)		(12,641)		(39,724)		(28,289)
Change in debt	(37,743)		(68,250)		(51,003)		168,648
Cash dividends paid	(20,081)		(18,485)		(58,670)		(54,999)
Company stock purchases under repurchase program	(10,027)		—		(20,027)		—
Other financing	(603)		653		(6,472)		(3,142)
Cash flow (used in) from financing activities	(68,454)		(86,082)		(136,172)		110,507
Effect of exchange rate changes on cash, cash equivalents and restricted cash	4,495		(8,501)		(6,062)		(14,152)
Increase in cash, cash equivalents and restricted cash	$       6,135		$     17,560		$       6,562		$       2,009

 

MSA Safety Incorporated Segment Information (Unaudited) (In thousands, except percentages)
	Americas		International		Corporate		Consolidated
Three Months Ended September 30, 2024
Net sales to external customers	$ 299,497		$ 133,182		$              —		$   432,679
Operating income							91,477
Operating margin %							21.1 %
Restructuring charges							1,184
Currency exchange losses, net							2,985
Amortization of acquisition-related intangible assets							2,269
Adjusted operating income (loss)	91,822		18,174		(12,081)		97,915
Adjusted operating margin %	30.7 %		13.6 %				22.6 %
Depreciation and amortization							13,690
Adjusted EBITDA	101,339		22,119		(11,853)		111,605
Adjusted EBITDA margin %	33.8 %		16.6 %				25.8 %
Three Months Ended September 30, 2023
Net sales to external customers	$ 314,273		$ 132,455		$              —		$   446,728
Operating income							94,123
Operating margin %							21.1 %
Restructuring charges							3,285
Currency exchange losses, net							1,496
Amortization of acquisition-related intangible assets							2,315
Transaction costs (a)							78
Adjusted operating income (loss)	93,918		22,577		(15,198)		101,297
Adjusted operating margin %	29.9 %		17.0 %				22.7 %
Depreciation and amortization							13,189
Adjusted EBITDA	103,157		26,289		(14,960)		114,486
Adjusted EBITDA margin %	32.8 %		19.8 %				25.6 %

(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

 

MSA Safety Incorporated Segment Information (Unaudited) (In thousands, except percentages)
	Americas		International		Corporate		Consolidated
Nine Months Ended September 30, 2024
Net sales to external customers	$ 909,745		$ 398,698		$              —		$  1,308,443
Operating income							271,533
Operating margin %							20.8 %
Restructuring charges							5,744
Currency exchange losses, net							4,715
Net cost for product related legal matter							5,000
Amortization of acquisition-related intangible assets							6,888
Transaction costs (a)							234
Adjusted operating income (loss)	276,523		55,944		(38,353)		294,114
Adjusted operating margin %	30.4 %		14.0 %				22.5 %
Depreciation and amortization							40,675
Adjusted EBITDA	305,275		67,216		(37,702)		334,789
Adjusted EBITDA margin %	33.6 %		16.9 %				25.6 %
Nine Months Ended September 30, 2023
Net sales to external customers	$ 902,918		$ 389,372		$              —		$  1,292,290
Operating income							129,070
Operating margin %							10.0 %
Restructuring charges							8,382
Currency exchange losses, net							8,781
Loss on divestiture of MSA LLC							129,211
Product liability expense							3
Amortization of acquisition-related intangible assets							6,936
Transaction costs (a)							78
Adjusted operating income (loss)	260,428		60,099		(38,066)		282,461
Adjusted operating margin %	28.8 %		15.4 %				21.9 %
Depreciation and amortization							38,029
Adjusted EBITDA	287,628		70,296		(37,434)		320,490
Adjusted EBITDA margin %	31.9 %		18.1 %				24.8 %

(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

The Americas segment is comprised of our operations in Northern North American and Latin American geographies. The International segment is comprised of our operations in all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived.

Adjusted operating income (loss), adjusted operating margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA margin are the measures used by the chief operating decision maker to evaluate segment performance and allocate resources. As such, management believes that adjusted operating income (loss), adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin are useful metrics for investors. Adjusted operating income (loss) is defined as operating income excluding restructuring charges, currency exchange (gains) losses, loss on divestiture of MSA LLC, product liability expense, amortization of acquisition-related intangible assets, net cost for product related legal matter and transaction costs. Adjusted operating margin is defined as adjusted operating income (loss) divided by segment net sales to external customers. Adjusted EBITDA is defined as adjusted operating income (loss) plus depreciation and amortization, and adjusted EBITDA margin is defined as adjusted EBITDA divided by segment net sales to external customers. Adjusted operating income (loss), adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin are not recognized terms under GAAP, and therefore do not purport to be alternatives to operating income or operating margin as a measure of operating performance. The company's definition of adjusted operating income (loss), adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin may not be comparable to similarly titled measures of other companies. As such, management believes that it is appropriate to consider operating income determined on a GAAP basis in addition to these non-GAAP measures.

