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MSA Safety Announces Third Quarter 2025 Results

On October 28, 2025, MSA Safety Incorporated (NYSE: MSA), a global leader in safety equipment and solutions, released its financial results for the third quarter of 2025. The results indicate a successful quarter, highlighting the effectiveness of the company’s ongoing strategies and operations despite external challenges.

Key Financial Highlights

• - Quarterly Net Sales: MSA reported quarterly net sales totaling $468 million, representing an impressive 8% GAAP increase and a 3% organic growth year-over-year.

• - Operating Income: The company generated a GAAP operating income of $94 million, which constitutes 20.1% of total sales. When adjusted, the operating income reached $104 million, or 22.1% of sales.

• - Net Income: MSA announced a GAAP net income of $70 million, translating to $1.77 per diluted share. On an adjusted basis, earnings reached $76 million, or $1.94 per diluted share.

• - Free Cash Flow: The free cash flow generated in the quarter was $100 million, while the company reduced its debt by $50 million, achieving a net leverage ratio of 1.0x. MSA also maintains a solid liquidity position with $1.1 billion in resources.

Strategic Overview

Steve Blanco, President and CEO of MSA Safety, expressed satisfaction with the company’s financial performance for Q3, which reflects the successful execution of their Accelerate Strategy. This includes a strong performance in fixed and portable detection systems as well as a remarkable double-digit growth in fall protection services.

Blanco noted, “The successes in these areas have helped counterbalance challenges related to the timing of the United States Assistance to Firefighter Grants program, which experienced delays this year.” Furthermore, he mentioned the positive integration progress of the recently acquired MC TechGroup, a move expected to bolster MSA's growth capabilities.

In her first reporting as CFO, Julie Beck emphasized the exceptional commitment within the company towards safety. “This commitment is a unique asset that distinguishes MSA from others in the industry. Our balance sheet remains robust, ensuring we adhere to a disciplined capital allocation strategy while actively seeking mergers and acquisitions opportunities,” Beck stated.

The company is maintaining its low-single-digit organic sales growth outlook for the entirety of 2025, acknowledging the impact of ongoing U.S. government operational delays and macroeconomic considerations on their service sectors, particularly in fire protection.

Sector Performance

Breaking down the performance metrics, the Americas segment yielded net sales of $313.3 million, with an operating income decrease of 3% year-over-year. Conversely, the International segment excelled with $155.1 million in sales, marking a 16% increase, benefiting from continued demand in global markets for safety equipment.

Sales by product group show strong performance, with the Detection category amounting to 41% of overall sales, Fire Services at 34%, and Industrial PPE and Other products at 25%.

Looking Forward

In light of their current performance, MSA Safety remains positive regarding future growth. A conference call is scheduled for October 29, 2025, at 10 AM ET, where top management will discuss performance results and the outlook for the year. The call will be available via a live webcast accessible through the investor relations section of their website.

Conclusion

MSA Safety Incorporated continues to exemplify resilience and strategic innovation in the safety sector. Responding effectively to market dynamics while enhancing their product offerings positions the company for sustained success as it navigates the complexities of global business environments. MSA's continued focus on their mission of safety not only protects workers across various industries but ensures value creation for its stakeholders.