MSA Safety Incorporated (NYSE:MSA) Q1 2024 Results Conference Call April 30, 2024 10:00 AM ET Company Participants Chris Hepler - Executive Director, Corporate Development & Investor Relations Nish Vartanian - Chairman, President & Chief Executive Officer Steve Blanco - President and Chief Operating Officer Lee McChesney - Senior Vice President & Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Rob Mason - Baird Ross Sparenblek - William Blair Operator Good day, and welcome to t ...

EXHIBIT 99.1 FOR IMMEDIATE RELEASE FROM: MSA Safety Incorporated Ticker: MSA (NYSE) Media Relations Contact: Mark Deasy (412) 559-8154 Investor Relations Contact: Chris Hepler (412) 225-3717 MSA Safety Announces First Quarter 2024 Results and Upcoming Investor Events Healthy sales growth and robust margin expansion; Maintaining mid-single digit full year sales growth outlook PITTSBURGH, April 29, 2024 - Global safety equipment and solutions provider MSA Safety Incorporated (NYSE: MSA) today reported financi ...

Healthy sales growth and robust margin expansion; Maintaining mid-single digit full year sales growth outlook PITTSBURGH, April 29, 2024 /PRNewswire/ -- Global safety equipment and solutions provider MSA Safety Incorporated (NYSE: MSA) today reported financial results for the first quarter of 2024. Quarterly Highlights Achieved quarterly net sales of $413 million, a 4% increase year-over-year. Generated GAAP operating income of $80 million, or 19.4% of sales, and adjusted operating income of $88 million, o ...

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].

MSA Safety Incorporated (NYSE:MSA) Q4 2023 Results Conference Call February 15, 2024 10:00 AM ET Company Participants Chris Hepler - Executive Director, Corporate Development & Investor Relations Nish Vartanian - Chairman, President & Chief Executive Officer Steve Blanco - President and Chief Operating Officer Lee McChesney - Senior Vice President & Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Larry De Maria - William Blair Rob Mason - Baird Operator Good day, and welcome to ...

PITTSBURGH, Dec. 20, 2023 /PRNewswire/ -- MSA Safety, Inc. (NYSE: MSA), the global leader in the development of safety solutions that help protect people and facility infrastructures, today announced it has been named one of the Best-Managed Companies of 2023 by The Wall Street Journal (WSJ). The Top 250 list, which was established in 2017, is compiled by the Drucker Institute and is published annually by The Wall Street Journal. The Drucker Institute evaluates companies based on five key categories of corp ...

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 - ...