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    MSA Safety Announces Third Quarter 2024 Results

    10/23/24 4:35:00 PM ET
    $MSA
    Industrial Specialties
    Health Care
    Get the next $MSA alert in real time by email

    Strong execution drives resilient margins and EPS growth; Expecting mid-single-digit fourth quarter sales growth, resulting in low-single-digit full-year growth.

    PITTSBURGH, Oct. 23, 2024 /PRNewswire/ -- Global safety equipment and solutions provider MSA Safety Incorporated (NYSE:MSA) today reported financial results for the third quarter of 2024.

    MSA Safety Incorporated

    Quarterly Highlights

    • Achieved quarterly net sales of $433 million, a 3% year-over-year decrease on a reported and organic constant currency basis.



    • Generated GAAP operating income of $91 million, or 21.1% of sales, and adjusted operating income of $98 million, or 22.6% of sales.



    • Recorded GAAP net income of $67 million, or $1.69 per diluted share, and adjusted earnings of $72 million, or $1.83 per diluted share.



    • Repaid $38 million of debt, returned $20 million to shareholders through dividends, invested $14 million for capital expenditures, and repurchased $10 million of common stock.

    "Our team continued to execute well in the third quarter, delivering earnings growth despite a modest sales contraction," said Steve Blanco, MSA Safety President and Chief Executive Officer. "Revenue was impacted by the timing of self-contained breathing apparatus (SCBA) shipments as well as specific customer order delays. That said, we still grew orders by high-single digits in the quarter, and our backlog increased sequentially. We continued to see excellent performance in our detection business, including double-digit sales growth in portables. We remain confident that the overall resilience of our business, the strength of our long-term fundamentals, and our team's embrace of the MSA Business System will enable us to continue advancing our mission and creating value for our shareholders."

    Financial Highlights

    Financial Highlights



    Three Months Ended

    September 30,





    ($ millions, except percentages and per share amounts)



    2024



    2023



    % Change(a)

    Net Sales



    $                 433



    $                 447



    (3) %

    Operating Income



    91



    94



    (3) %

    Adjusted Operating Income



    98



    101



    (3) %

    Net Income



    67



    65



    2 %

    Diluted EPS



    1.69



    1.65



    2 %

    Adjusted Earnings



    72



    70



    3 %

    Adjusted Diluted EPS



    1.83



    1.78



    3 %



    (a) Percentage change may not calculate exactly due to rounding.

    Lee McChesney, MSA Safety Senior Vice President and Chief Financial Officer, commented, "We delivered resilient margin performance and strong cash conversion in the quarter. Our balance sheet remains healthy, with net leverage of 0.9 times. We returned cash to shareholders as part of our disciplined and balanced capital allocation strategy, and we remain well-positioned to invest organically in the business and evaluate M&A opportunities. As we look ahead to the balance of the year, we expect to finish 2024 strong with mid-single-digit sales growth in the fourth quarter, resulting in low-single-digit top-line growth for the full year."

    Conference Call

    MSA Safety will host a conference call on Thursday, October 24, 2024, at 10:00 a.m. Eastern time to discuss its third quarter 2024 results and outlook. The call and an accompanying slide presentation will be webcast at http://investors.msasafety.com/ under the "News and Events" tab, subheading "Events & Presentations." Investors and interested parties can also dial into the call at 1-844-854-4415 (toll-free) or 1-412-902-6599 (international). When prompted, please instruct the operator to be joined into the MSA Safety Incorporated conference call. A replay of the conference call will be available at http://investors.msasafety.com/ shortly after the conclusion of the presentation and will be available for the next 90 days.

    MSA Safety Incorporated

    Condensed Consolidated Statements of Operations (Unaudited)

    (In thousands, except per share amounts)





    Three Months Ended

    September 30,



    Nine Months Ended

    September 30,



    2024



    2023



    2024



    2023

















    Net sales

    $    432,679



    $    446,728



    $ 1,308,443



    $ 1,292,290

    Cost of products sold

    225,223



    227,967



    682,427



    678,335

    Gross profit

    207,456



    218,761



    626,016



    613,955

















    Selling, general and administrative

    95,103



    102,175



    294,329



    289,602

    Research and development

    16,707



    17,682



    49,695



    48,906

    Restructuring charges

    1,184



    3,285



    5,744



    8,382

    Currency exchange losses, net

    2,985



    1,496



    4,715



    8,781

    Loss on divestiture of MSA LLC

    —



    —



    —



    129,211

    Product liability expense

    —



    —



    —



    3

    Operating income

    91,477



    94,123



    271,533



    129,070

















    Interest expense

    9,153



    12,498



    29,556



    37,149

    Other income, net

    (5,833)



