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

26 Oct '23
1 min read
Pic: MSA Safety
Pic: MSA Safety

Insights

  • US-based safety solutions firm MSA Safety reported a 17 per cent YoY increase in Q3 FY23 net sales, reaching $447 million.
  • The company posted a GAAP operating income of $94 million and adjusted income of $101 million.
  • Adjusted earnings were $70 million in Q3 FY23.
  • MSA Safety also invested $13 million in capital expenditures and repaid $68 million of debt.
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.

Fibre2Fashion News Desk (DP)

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