MSA Safety Inc (MSA) Tops Q3 EPS by 11c, Revenues Beat

MSA Safety Inc (NYSE: MSA) reported Q3 EPS of $1.16, $0.11 better than the analyst estimate of $1.05. Revenue for the quarter came in at $331 million versus the consensus estimate of $329.56 million.

Comments from Management

"Our third quarter results reflect strong returns on investments we\'ve made in new product development and restructuring programs," said Nish Vartanian, MSA President and CEO. "We realized double-digit organic revenue growth and our ongoing focus on productivity helped convert that into 27 percent growth in adjusted earnings," he said.

Mr. Vartanian continued, "It's encouraging to see both the step-change in profitability and improvements in free cash flow." The company's adjusted operating margin increased 120 basis points while free cash flow generation remained strong, with free cash flow conversion in excess of 100 percent of net income in the third quarter. Mr. Vartanian noted that despite investing heavily in research and development projects that will drive future revenue growth, the company's incremental operating margins are approaching 30 percent for the quarter and year to date.

"Our incoming order book and backlog levels point to sustained strength across our core product portfolio, and we continue to see exciting wins in our industrial and fire service market segments. With this momentum, our global teams remain highly focused on executing our strategy and strengthening our market positions in our core products, while continuing to improve productivity and drive free cash flow," Mr. Vartanian said. "I'm confident that formula will continue to position us well as we work to increase value for all MSA stakeholders," he concluded.

For earnings history and earnings-related data on MSA Safety Inc (MSA) click here.

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