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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 (NYSE: MSA), a global leader in safety products, will have Kenneth Krause, Senior Vice President and CFO, participate in a webcast on March 23, 2021, at 11:00 a.m. ET. This conference call, sponsored by Baird, will be accessible live through MSA's investor website. Following the event, a replay will be available for 90 days. MSA, which reported $1.35 billion in revenues for 2020, operates internationally, employing around 5,000 people.
MSA Safety reported a Q4 revenue of $388 million, a 3% increase year-over-year, despite a 4% annual decline in total revenue to $1.35 billion. GAAP operating income dropped to $19 million (4.8% of sales) from $40 million (10.7% last year). Adjusted operating income rose to $67 million (17.3% of sales). GAAP and adjusted earnings per diluted share were $0.31 and $1.27, respectively. A significant pre-tax charge of $34 million for product liability reserves affected income. Operating cash flow improved by 26% to $96 million. MSA completed the $60 million acquisition of Bristol Uniforms, enhancing its market position.
MSA Safety Incorporated (NYSE: MSA) announced a fourth quarter earnings conference call scheduled for February 19, 2021, at 8:30 a.m. Eastern Time. The call will be hosted by Nish Vartanian, Chairman, President and CEO, along with Kenneth Krause, Senior Vice President, CFO, and Treasurer. A press release detailing MSA's financial results will be available on February 18, 2021, after market close. MSA, a leader in safety product development, reported revenues of $1.4 billion in 2019, with about half generated outside North America.
MSA Safety has acquired U.K.-based Bristol Uniforms for approximately $60 million. This strategic purchase enhances MSA's leadership in fire service PPE and expands its market presence in the U.K. and Europe. Bristol generates about $40 million in annual revenue and is well-regarded for its protective apparel. MSA anticipates adjusted earnings accretion of $0.03-$0.05 per share within the first year. This acquisition aligns with MSA's growth strategy and builds on prior success, while leveraging Bristol's strong brand to reach new markets.
MSA Safety has declared a first quarter dividend of 43 cents per share on common stock, payable on March 10, 2021, to shareholders of record by February 19, 2021. Additionally, a dividend of 56-1/4 cents per share on preferred stock will be paid on March 1, 2021, also to shareholders of record by February 19, 2021.
Founded in 1914, MSA Safety is a global leader in safety product manufacturing, generating $1.4 billion in revenue in 2019, with around 5,000 employees worldwide.
MSA Safety Incorporated (NYSE: MSA) announced that Kenneth Krause, Senior Vice President and CFO, will present at the CJS 21st Annual New Ideas for the New Year Virtual Conference on January 13, 2021, from 3:45 p.m. to 4:15 p.m. E.T. The event will be webcast live, accessible through MSA's investor website, with a replay available for 90 days post-event. MSA, established in 1914, leads in safety products for various sectors, including oil, gas, construction, and military, generating $1.4 billion in 2019 revenues.
MSA Safety announced a donation of 300 elastomeric half-mask respirators and 600 P-100 filter cartridges to COVID Courage, a NYC-based non-profit. This initiative aims to support healthcare providers amidst the ongoing COVID-19 pandemic. The respirators are reusable, offering significant advantages in terms of sustainability and cost-effectiveness. MSA's President highlighted the critical role of these devices in protecting frontline workers. The collaboration, facilitated by SecondMuse, enables further distribution of PPE to hospitals, enhancing their readiness for current and future health crises.
MSA Safety has announced that its Advantage 290 LS Air-Purifying Respirator, the first elastomeric half-mask respirator without an exhalation valve, has received NIOSH approval. Designed for healthcare, it enhances safety against SARS-CoV-2 by providing personal protection and source control. The respirator aids in maintaining sterile environments and offers flexibility for respiratory protection programs. Preorders will begin in December 2020, with production based in Jacksonville, N.C.. The respirator is compatible with P95 or P100 filters.
MSA Safety Incorporated (NYSE: MSA) announced that its Chairman, President, and CEO, Nish Vartanian, along with CFO Kenneth Krause, will present at Baird's 2020 Global Industrial Conference on November 11, 2020, from 9:05 a.m. to 9:35 a.m. E.T. The presentation will be webcast live at investors.msasafety.com and available for replay for 90 days post-event. MSA, a leader in safety product development, reported $1.4 billion in revenue in 2019 and employs around 5,000 people worldwide.
On October 30, 2020, MSA Safety Incorporated (NYSE: MSA) announced a fourth quarter dividend of 43 cents per share, set for payment on December 10, 2020, to shareholders registered by November 12, 2020. Additionally, a dividend of 56-1/4 cents per share on preferred stock will be distributed on December 1, 2020, also to shareholders on record by November 12, 2020. MSA Safety, a leader in safety products, reported $1.4 billion in revenues for 2019 and has a global workforce of approximately 5,000 employees.
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