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Mine Safety Incorporated (MSA), established in 1914, stands as the global leader in manufacturing safety products designed to protect people worldwide. Headquartered in Cranberry Township, Pennsylvania, MSA employs approximately 5,000 associates and operates worldwide. The company boasts manufacturing facilities across five continents, major R&D centers in the United States, Germany, and China, and over 40 international locations, ensuring safety for lives in over 140 countries.
MSA's product portfolio includes breathing apparatuses, fall protection, portable gas detection systems, industrial head protection, fire and rescue helmets, and fixed gas and flame detection systems. These products serve industries such as oil and gas, mining, fire services, industrial sectors, and utilities. Despite the simplicity in usage and maintenance, MSA products are highly sophisticated in design, integrating electronics, mechanical systems, and advanced materials to protect against hazardous and life-threatening situations.
As a publicly traded company on the NYSE under the symbol MSA, MSA Safety has achieved record revenue growth in 8 of the past 10 years, with annual revenues reaching approximately $1.8 billion. The company has recently reported strong financial results, highlighting double-digit sales growth and robust margin expansion for the year 2023. MSA's commitment to innovation, commercial strategy, and functional support areas has enabled enhanced customer service and fulfillment of its mission, entering 2024 with significant momentum.
MSA's notable achievements include the development of innovative safety products and solutions, strategic acquisitions, and a disciplined capital allocation strategy. The company's segments—Americas, International, and Corporate—demonstrate its global reach and operational efficiency. Recent leadership changes, such as the planned succession of CEO Nish Vartanian by Steve Blanco, align with MSA's strategic objectives and ensure continued corporate governance excellence.
Among its latest news, MSA has announced a new share repurchase plan, ongoing financial results reporting, and significant leadership transitions. The company is focused on delivering mid-single-digit sales growth for 2024, leveraging the MSA Business System to drive further sales growth and margin expansion.
MSA Safety reported record revenues of $410 million for Q4 2021, a 6% increase year-over-year. However, the company faced a GAAP operating loss of $89 million, significantly down from an operating income of $22 million in Q4 2020. Adjusted operating income improved to $80 million, or 19.5% of sales. The annual revenue reached $1.4 billion, with an annual GAAP earnings drop from $3.15 to $0.54 per diluted share. The operating cash flow stood at $199 million, and the company dealt with a pre-tax charge of $185 million related to product liability reserves.
MSA Safety announced a conference call to discuss its fourth quarter earnings on February 18, 2022, at 8:30 a.m. ET. The call will be hosted by CEO Nish Vartanian and CFO Kenneth Krause, offering insights into financial results following a press release scheduled for February 17, 2022. MSA, headquartered in Cranberry Township, PA, is a leader in safety products, reporting $1.35 billion in revenues for 2020. Stakeholders can access the live call and replay through MSA's website.
MSA Safety Inc. (NYSE: MSA) announced a transition of 64 support positions from Berlin, Germany, to its European Shared Services Center in Warsaw, Poland. The company aims to enhance operational efficiency while maintaining a strong presence in Germany focused on research, product development, and advanced safety technologies. CEO Bob Leenen emphasized the importance of Germany as a growth market and the strategic benefits of the relocation. MSA anticipates consolidating approximately 250 positions across its European Shared Services Center to streamline operations and provide localized customer support.
MSA Safety, a leader in safety solutions, is showcasing its integrated gas detection technology with MSA Bacharach at the AHR Expo in Las Vegas from January 31 to February 2, 2022. This collaboration aims to pioneer new IoT-based solutions for the HVAC-R industry, enhancing remote connectivity and efficiency in refrigerant monitoring. Key products include the Chillgard 5000 Monitor and Parasense Connected Solutions. This strategic integration follows MSA's acquisition of Bacharach in July 2021, aimed at expanding its market reach and capabilities in refrigerant detection technologies.
The Board of Directors of MSA Safety declared a first quarter dividend of 44 cents per share on common stock, set for payment on March 10, 2022. Shareholders on record as of February 14, 2022 will receive this dividend. Additionally, a dividend of 56-1/4 cents per share on preferred stock will be paid on March 1, 2022, also to shareholders of record on February 14, 2022. This highlights MSA's ongoing commitment to returning value to shareholders while maintaining its leadership in safety solutions.
MSA Safety (NYSE: MSA), a leader in safety products, announced that its Chairman and CEO, Nish Vartanian, along with CFO Kenneth Krause, will present at the CJS 22nd Annual New Ideas for the New Year Conference on January 12, 2022, from 8:45 a.m. to 9:20 a.m. E.T. The presentation will be available via live webcast at investors.msasafety.com. A replay will be accessible for 90 days following the event. MSA, established in 1914, recorded $1.35 billion in revenue for 2020 and employs approximately 5,200 people worldwide.
On November 5, 2021, MSA Safety announced that its CEO Nish Vartanian and CFO Kenneth Krause will present at Baird's 2021 Global Industrial Conference on November 9, from 10:15 a.m. to 10:45 a.m. E.T. The presentation will be available via live webcast at investors.msasafety.com and a replay will be accessible for 90 days post-event. MSA Safety, a leading provider of safety products since 1914, had 2020 revenues of $1.35 billion and operates globally in various sectors including oil and gas, construction, and military.
MSA Safety has secured a $4 million contract from the U.S. Department of Health and Human Services to manufacture elastomeric air-purifying respirators for the Strategic National Stockpile. The Advantage® 290 Respirator, produced at MSA's Jacksonville, N.C. facility, boasts a reusable design and advanced filtration that mitigates COVID-19 spread. Recent investments have enhanced production capacity, supporting demand during public health emergencies. MSA's commitment to protecting healthcare workers aligns with its longstanding mission of safety and health.
On October 29, 2021, the Board of Directors of MSA Safety declared a 44 cents per share dividend on common stock, to be paid on December 10, 2021, with a record date of November 15, 2021. Additionally, a 56-1/4 cents per share dividend was declared on preferred stock, payable on December 1, 2021, also with a record date of November 15, 2021. MSA Safety reported 2020 revenues of $1.35 billion and is known for developing safety products across various industries.
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