    (6,037)



    (16,215)



    (15,487)

    Total other expense, net

    3,320



    6,461



    13,341



    21,662

















    Income before income taxes

    88,157



    87,662



    258,192



    107,408

    Provision for income taxes

    21,509



    22,406



    61,171



    125,235

    Net income (loss)

    $      66,648



    $      65,256



    $    197,021



    $    (17,827)

















    Earnings (loss) per share attributable to common

    shareholders:















    Basic

    $          1.69



    $          1.66



    $          5.00



    $        (0.46)

    Diluted

    $          1.69



    $          1.65



    $          4.98



    $        (0.46)

















    Basic shares outstanding

    39,362



    39,303



    39,370



    39,267

    Diluted shares outstanding

    39,495



    39,450



    39,530



    39,267

     

    MSA Safety Incorporated

    Condensed Consolidated Balance Sheets (Unaudited)

    (In thousands)





    September 30,

    2024



    December 31,

    2023









    Assets







    Cash and cash equivalents

    $                        154,371



    $                        146,442

    Trade receivables, net

    277,346



    294,678

    Inventories

    351,805



    292,604

    Other current assets

    59,147



    52,546

        Total current assets

    842,669



    786,270









    Property, plant and equipment, net

    216,646



    211,877

    Prepaid pension cost

    183,915



    172,161

    Goodwill

    632,837



    627,534

    Intangible assets, net

    254,364



    266,134

    Other noncurrent assets

    111,496



    106,174

       Total assets

    $                     2,241,927



    $                     2,170,150









    Liabilities and shareholders' equity







    Notes payable and current portion of long-term debt, net

    $                          26,915



    $                          26,522

    Accounts payable

    128,031



    111,872

    Other current liabilities

    159,532



    194,424

       Total current liabilities

    314,478



    332,818









    Long-term debt, net

    527,807



    575,170

    Pensions and other employee benefits

    144,105



    143,967

    Deferred tax liabilities

    103,175



    102,419

    Other noncurrent liabilities

    57,017



    48,974

    Total shareholders' equity

    1,095,345



    966,802

       Total liabilities and shareholders' equity

    $                     2,241,927



    $                     2,170,150

     

    MSA Safety Incorporated

    Condensed Consolidated Statements of Cash Flows (Unaudited)

    (In thousands)





    Three Months Ended

    September 30,



    Nine Months Ended

    September 30,



    2024



    2023



    2024



    2023

















    Net income (loss)

    $     66,648



    $     65,256



    $   197,021



    $   (17,827)

    Depreciation and amortization

    15,959



    15,504



    47,563



    44,965

    Tax-effected loss on divestiture of MSA LLC

    —



    —



    —



    199,578

    Contribution on divestiture of MSA LLC

    —



    —



    —



    (341,186)

    Change in working capital and other operating

    1,725



    44,024



    (56,064)



    48,413

    Cash flow from (used in) operating activities

    84,332



    124,784



    188,520



    (66,057)

















    Capital expenditures

    (14,254)



    (12,657)



    (39,814)



    (30,979)

    Property disposals and other investing

    16



    16



    90



    2,690

    Cash flow used in investing activities

    (14,238)



    (12,641)



    (39,724)



    (28,289)

















    Change in debt

    (37,743)



    (68,250)



    (51,003)



    168,648

    Cash dividends paid

    (20,081)



    (18,485)



    (58,670)



    (54,999)

    Company stock purchases under repurchase program

    (10,027)



    —



    (20,027)



    —

    Other financing

    (603)



    653



    (6,472)



    (3,142)

    Cash flow (used in) from financing activities

    (68,454)



    (86,082)



    (136,172)



    110,507

















    Effect of exchange rate changes on cash, cash

    equivalents and restricted cash

    4,495



    (8,501)



    (6,062)



    (14,152)

















