PITTSBURGH, April 25, 2024 /PRNewswire/ -- MSA Safety, Incorporated (NYSE: MSA), a global leader in the development of advanced safety products and solutions that protect people and facility infrastructures, has named Larry De Maria, CFA, as its Executive Director, Investor Relations. He will report to Lee McChesney, Senior Vice President and Chief Financial Officer, and will also serve on MSA's Global Finance Leadership Team.   Larry De Maria to Lead Investor Relations at MSA Safety Mr. De Maria joins ...

The latest trading session saw MSA Safety (MSA) ending at $190.04, denoting a +1.24% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.Coming into today, shares of the maker of safety products had lost 0.66% in the past month. In that same time, the Industrial Products sector lost 3.72%, while the S&P 500 lost 4.16%.Analysts and investors ...

MSA Safety is embracing the intersection of both innovation and tradition at FDIC in Indianapolis. Post this This year, MSA Safety is debuting its newest fire service product, the MSA Cairns® 1836 Fire Helmet, named in honor of Cairns Helmets' founding year. In the North American fire service market, the Cairns 1836 is one of the lightest weight traditional-style fire helmets available. With a reduced ride height, the helmet enhances comfort, fit and balance for the wearer, and features a patent-pending ...

Sales and Financial Performance - Consolidated net sales for the year ended December 31, 2023, were $1.8 billion, an increase of $259.8 million or 17.0% compared to $1.5 billion in 2022[139]. - The Americas segment reported net sales of $1.2 billion for 2023, up $192.4 million or 18.4% from $1.0 billion in 2022, driven by volume growth and pricing actions[141]. - The International segment achieved net sales of $552.1 million in 2023, an increase of $67.4 million or 13.9% compared to $484.7 million in 2022, with strong performance in core products[142]. - Constant currency sales increased by 16.1% for the year ended December 31, 2023, with the Americas segment at 17.5% and the International segment at 13.2%[140]. - The company expects mid-single digit sales growth in 2024, with incremental margin and cash flow conversion aligned with long-term targets[143]. - Net income for the year ended December 31, 2023, was $58.6 million, or $1.48 per diluted share, compared to $179.6 million, or $4.56 per diluted share, in 2022[168]. - Total other expense for 2023 was $24.6 million, an increase of $24.0 million compared to $0.6 million in 2022, primarily due to increased interest expense[164]. - The effective tax rate for 2023 was 71.6%, significantly higher than 24.7% in 2022, mainly due to the divestiture of MSA LLC[165]. Product Development and Innovation - Core products accounted for approximately 91% of sales in 2023, up from 90% in 2022[16]. - The MSA G1 SCBA is the primary breathing apparatus product in the Americas segment, featuring continuous hardware and software upgrades[17]. - MSA's V-Series fall protection equipment has launched over 50 new products in recent years, enhancing safety for workers at height[23]. - The MSA+ safety solutions platform, launched in 2022, integrates hardware technology with cloud services to facilitate digital transformation and recurring revenue[23]. - MSA continues to invest in research and development for new products and software platforms, but risks include delays and market acceptance challenges[76]. - Research and development expenses increased to $68.0 million in 2023, up $11.0 million, or 19.3%, from $57.0 million in 2022, representing 3.8% of net sales[148]. Market and Competitive Environment - MSA's operations are subject to risks from adverse global economic conditions, particularly in emerging markets, which could lead to declines in revenue and cash flow[66]. - The company faces competitive pressures in the safety products market, where competitors may have greater financial resources and technological advancements[70]. - MSA's sales to government customers are heavily influenced by available government funding, which may fluctuate and impact net sales and cash flow[69]. - The company is exploring the use of Generative AI in its products, with potential risks related to data security and compliance[94]. Workforce and Employee Relations - As of December 31, 2023, the company employed approximately 5,100 people worldwide, with 2,200 in the United States and 2,900 outside the U.S.[38]. - Approximately 20% of the global workforce is covered by collective bargaining agreements or works councils, indicating a stable employee relations environment[38]. - Approximately 53% of the U.S. workforce self-identifies as diverse, with women comprising about 40% of the U.S. workforce[43]. - The company emphasizes the importance of maintaining a diverse workforce and competitive employee compensation to avoid reputational damage and performance issues[85]. Supply Chain and Operational Risks - The company has engaged in formal supply agreements with select strategic supplier partners to ensure a robust supply pipeline despite market constraints[36]. - The demand for certain industrial-based electronic components continues to outpace supply, leading to extended lead times for key components[36]. - The company faces potential supply shortages and disruptions due to reliance on global supply chains and foreign suppliers[86]. - MSA's operations may be adversely affected by climate regulations and the physical impacts of climate change, which could disrupt supply chains[64][65]. Financial Management and Debt - As of December 31, 2023, the company had $292.1 million in variable rate borrowings, with a 50 basis point interest rate change potentially impacting interest expense by $1.7 million[98]. - The company is subject to risks from currency exchange rate fluctuations, which could adversely affect its results of operations and financial condition[89]. - The company had $838.1 million of its $900.0 million senior revolving credit facility unused as of December 31, 2023[174]. - The company expects to generate sufficient operating cash flow to meet future debt service obligations, with total interest expense for 2024 projected to be approximately $40 million[181]. Corporate Governance and Compliance - The company maintains significant intellectual property, including numerous patents and trademarks, to protect its competitive position[35]. - The company is subject to various environmental laws, and noncompliance could have a material adverse effect on its financial condition[58]. - The company has a structured cybersecurity risk management program, including employee training and third-party assessments[101]. - The company must comply with restrictive covenants in its debt agreements, with potential defaults leading to increased borrowing costs[97].

