US’ MSA Safety posts 20% revenue growth in Q2 FY23

August 03, 2023 - United States Of America

US-based global safety equipment and solutions provider MSA Safety Incorporated has reported net sales growth of 20 per cent year-over-year (YoY) in the second quarter (Q2) of fiscal 2023 (FY23), reaching $447 million, bolstered by significant growth across its product portfolio and regions.

The firm's GAAP operating income hit $95 million in Q2 FY23, which equates to 21.2 per cent of sales. Adjusted operating income reached a higher figure of $104 million, or 23.2 per cent of sales, the company said in a press release.

MSA Safety has also disclosed a GAAP net income of $67 million or $1.70 per diluted share, with adjusted earnings amounting to $72 million or $1.83 per diluted share.

The company invested $10 million in capital expenditures, paid off $59 million of its debt, and distributed $18 million in dividends to its shareholders.

Additionally, the company reported growth in its protective apparel segment, with revenue rising by 36 per cent in constant currency.