Welcome to our dedicated page for Mine Safety Incorporated news (Ticker: MSA), a resource for investors and traders seeking the latest updates and insights on Mine Safety Incorporated stock.
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 third-quarter 2020 results with revenue of $304 million, down 13% year-over-year. GAAP operating income stood at $41 million, or 13.5% of sales, down from $60 million a year ago. Adjusted earnings were $37 million or $0.94 per share, reflecting a 18% decrease. Despite a challenging July and August, September saw improved order and revenue growth. MSA plans a global restructuring to save $10-15 million in 2021 while continuing investment in new product development. Debt levels were manageable with a 1.2x debt to adjusted EBITDA ratio.
MSA Safety Incorporated (NYSE: MSA) has scheduled its third quarter earnings conference call for October 29, 2020, at 8:30 a.m. Eastern Time. The call will feature Chairman and CEO Nish Vartanian and CFO Kenneth Krause. Investors can access the call live on the company's website, with a replay available for 90 days afterwards. A press release detailing MSA's third quarter financial results will be issued on October 28, 2020, after the market close. MSA generated revenues of $1.4 billion in 2019 and employs approximately 5,000 people worldwide.
MSA Safety Incorporated (NYSE: MSA) has been awarded the 2020 Best Investor Relations (IR) Website by IR Magazine for its innovative digital engagement with investors. The award highlights MSA's commitment to exceptional customer experiences and an interactive IR platform. The website features a mobile-responsive design, quick-link resources, multimedia content, and ESG reports. Ken Krause, MSA's CFO, emphasized the importance of the digital strategy in connecting with stakeholders as MSA transitions to a mid-cap stock, with growing website visits noted in 2020.
MSA Safety Incorporated (NYSE: MSA) announced that Kenneth Krause, CFO, will present at William Blair's 'What's Next for Industrials?' Virtual Conference on September 24, 2020, at 3:00 p.m. ET. Investors interested in real-time access should contact their William Blair representative. Following the presentation, a replay will be available for 30 days at investors.MSASafety.com under the 'News and Events' section. Established in 1914, MSA is a global leader in safety products, reporting revenues of $1.4 billion in 2019.
MSA Safety Incorporated (NYSE: MSA) announced it will host free online safety seminars from September 14-18, 2020, supporting the National Safety Stand-Down week organized by OSHA. The virtual sessions aim to equip construction workers with safety training, focusing on fall prevention. Eleni Lucido, VP and GM at MSA, emphasized the importance of safety training. MSA has previously trained over 40,000 workers in fall protection techniques. The initiative aligns with MSA's commitment to workplace safety and innovation in safety products.
MSA Safety Incorporated (NYSE: MSA), a leader in safety product development, announced that Chairman and CEO Nish Vartanian, along with CFO Kenneth Krause, will participate in a webcasted conference call sponsored by Stifel on September 10, 2020, at 10:00 a.m. ET. The live webcast can be accessed at investors.msasafety.com. A replay will be available for 30 days post-call. MSA's diverse safety products are utilized across various industries, contributing to its reported revenue of $1.4 billion in 2019.
The Board of Directors of MSA Safety has declared a third quarter dividend of 43 cents per share on common stock, payable on September 10, 2020, to shareholders of record on August 17, 2020. Additionally, a dividend of 56-1/4 cents per share on preferred stock will be paid on September 1, 2020, also to shareholders of record on August 17, 2020. MSA Safety, a leader in safety products, achieved $1.4 billion in revenue in 2019 and operates globally with significant sales outside North America.
MSA Safety reported Q2 2020 revenue of $314 million, down 10% year-over-year, with GAAP operating income of $48 million. Adjusted earnings per share decreased to $1.11. Despite challenging conditions, adjusted operating margins improved. Revenue growth in air-purifying respirators surged 63% as investments were made to modernize manufacturing. MSA's debt stands at $335 million, with ample liquidity of over $136 million in cash. Management anticipates ongoing challenges in the second half of 2020 but remains focused on long-term growth strategies.
MSA Safety Incorporated (NYSE: MSA) will host its second quarter earnings conference call on July 30, 2020, at 8:30 a.m. ET. The call will be led by Chairman, President, and CEO Nish Vartanian, along with Senior VP, CFO, and Treasurer Kenneth Krause. A press release detailing MSA's second quarter financial results will be available on July 29, 2020, after market close. Investors can listen to the call live on the company's website, with a replay available for 90 days.
FAQ
What is the current stock price of Mine Safety Incorporated (MSA)?
What is the market cap of Mine Safety Incorporated (MSA)?
What does MSA Safety Incorporated do?
Where is MSA Safety headquartered?
What is the stock symbol for MSA Safety?
What are some of the products offered by MSA Safety?
How many employees does MSA Safety have?
What industries does MSA Safety serve?
What are some recent achievements of MSA Safety?
What are MSA Safety's revenue figures?
What is the MSA Business System?
When is MSA Safety's next earnings conference call?