Financial Data and Key Metrics Changes - The company reported total net sales of $1.8 billion for the year, representing a 17% increase compared to the previous year [90] - Adjusted diluted earnings per share were $7.03, up 24% over the prior year [32] - GAAP net income for the quarter was $76 million, or $1.93 per diluted share, with adjusted diluted earnings per share at $2.06, a 14% increase year-over-year [31] - Adjusted operating margin for the year was 22.2%, up 320 basis points from last year [32] - Free cash flow for the quarter was $147 million, with a conversion rate of 180% [112] Business Line Data and Key Metrics Changes - The firefighter safety segment saw healthy growth, with significant contract wins including the Los Angeles City Fire Department and the U.S. Air Force [6][28] - The detection business also made solid progress, with new business secured across fixed detection products [28] - The industrial PPE segment experienced double-digit growth, particularly in fall protection solutions [79] Market Data and Key Metrics Changes - The international segment grew by 6% year-over-year, with balanced growth across product categories and regions [16] - The U.S. market showed strength, particularly in energy and utilities, while construction remained mixed [21] - The company noted a healthy demand environment with a solid new business pipeline [15] Company Strategy and Development Direction - The company aims to enhance its innovation engine and improve go-to-market strategies while increasing productivity and efficiency [4] - A focus on customer-centricity is central to the company's strategy, with ongoing investments in technology and product development [12] - The company is optimizing its global footprint, including the opening of a new manufacturing facility in Morocco to support international growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operating environment, expecting mid-single-digit sales growth in 2024 [113] - The company remains cautiously optimistic, balancing opportunities and risks in a dynamic macroeconomic climate [113] - Management highlighted the importance of continuous improvement and innovation to drive long-term value creation [35] Other Important Information - The company repaid $289 million of debt since the divestiture, finishing the year with a net leverage of 1.0 [17] - The adjusted operating margin improved to 18.2%, driven by volume leverage and price cost management [16] - The company plans to host an Investor Day on May 22 to review its business strategy and financial goals [114] Q&A Session Summary Question: What is the outlook for new fire wins and tenders? - Management indicated a solid pipeline for new tenders, particularly in international markets, with expectations for large opportunities in the next 24 months [48] Question: Can you provide details on the Air Force contract? - Approximately one-third of the Air Force contract remains to be invoiced, expected primarily in Q1, with potential for a Phase 2 [41] Question: What is the impact of the new Morocco facility on gross margins? - The facility is expected to enhance productivity and efficiency, but the gross margin impact is still being assessed as operations ramp up [42] Question: How is the connected worker platform progressing? - The connected worker platform has seen solid customer response, particularly in the industrial space, with expectations for continued growth [102] Question: What is the outlook for backlog and margins in 2024? - Management expects backlog normalization and is optimistic about margin expansion, with incremental margins aligned with long-term targets [106]

Core Insights - MSA Safety, Inc. has been recognized as one of the Best-Managed Companies of 2023 by The Wall Street Journal, highlighting its strong corporate performance and commitment to safety solutions [1][2]. Company Performance - The Top 250 list, established in 2017, evaluates companies based on five key categories: customer satisfaction, employee engagement and development, innovation, social responsibility, and financial strength [2]. - MSA Safety ranked among the top 10 in customer satisfaction, showcasing its effectiveness in meeting customer needs [2]. Recognition and Awards - In addition to the Best-Managed Companies recognition, MSA Safety has received multiple honors in 2023, including being named one of America's Greenest Companies 2024 by Newsweek and one of America's Most Responsible Companies 2023 [4]. - The company has also been recognized as one of the Pittsburgh region's Top Workplaces for the 10th time [4]. Company Overview - Established in 1914, MSA Safety is a global leader in safety products and solutions, with 2022 revenues of $1.5 billion and approximately 5,000 employees worldwide [5]. - The company’s product line includes self-contained breathing apparatus, gas detection systems, industrial head protection, and fall protection devices, serving various markets such as fire service, oil and gas, construction, and military [5]. - MSA Safety generates about half of its revenue from international markets, with manufacturing operations in the United States, Europe, Asia, and Latin America [5].

MSA Safety Incorporated (NYSE:MSA) Q3 2023 Earnings Conference Call October 25, 2023 10:00 AM ET Company Participants Chris Hepler - Executive Director, Corporate Development & Investor Relations Nish Vartanian - Chairman and Chief Executive Officer Steve Blanco - President and Chief Operating Officer Lee McChesney - Senior Vice President and Chief Financial Officer Stephanie Sciullo - President, America Segment Conference Call Participants Stanley Elliott - Stifel Larry De Maria - William Blair Rob Mason - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-15579 MSA SAFETY INCORPORATED (Exact name of registrant as specified in its charter) Pennsylvania 46-4914539 (State or other jurisdiction of incorporation or organiz ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-15579 MSA SAFETY INCORPORATED (Exact name of registrant as specified in its charter) Pennsylvania 46-4914539 (State or other jurisdiction of incorporation or organization ...

MSA Safety Incorporated (NYSE:MSA) Q2 2023 Earnings Conference Call August 1, 2023 10:00 AM ET Company Participants Chris Hepler - Executive Director, Corporate Development & Investor Relations Nish Vartanian - Chairman, President and Chief Executive Officer Lee McChesney - Senior Vice President and Chief Financial Officer Steve Blanco - President and COO Conference Call Participants Larry De Maria - William Blair Stanley Elliott - Stifel Robert Mason - Baird Operator Good day, and welcome to the MSA Safety ...