    Increase in cash, cash equivalents and restricted cash

    $       6,135



    $     17,560



    $       6,562



    $       2,009

     

    MSA Safety Incorporated

    Segment Information (Unaudited)

    (In thousands, except percentages)





    Americas



    International



    Corporate



    Consolidated

    Three Months Ended September 30, 2024















    Net sales to external customers

    $ 299,497



    $ 133,182



    $              —



    $   432,679

    Operating income













    91,477

    Operating margin %













    21.1 %

    Restructuring charges













    1,184

    Currency exchange losses, net













    2,985

    Amortization of acquisition-related intangible

    assets













    2,269

    Adjusted operating income (loss)

    91,822



    18,174



    (12,081)



    97,915

    Adjusted operating margin %

    30.7 %



    13.6 %







    22.6 %

    Depreciation and amortization













    13,690

    Adjusted EBITDA

    101,339



    22,119



    (11,853)



    111,605

    Adjusted EBITDA margin %

    33.8 %



    16.6 %







    25.8 %

















    Three Months Ended September 30, 2023















    Net sales to external customers

    $ 314,273



    $ 132,455



    $              —



    $   446,728

    Operating income













    94,123

    Operating margin %













    21.1 %

    Restructuring charges













    3,285

    Currency exchange losses, net













    1,496

    Amortization of acquisition-related intangible

    assets













    2,315

    Transaction costs (a)













    78

    Adjusted operating income (loss)

    93,918



    22,577



    (15,198)



    101,297

    Adjusted operating margin %

    29.9 %



    17.0 %







    22.7 %

    Depreciation and amortization













    13,189

    Adjusted EBITDA

    103,157



    26,289



    (14,960)



    114,486

    Adjusted EBITDA margin %

    32.8 %



    19.8 %







    25.6 %

















    (a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

     

    MSA Safety Incorporated

    Segment Information (Unaudited)

    (In thousands, except percentages)





    Americas



    International



    Corporate



    Consolidated

    Nine Months Ended September 30, 2024















    Net sales to external customers

    $ 909,745



    $ 398,698



    $              —



    $  1,308,443

    Operating income













    271,533

    Operating margin %













    20.8 %

    Restructuring charges













    5,744

    Currency exchange losses, net













    4,715

    Net cost for product related legal matter













    5,000

    Amortization of acquisition-related intangible

    assets













    6,888

    Transaction costs (a)













    234

    Adjusted operating income (loss)

    276,523



    55,944



    (38,353)



    294,114

    Adjusted operating margin %

    30.4 %



    14.0 %







    22.5 %

    Depreciation and amortization













    40,675

    Adjusted EBITDA

    305,275



    67,216



    (37,702)



    334,789

    Adjusted EBITDA margin %

    33.6 %



    16.9 %







    25.6 %

















    Nine Months Ended September 30, 2023















    Net sales to external customers

    $ 902,918



    $ 389,372



    $              —



    $  1,292,290

    Operating income













    129,070

    Operating margin %













    10.0 %

    Restructuring charges













    8,382

    Currency exchange losses, net













    8,781

    Loss on divestiture of MSA LLC













    129,211

    Product liability expense













    3

    Amortization of acquisition-related intangible

    assets













    6,936

    Transaction costs (a)













    78

    Adjusted operating income (loss)

    260,428



    60,099



    (38,066)



    282,461

    Adjusted operating margin %

    28.8 %



    15.4 %







    21.9 %

    Depreciation and amortization













    38,029

    Adjusted EBITDA

    287,628



    70,296



    (37,434)



    320,490

    Adjusted EBITDA margin %

    31.9 %



    18.1 %







    24.8 %

















    (a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

    The Americas segment is comprised of our operations in Northern North American and Latin American geographies. The International segment is comprised of our operations in all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived.

