MSA Safety Inc. Files 10-Q for Period Ending March 31, 2024

AI Summary

MSA Safety Inc (MNESP) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. MSA Safety Inc. reported financial results for the first quarter ended March 31, 2024. The filing is a 10-Q, indicating a quarterly report. The company's principal business is in Orthopedic, Prosthetic & Surgical Appliances & Supplies. MSA Safety Inc. is headquartered in Cranberry Township, PA. The filing covers the period from January 1, 2024, to March 31, 2024.

Why It Matters

For investors and stakeholders tracking MSA Safety Inc, this filing contains several important signals. This filing provides investors and analysts with up-to-date financial information, enabling them to assess the company's performance and make informed investment decisions. The 10-Q filing is crucial for understanding MSA Safety Inc.'s financial health, operational segments, and any potential risks or changes since the last report.

Risk Assessment

Risk Level: low — MSA Safety Inc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative disclosures.

Analyst Insight

Monitor future filings for detailed financial performance metrics and segment-specific results to gauge growth and profitability trends.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-04-30 — Filing Date (Filed As Of Date)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-03-31 — Prior Year Quarter End (Comparison Period)

Key Players & Entities

• MSA Safety Inc. (company) — Filer
• 0000066570 (company) — Central Index Key
• 1000 CRANBERRY WOODS DRIVE (address) — Business Address
• CRANBERRY TOWNSHIP (location) — Business Address City
• PA (location) — Business Address State
• 724-776-8600 (phone) — Business Phone
• MINE SAFETY APPLIANCES CO (company) — Former Company Name
• 19920703 (date) — Date of Name Change

FAQ

Industry Context

MSA Safety Inc. operates within the Orthopedic, Prosthetic & Surgical Appliances & Supplies industry, providing safety equipment and solutions.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including quarterly filings (10-Q) and annual reports (10-K).

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Analyze segment performance data once available in subsequent filings or press releases.
3. Compare Q1 2024 results against Q1 2023 and prior periods to identify trends.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 10-K filed for the fiscal year 2023.

Filing Documents

• msa-20240331.htm (10-Q) — 901KB
• leenenseparationagreemen.htm (EX-10.1) — 3KB
• ex311-q12024.htm (EX-31.1) — 9KB
• ex312-q12024.htm (EX-31.2) — 9KB
• ex32-q12024.htm (EX-32) — 6KB
• leenenseparationagreemen001.jpg (GRAPHIC) — 44KB
• leenenseparationagreemen002.jpg (GRAPHIC) — 120KB
• leenenseparationagreemen003.jpg (GRAPHIC) — 125KB
• leenenseparationagreemen004.jpg (GRAPHIC) — 160KB
• leenenseparationagreemen005.jpg (GRAPHIC) — 143KB
• leenenseparationagreemen006.jpg (GRAPHIC) — 148KB
• leenenseparationagreemen007.jpg (GRAPHIC) — 138KB
• leenenseparationagreemen008.jpg (GRAPHIC) — 70KB
• msa-20240331_g1.jpg (GRAPHIC) — 6KB
• 0000066570-24-000022.txt ( ) — 8235KB
• msa-20240331.xsd (EX-101.SCH) — 56KB
• msa-20240331_cal.xml (EX-101.CAL) — 79KB
• msa-20240331_def.xml (EX-101.DEF) — 283KB
• msa-20240331_lab.xml (EX-101.LAB) — 676KB
• msa-20240331_pre.xml (EX-101.PRE) — 487KB
• msa-20240331_htm.xml (XML) — 962KB

Signatures

Signatures 30 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MSA SAFETY INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Three Months Ended March 31, (In thousands, except per share values) 2024 2023 Net sales $ 413,302 $ 398,262 Cost of products sold 217,771 216,864 Gross profit 195,531 181,398 Selling, general and administrative 94,150 91,091 Research and development 15,919 15,232 Restructuring charges (Note 3) 3,017 1,747 Currency exchange losses, net 2,333 4,175 Loss on divestiture of MSA LLC (Note 17) — 129,211 Product liability expense (Note 17) — 3 Operating income (loss) 80,112 ( 60,061 ) Interest expense 10,740 11,476 Other income, net ( 6,235 ) ( 3,800 ) Total other expense, net 4,505 7,676 Income (loss) before income taxes 75,607 ( 67,737 ) Provision for income taxes (Note 10) 17,468 82,436 Net income (loss) $ 58,139 $ ( 150,173 ) Earnings (loss) per share attributable to common shareholders (Note 9): Basic $ 1.48 $ ( 3.83 ) Diluted $ 1.47 $ ( 3.83 ) Dividends per common share $ 0.47 $ 0.46 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. -3- Table of Contents MSA SAFETY INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Unaudited Three Months Ended March 31, (In thousands) 2024 2023 Net income (loss) $ 58,139 $ ( 150,173 ) Other comprehensive gains (losses), net of tax: Foreign currency translation adjustments (Note 6) ( 10,673 ) 11,194 Pension and post-retirement plan actuarial gains, net of tax (Note 6) 374 439 Unrealized gain on available-for-sale securities (Note 6) — 2 Total other comprehensive (loss) gain, net of tax ( 10,299 ) 11,635 Comprehensive income (loss) $ 47,840 $ ( 138,538 ) The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. -4- Table of Contents MSA SAFETY INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS Unaudited (In thousands) March 31, 2024 Dec

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View this 10-Q filing on SEC EDGAR