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Mar 31, 2023
MSA Q1 2023 Earnings Report
MSA Safety experienced double-digit sales growth due to continued strong demand.
Key Takeaways
MSA Safety reported a strong first quarter with double-digit revenue growth driven by robust customer demand across product categories and key regions. The company delivered solid incremental margins and remains focused on sustainable value creation for shareholders.
Net sales reached $398 million, a 20% increase (22% on a constant currency basis).
GAAP operating loss was $(60) million, or (15.1)% of sales, while adjusted operating income was $77 million, or 19.4% of sales. The GAAP operating loss includes a pre-tax charge of $129 million related to the legacy liability divestiture.
GAAP net loss was $(150) million, or $(3.83) per diluted share, and adjusted earnings were $54 million, or $1.36 per diluted share. The GAAP net loss includes a one-time, after-tax loss of $200 million related to the legacy liability divestiture.
The company completed the divestiture of a subsidiary holding legacy product liability claims.
MSA
MSA
MSA Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
MSA Safety is increasing its sales growth outlook to high single to low double digits for the full year and remains focused on delivering healthy margins and robust cash flow conversion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income