Mine Safety Incorporated - MSA STOCK NEWS

MSA Safety has appointed Lee McChesney as Senior Vice President and Chief Financial Officer, effective immediately. McChesney brings over 20 years of financial leadership experience from his previous role at Stanley Black & Decker, overseeing a $12.8 billion business unit. He has a strong track record of successful acquisitions and innovation initiatives, including managing over $500 million in new product development. McChesney succeeds interim CFO Jonathan Buck, who will return to his role as Chief Accounting Officer.

MSA Safety becomes the first-ever 100-year exhibitor at the National Safety Council (NSC) Expo, showcasing its commitment to workplace safety technology. Founded in 1914, MSA highlights its Connected Work Platform, including the ALTAIR io™ 4 Gas Detection Wearable and MSA Grid software, aimed at enhancing worker safety. The expo, taking place in San Diego from September 19-21, features various products such as the V-SHOCK® Overhead Web PFL and ADVANTAGE® 900 Elastomeric Half-Mask Respirator. MSA emphasizes its long-standing dedication to innovation in safety solutions.

The 2021 Corporate Social Responsibility (CSR) report from MSA Safety Inc. is now available online. It highlights MSA's commitment to worker safety and outlines progress in areas like environmental sustainability and diversity. Key achievements include the acquisition of Bacharach, the launch of the V-Gard® C1™ hard hat to combat heat stress, and a donation of over $500,000 in safety equipment to Ukrainian firefighters. The report reflects MSA's strategic investments toward integrating sustainability into product development, demonstrating their commitment to enhancing workforce safety amidst global challenges.

The Board of Directors of MSA Safety has declared a third quarter dividend of 46 cents per share on common stock, payable on September 10, 2022. Shareholders must be on record by August 16, 2022. Additionally, a dividend of 56-1/4 cents per share on preferred stock will be payable on September 1, 2022, also to shareholders of record on August 16, 2022. MSA Safety, established in 1914, had revenues of $1.4 billion in 2021 and operates globally in safety product manufacturing.

MSA Safety Incorporated (NYSE: MSA) announced the resignation of CFO Kenneth Krause, effective August 26, 2022. Krause, who served as CFO since December 2015, is moving to a CFO role at another public company outside Pennsylvania. MSA's Chief Accounting Officer, Jonathan Buck, will serve as interim CFO while the company conducts a nationwide search for a permanent replacement. Chairman and CEO Nish Vartanian acknowledged Krause's contributions, citing improvements in profitability and shareholder returns during his tenure. In 2021, MSA reported revenues of $1.4 billion.

MSA Safety reported Q2 2022 sales of $372 million, marking a 9% increase year-over-year. The company achieved a 16.5% GAAP operating income margin, up from 10.3% last year. Earnings per diluted share improved to $1.21 from $0.64. Operating cash flow declined to $15 million, impacted by increased working capital due to high demand and supply chain constraints. MSA declared an $18 million dividend and repurchased $28 million in shares. Strong order activity contributed to a 15% year-over-year increase in orders.

MSA Safety has secured a $9 million contract with the London Fire Brigade to provide new M1 Self-Contained Breathing Apparatus (SCBA) and telemetry technology, with deliveries starting in Q4 2022. The contract involves comprehensive training for over 4,500 firefighters. The SCBA features advanced ergonomics, lightweight design, and compatibility with MSA's G1 facepiece. This marks a significant partnership aimed at enhancing firefighter safety and operational efficiency in London.

MSA Safety announced a $23 million contract with the Los Angeles County Fire Department to supply its advanced G1 SCBA respiratory protective equipment. This selection followed a thorough evaluation process, highlighting the G1 SCBA's innovative technology and upgrade capabilities. Key features include an integrated thermal imaging camera and Bluetooth technology for real-time data transmission to incident commanders. Delivery of units is slated for September, with invoicing spanning multiple quarters. MSA aims to enhance firefighter safety and positions itself as a leader in firefighting innovation.