MSA Safety reported strong third-quarter results with double-digit organic sales growth and margin expansion. The company saw robust demand across its product portfolio, ending the quarter with record backlog.
Total sales reached $382 million, with organic growth of 12% and constant currency growth of 16% year-over-year.
GAAP operating income was $64 million, representing 16.8% of sales, while adjusted operating income was $75 million, or 19.7% of sales.
GAAP earnings were $45 million, or $1.14 per diluted share, compared to $21 million, or $0.54 per diluted share in the same period last year. Adjusted earnings were $57 million or $1.45 per diluted share.
Operating cash flow increased to $64 million, compared to $46 million in the same period a year ago.
The company is continuing to invest in developing new safety technologies that advance the MSA mission, contribute to profitable growth, and drive stakeholder value - all while navigating through the current macroeconomic uncertainties
Visualization of income flow from segment revenue to net income