MSA Safety Incorporated Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Organic constant currency sales change (Unaudited)
Consolidated
	Three Months Ended September 30, 2024
	Fire Service(a)	Detection(b)	Industrial PPE and Other(c)		Net Sales
GAAP reported sales change	(9) %	5 %	(5) %		(3) %
Plus: Currency translation effects	— %	— %	1 %		— %
Organic constant currency sales change	(9) %	5 %	(4) %		(3) %
	Nine Months Ended September 30, 2024
	Fire Service(a)	Detection(b)	Industrial PPE and Other(c)		Net Sales
GAAP reported sales change	3 %	3 %	(3) %		1 %
Plus: Currency translation effects	— %	— %	— %		— %
Organic constant currency sales change	3 %	3 %	(3) %		1 %

(a) Fire Service includes Breathing Apparatus and Firefighter Helmets and Protective Apparel.

(b) Detection includes Fixed Gas and Flame Detection and Portable Gas Detection.

(c) Industrial PPE and Other includes Industrial Head Protection, Fall Protection and Non-Core.

Management believes that organic constant currency sales change is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Organic constant currency sales change highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of organic constant currency sales change is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.

MSA Safety Incorporated Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Organic constant currency sales change (Unaudited)
Americas Segment
	Three Months Ended September 30, 2024
	Fire Service(a)	Detection(b)	Industrial PPE and Other(c)		Net Sales
GAAP reported sales change	(15) %	5 %	(1) %		(5) %
Plus: Currency translation effects	— %	1 %	4 %		2 %
Organic constant currency sales change	(15) %	6 %	3 %		(3) %
	Nine Months Ended September 30, 2024
	Fire Service(a)	Detection(b)	Industrial PPE and Other(c)		Net Sales
GAAP reported sales change	(1) %	3 %	— %		1 %
Plus: Currency translation effects	— %	— %	1 %		— %
Organic constant currency sales change	(1) %	3 %	1 %		1 %
International Segment
	Three Months Ended September 30, 2024
	Fire Service(a)	Detection(b)	Industrial PPE and Other(c)		Net Sales
GAAP reported sales change	10 %	4 %	(15) %		1 %
Plus: Currency translation effects	(2) %	(1) %	(1) %		(2) %
Organic constant currency sales change	8 %	3 %	(16) %		(1) %
	Nine Months Ended September 30, 2024
	Fire Service(a)	Detection(b)	Industrial PPE and Other(c)		Net Sales
GAAP reported sales change	13 %	2 %	(10) %		2 %
Plus: Currency translation effects	— %	— %	— %		— %
Organic constant currency sales change	13 %	2 %	(10) %		2 %

(a) Fire Service includes Breathing Apparatus and Firefighter Helmets and Protective Apparel.

(b) Detection includes Fixed Gas and Flame Detection and Portable Gas Detection.

(c) Industrial PPE and Other includes Industrial Head Protection, Fall Protection and Non-Core.

Management believes that organic constant currency sales growth is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Organic constant currency sales growth highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of organic constant currency sales growth is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.

MSA Safety Incorporated Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Adjusted earnings (Unaudited) Adjusted diluted earnings per share (Unaudited) (In thousands, except per share amounts and percentages)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2024		2023		% Change		2024		2023		% Change
Net income (loss)	$     66,648		$     65,256		2 %		$   197,021		$   (17,827)		n/m*
Currency exchange losses, net	2,985		1,496				4,715		8,781
Amortization of acquisition-related intangible assets	2,269		2,315				6,888		6,936
Restructuring charges	1,184		3,285				5,744		8,382
Asset related losses (gains)	207		42				959		(671)
Net cost for product related legal matter	—		—				5,000		—
Pension settlement	—		—				1,308		—
Transaction costs (a)	—		78				234		78
Loss on divestiture of MSA LLC	—		—				—		129,211
Deferred tax asset write-off related to divestiture of MSA LLC	—		—				—		70,366
Product liability expense	—		—				—		3
Income tax expense on adjustments	(995)		(2,327)				(6,412)		(9,248)
Adjusted earnings	$     72,298		$     70,145		3 %		$   215,457		$   196,011		10 %
Adjusted diluted earnings per share	$         1.83		$         1.78		3 %		$         5.45		$         4.97		10 %

