MSA Safety Inc. Files Q3 2024 10-Q Report

TL;DR

MSA Safety Q3 10-Q filed. Financials for 9 months ending Sep 30, 2024, are in.

AI Summary

MSA Safety Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial data and operational details for these periods are presented, including comparative figures from the previous year.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of MSA Safety Inc., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 2024 Q3 — Reporting Period (Covers the third quarter of 2024)
• 2024-09-30 — End of Fiscal Period (The date through which financial information is reported)
• 2023-09-30 — Prior Year Comparison Period (Used for comparing financial performance)

Key Players & Entities

• MSA Safety Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241024 (date) — Filing date
• 1000 CRANBERRY WOODS DRIVE (location) — Company's business and mailing address
• CRANBERRY TOWNSHIP, PA 16066 (location) — Company's business and mailing address

FAQ

Filing Documents

• msa-20240930.htm (10-Q) — 1239KB
• ex311-q32024.htm (EX-31.1) — 9KB
• ex312-q32024.htm (EX-31.2) — 9KB
• ex32-q32024.htm (EX-32) — 6KB
• msa-20240930_g1.jpg (GRAPHIC) — 6KB
• 0000066570-24-000045.txt ( ) — 7987KB
• msa-20240930.xsd (EX-101.SCH) — 53KB
• msa-20240930_cal.xml (EX-101.CAL) — 78KB
• msa-20240930_def.xml (EX-101.DEF) — 267KB
• msa-20240930_lab.xml (EX-101.LAB) — 673KB
• msa-20240930_pre.xml (EX-101.PRE) — 486KB
• msa-20240930_htm.xml (XML) — 1357KB

Signatures

Signatures 35 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 September 30, Nine Months Ended September 30, (In thousands, except per share values) 2024 2023 2024 2023 Net sales $ 432,679 $ 446,728 $ 1,308,443 $ 1,292,290 Cost of products sold 225,223 227,967 682,427 678,335 Gross profit 207,456 218,761 626,016 613,955 Selling, general and administrative 95,103 102,175 294,329 289,602 Research and development 16,707 17,682 49,695 48,906 Restructuring charges (Note 3) 1,184 3,285 5,744 8,382 Currency exchange losses, net 2,985 1,496 4,715 8,781 Loss on divestiture of MSA LLC (Note 17) — — — 129,211 Product liability expense (Note 17) — — — 3 Operating income 91,477 94,123 271,533 129,070 Interest expense 9,153 12,498 29,556 37,149 Other income, net ( 5,833 ) ( 6,037 ) ( 16,215 ) ( 15,487 ) Total other expense, net 3,320 6,461 13,341 21,662 Income before income taxes 88,157 87,662 258,192 107,408 Provision for income taxes (Note 10) 21,509 22,406 61,171 125,235 Net income (loss) $ 66,648 $ 65,256 $ 197,021 $ ( 17,827 ) Earnings (loss) per share attributable to common shareholders (Note 9): Basic $ 1.69 $ 1.66 $ 5.00 $ ( 0.46 ) Diluted $ 1.69 $ 1.65 $ 4.98 $ ( 0.46 ) Dividends per common share $ 0.51 $ 0.47 $ 1.49 $ 1.40 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 September 30, Nine Months Ended September 30, (In thousands) 2024 2023 2024 2023 Net income (loss) $ 66,648 $ 65,256 $ 197,021 $ ( 17,827 ) Other comprehensive gain (loss), net of tax: Foreign currency translation adjustments (Note 6) 21,329 ( 18,771 ) 1,834 ( 2,538 ) Pension and post-retirement plan adjustments, net of tax (Note 6) 14 188 2,410 742 Unrealized gain on available-for-sale securitie

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View this 10-Q filing on SEC EDGAR