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MSA Safety's Fourth Quarter and Full-Year 2025 Results

On February 11, 2026, MSA Safety Incorporated, a leader in safety equipment and solutions, announced its financial performance for the fourth quarter and the entirety of 2025. The results reflect stability and strategic growth in a challenging marketplace pressured by various economical factors.

Fourth Quarter Highlights

In Q4 of 2025, MSA Safety reported net sales of $511 million, representing a slight increase of 2% according to GAAP standards. However, an organic sales decrease of 3% year-over-year was noted, largely attributed to timing delays experienced within the fire service sector.

Operating income during this period reached $114 million, amounting to 22.3% of the net sales. Adjusted operating income increased marginally to $122 million, which is equivalent to 23.9% of net sales. The company recorded a GAAP net income of $87 million, translating to earnings of $2.21 per diluted share. Adjusted earnings were more favorable at $93 million or $2.38 per diluted share.

MSA Safety also returned a total of $61 million to its shareholders, further indicating a solid commitment to capital distribution. This included $40 million dedicated to share repurchases and $21 million disbursed through dividends. Moreover, the company repaid $48 million of debt and invested $16 million for capital expenditures.

Full-Year 2025 Performance

For the entire year of 2025, MSA Safety achieved net sales of $1.9 billion, reflecting a 4% increase in GAAP terms and a 1% organic growth. The firm generated $372 million in GAAP operating income, constituting 19.8% of total sales. Adjusted operating income stood at $415 million or 22.1% of net sales. The net income for the year was recorded at $279 million, translating to $7.09 per diluted share, while adjusted earnings reached $312 million or $7.93 per diluted share.

The report highlighted the acquisition of MC TechGroup for $189 million in 2025, showcasing MSA's commitment to expanding its portfolio amid competitive market conditions. A total of $162 million was returned to shareholders through a combination of dividends and share repurchases, while $68 million was allocated for capital investments.

According to Steve Blanco, President and CEO of MSA Safety, these results reflect solid performance despite operational challenges. He emphasized that the company remains focused on their Mission-driven commitment towards delivering innovative solutions and maintaining a robust commercial pipeline.

Financial Outlook

Looking forward to 2026, MSA Safety anticipates mid-single digit organic sales growth. They outlined potential headwinds including macroeconomic uncertainties and fluctuating demand across industrial sectors, yet they remain confident due to strong global safety product demand and an adaptable business model.

Julie Beck, the Senior VP and CFO, emphasized MSA Safety’s strong balance sheet and liquidity, which enables the company to pursue profitable growth opportunities through their strategic planning. With a net debt of $416 million at the end of 2025 and a net leverage ratio of 0.9x, MSA maintains a strong position to support its goals.

In summary, MSA Safety’s financial results for 2025 exhibit resilience and strategic positioning in a complex operational environment. As they prepare for potential challenges ahead, their commitment to innovative safety solutions continues to be at the forefront of their mission.

Conference Call Announcement
MSA Safety will hold a conference call on February 12, 2026, to discuss these financial results in further detail, including insights from company leadership and projections for the upcoming year. Interested parties can participate through their investor relations website or by dialing in for the live session.