(a)Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

* Not meaningful

Management believes that adjusted earnings and adjusted diluted earnings per share are useful measures for investors, as management uses these measures to internally assess the company's performance and ongoing operating trends. There can be no assurances that additional special items will not occur in future periods, nor that MSA's definition of adjusted earnings is consistent with that of other companies. As such, management believes that it is appropriate to consider both net income (loss) determined on a GAAP basis as well as adjusted earnings.

MSA Safety Incorporated Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures Debt to adjusted EBITDA / Net debt to adjusted EBITDA (Unaudited) (In thousands)
		Twelve Months Ended September 30, 2024
Operating income		$                         373,783
Depreciation and amortization		54,173
Currency exchange losses, net		13,013
Amortization of acquisition-related intangible assets		9,198
Restructuring charges		7,254
Net cost for product related legal matter		5,000
Transaction costs (a)		1,121
Adjusted EBITDA		$                         463,542
Total end-of-period debt		554,722
Debt to adjusted EBITDA		1.2
Total end-of-period debt		$                         554,722
Total end-of-period cash and cash equivalents		154,371
Net debt		$                         400,351
Net debt to adjusted EBITDA		0.9

(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

Management believes that Debt to adjusted EBITDA and Net debt to adjusted EBITDA are useful measures for investors, as management uses these measures to internally assess the company's liquidity and balance sheet strength. There can be no assurances that that MSA's definition of Debt to adjusted EBITDA and Net debt to adjusted EBITDA is consistent with that of other companies.

About MSA Safety:  

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced safety products, technologies and solutions. Driven by its singular mission of safety, the Company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2023 revenues of  $1.8 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania and employs a team of over 5,000 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

Cautionary Statement Regarding Forward-Looking Statements:

Except for historical information, certain matters discussed in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance and involve various assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or other comparable words. Actual results, performance or outcomes may differ materially from those expressed or implied by these forward-looking statements and may not align with historical performance and events due to a number of factors, including those discussed in the sections of our annual report on Form 10-K entitled "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors," and those discussed in our Form 10-Q quarterly reports filed after such annual report. MSA's SEC filings are readily obtainable at no charge at www.sec.gov, as well as on its own investor relations website at http://investors.MSAsafety.com. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and caution should be exercised against placing undue reliance upon such statements, which are based only on information currently available to us and speak only as of the date hereof. We are under no duty to update publicly any of the forward-looking statements after the date of this earnings press release, whether as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures:
This press release includes certain non-GAAP financial measures. These financial measures include organic constant currency revenue growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted earnings, adjusted earnings per diluted share, debt to adjusted EBITDA, and net debt to adjusted EBITDA. These metrics are consistent with how the Company's chief operating decision maker ("CODM") evaluates segment results and makes strategic decisions about the business.  Additionally, these non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management also uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use, and computational methods with respect thereto, may differ from the non-GAAP financial measures and key performance indicators, and computational methods, that our peers use to assess their performance and trends.

The presentation of these non-GAAP financial measures does not comply with U.S. GAAP. These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP. When non-GAAP financial measures are disclosed, the Securities and Exchange Commission's Regulation G requires: (i) the presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. The presentation of these financial measures does not comply with U.S. generally accepted accounting principles ("GAAP"). For an explanation of these measures, with a reconciliation to the most directly comparable GAAP financial measure, see the Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures in the financial tables section above.

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SOURCE MSA Safety

FAQ

What were MSA Safety's Q3 2024 earnings per share?

MSA Safety reported GAAP earnings of $1.69 per diluted share and adjusted earnings of $1.83 per diluted share in Q3 2024.

How much revenue did MSA Safety generate in Q3 2024?

MSA Safety generated net sales of $433 million in Q3 2024, representing a 3% decrease from the previous year.

What is MSA Safety's growth outlook for Q4 2024?

MSA Safety expects mid-single-digit sales growth in Q4 2024, leading to low-single-digit growth for the full year 2024.

What was MSA Safety's operating margin in Q3 2024?

MSA Safety achieved a GAAP operating margin of 21.1% and an adjusted operating margin of 22.6% in Q3 2024.