MSA Q4 2022 Earnings Report
Key Takeaways
MSA Safety Incorporated reported record net sales of $443 million for the fourth quarter of 2022, an increase of 8% on a reported basis and 11% on a constant currency basis. GAAP operating income was $71 million, or 15.9% of sales, and adjusted operating income was $96 million, or 21.6% of sales. The company recorded GAAP earnings of $51 million or $1.31 per diluted share and adjusted earnings of $71 million or $1.80 per diluted share.
Delivered record net sales of $443 million, an increase of 8% on a reported basis and 11% on a constant currency basis.
Generated GAAP operating income of $71 million, or 15.9% of sales, and adjusted operating income of $96 million, or 21.6% of sales.
Recorded GAAP earnings of $51 million or $1.31 per diluted share and adjusted earnings of $71 million or $1.80 per diluted share.
Achieved operating cash flow of $54 million. Free cash flow was $40 million, representing 77% of net income.
MSA
MSA
MSA Revenue by Segment
MSA Revenue by Geographic Location
Forward Guidance
The company expects to deliver full year growth in the mid-single digits, healthy incremental margins and robust cash flow conversion in 2023.
Positive Outlook
- Strong momentum entering 2023.
- Continued demand and growth opportunities across markets.
- Resilient business due to strategic portfolio composition.
- Diverse end markets and geographies.
- Elevated backlog could help cushion an economic slowdown.
Challenges Ahead
- Operating environment expected to remain challenging as we progress through 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income