MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, industrial manufacturing applications, utilities, military, and mining industries in North America, Latin America, and internationally. The company's core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air. Its core product offerings also comprise breathing apparatus products, such as self-contained breathing apparatus; hand-held portable gas detection instruments; industrial head protection products; firefighter helmets and protective apparel; and fall protection equipment, including confined space equipment, harnesses, lanyards, and self-retracting lifelines, as well as engineered systems. In addition, the company offers air-purifying respirators, eye and face protection products, ballistic helmets, and gas masks. It serves distributors and end-users through indirect and direct sales channels. The company offers its product under the V-Gard, Cairns, and Gallet brand names. MSA Safety Incorporated was founded in 1914 and is based in Cranberry Township, Pennsylvania.

MSA Safety Incorporated

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Loss on Divestiture of MSA LLC

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Net Income Attributable to MSA Safety Incorporated

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Basic

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Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	1,863.6	1,808.1	1,787.6	1,528	1,400.2	1,348.2	1,402	1,358.1	1,196.8	1,149.5	1,130.8
Total Revenues %Chg	3.3%	1.1%	17%	9.1%	3.9%	-3.8%	3.2%	13.5%	4.1%	1.7%	-0.3%
Net Sales
Cost of Sales	997.4	947.7	935.5	854.1	784.8	752.7	763.4	746.2	657.9	627.3	629.7
Cost of Products Sold
Gross Profit	866.2	860.4	852.1	673.8	615.3	595.5	638.6	611.9	538.9	522.2	501.1
Gross Profit
Gross Profit Margin	46.5%	47.6%	47.7%	44.1%	43.9%	44.2%	45.6%	45.1%	45%	45.4%	44.3%
Selling, General & Administrative Expenses	409.3	394.7	396.6	338.9	332.9	290.3	330.5	324.8	300.1	308.2	315.3
Selling, General and Administrative
Research & Development Expenses	66	66.5	68	57	57.8	58.3	57.8	52.7	50.1	46.8	48.6
Research and Development
Other Operating Expenses	-9	2.8	122	18.3	201.5	57.8	22.4	56.2	138.9	4.9	10.1
Restructuring Charges
Currency Exchange Losses, Net
Product Liability Expense
Loss on Divestiture of MSA LLC
Operating Profit	375.6	389.2	231.3	239.1	22.8	171.9	188.2	173.5	39.6	160.7	122.7
Operating Income
Operating Margin	20.2%	21.5%	12.9%	15.7%	1.6%	12.7%	13.4%	12.8%	3.3%	14%	10.9%
Interest Expense	-30.7	-36.9	-46.7	-21.7	-10.8	-9.4	-13.6	-18.9	-15.4	-16.4	-10.9
Interest Expense
Non-Operating Income	-25.1	-22.7	-22.1	-21.1	-11.6	-5.7	-11.1	-10.7	-5.6	-7.6	-0.9
Other Income, Net
Loss on Extinguishment of Debt
Other Loss, Net
Total Non-Operating Income	-55.8	-59.6	-68.8	-42.7	-22.3	-15.1	-24.7	-29.6	-20.9	-24	-11.7
Income Before Provision for Income Taxes	370	375	206.7	238.5	23.6	168.1	185.8	162.3	29.8	151.9	111
Income Before Income Taxes
Provision for Income Taxes	90	90	148.1	58.9	1.8	43	46.5	37.2	2.8	57.8	44.4
Provision for Income Taxes
Consolidated Net Income	279.9	285	58.6	179.6	21.8	125.1	139.2	125.1	27	188	134.6
Income from Continuing Operations
Net Income
Net Income Attributable to Minority Interests and Other	—	—	—	—	0.4	1.1	1.2	1	0.9	1.9	-2.9
Net Income Attributable to Noncontrolling Interests
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—	—	—	—	-1	2.5
Income from Discontinued Operations
Income from Discontinued Operations
Net Income Attributable to Common Shareholders	279.9	285	58.6	179.6	21.3	124.1	138	124.2	26	183.9	141.6
Net Income Attributable to MSA Safety Incorporated
Net Income
Basic EPS	7.1	7.2	1.5	4.6	0.5	3.2	3.6	3.2	0.7	2.5	1.9
Diluted EPS	7.1	7.2	1.5	4.6	0.5	3.2	3.5	3.2	0.7	2.4	1.8
Basic Weighted Average Shares Outstanding	39.3	39.4	39.3	39.2	39.2	38.9	38.7	38.4	38	37.5	37.3
Total Shares Outstanding	39.2	39.3	39.3	39.2	39.3	39.1	38.8	38.5	38.2	37.7	37.4
Diluted Weighted Average Shares Outstanding	39.4	39.5	39.5	39.4	39.4	39.3	39.2	39	38.7	38	37.7
EBITDA	445.3	453.5	292.1	295.5	73.1	211.6	226.3	211.3	77.5	196	154.4
Effective Tax Rate	24.3%	24%	71.7%	24.7%	7.7%	25.6%	25.1%	22.9%	9.5%	38.1%	40%