American firm MSA Safety reports 17% YoY net sales growth in Q3 FY23

October 26, 2023 - United States Of America

US-based global safety equipment and solutions provider MSA Safety has reported quarterly net sales of $447 million for the third quarter of its fiscal 2023 (Q3 FY23), marking a substantial 17 per cent year-over-year (YoY) increase. This notable growth reflects the broad-based strength across MSA Safety's product portfolio and diverse geographical reach.

MSA Safety generated a GAAP operating income of $94 million, constituting 21.1 per cent of sales. In addition to this, the adjusted operating income stood at $101 million, or 22.7 per cent of sales. On the profitability front, the company reported a GAAP net income of $65 million, translating to $1.65 per diluted share. The adjusted earnings were even more robust at $70 million, or $1.78 per diluted share, the company said in a press release.

The company invested $13 million in capital expenditures to drive future growth. Alongside this, MSA Safety has prudently managed its financials by repaying $68 million of debt, thereby strengthening its balance sheet.