    Adjusted operating income (loss), adjusted operating margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA margin are the measures used by the chief operating decision maker to evaluate segment performance and allocate resources. As such, management believes that adjusted operating income (loss), adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin are useful metrics for investors. Adjusted operating income (loss) is defined as operating income excluding restructuring charges, currency exchange (gains) losses, loss on divestiture of MSA LLC, product liability expense, amortization of acquisition-related intangible assets, net cost for product related legal matter and transaction costs. Adjusted operating margin is defined as adjusted operating income (loss) divided by segment net sales to external customers. Adjusted EBITDA is defined as adjusted operating income (loss) plus depreciation and amortization, and adjusted EBITDA margin is defined as adjusted EBITDA divided by segment net sales to external customers. Adjusted operating income (loss), adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin are not recognized terms under GAAP, and therefore do not purport to be alternatives to operating income or operating margin as a measure of operating performance. The company's definition of adjusted operating income (loss), adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin may not be comparable to similarly titled measures of other companies. As such, management believes that it is appropriate to consider operating income determined on a GAAP basis in addition to these non-GAAP measures.

    MSA Safety Incorporated

    Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures

    Organic constant currency sales change (Unaudited)



    Consolidated



    Three Months Ended September 30, 2024



    Fire

    Service(a)

    Detection(b)

    Industrial PPE

    and Other(c)



    Net Sales

         GAAP reported sales change

    (9) %

    5 %

    (5) %



    (3) %

         Plus: Currency translation effects

    — %

    — %

    1 %



    — %

         Organic constant currency sales change

    (9) %

    5 %

    (4) %



    (3) %





    Nine Months Ended September 30, 2024



    Fire

    Service(a)

    Detection(b)

    Industrial PPE

    and Other(c)



    Net Sales

         GAAP reported sales change

    3 %

    3 %

    (3) %



    1 %

         Plus: Currency translation effects

    — %

    — %

    — %



    — %

         Organic constant currency sales change

    3 %

    3 %

    (3) %



    1 %



     (a) Fire Service includes Breathing Apparatus and Firefighter Helmets and Protective Apparel.

     (b) Detection includes Fixed Gas and Flame Detection and Portable Gas Detection.

     (c) Industrial PPE and Other includes Industrial Head Protection, Fall Protection and Non-Core.

    Management believes that organic constant currency sales change is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Organic constant currency sales change highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of organic constant currency sales change is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.

    MSA Safety Incorporated

    Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures

    Organic constant currency sales change (Unaudited)



    Americas Segment





    Three Months Ended September 30, 2024



    Fire

    Service(a)

    Detection(b)

    Industrial PPE

    and Other(c)



    Net Sales

         GAAP reported sales change

    (15) %

    5 %

    (1) %



    (5) %

         Plus: Currency translation effects

    — %

    1 %

    4 %



    2 %

         Organic constant currency sales change

    (15) %

    6 %

    3 %



    (3) %





    Nine Months Ended September 30, 2024



    Fire

    Service(a)

    Detection(b)

    Industrial PPE

    and Other(c)



    Net Sales

         GAAP reported sales change

    (1) %

    3 %

    — %



    1 %

         Plus: Currency translation effects

    — %

    — %

    1 %



    — %

         Organic constant currency sales change

    (1) %

    3 %

    1 %



    1 %



    International Segment





    Three Months Ended September 30, 2024



    Fire

    Service(a)

    Detection(b)

    Industrial PPE

    and Other(c)



    Net Sales

         GAAP reported sales change

    10 %

    4 %

    (15) %



    1 %

         Plus: Currency translation effects

    (2) %

    (1) %

    (1) %



    (2) %

         Organic constant currency sales change

    8 %

    3 %

    (16) %



    (1) %





    Nine Months Ended September 30, 2024



    Fire

    Service(a)

    Detection(b)

    Industrial PPE

    and Other(c)



    Net Sales

         GAAP reported sales change

    13 %

    2 %

    (10) %



    2 %

         Plus: Currency translation effects

    — %

    — %

    — %



    — %

         Organic constant currency sales change

    13 %

    2 %

    (10) %



    2 %



     (a) Fire Service includes Breathing Apparatus and Firefighter Helmets and Protective Apparel.

     (b) Detection includes Fixed Gas and Flame Detection and Portable Gas Detection.

     (c) Industrial PPE and Other includes Industrial Head Protection, Fall Protection and Non-Core.

    Management believes that organic constant currency sales growth is a useful metric for investors, as foreign currency translation can have a material impact on revenue growth trends. Organic constant currency sales growth highlights ongoing business performance excluding the impact of fluctuating foreign currencies, which is outside of management's control. There can be no assurances that MSA's definition of organic constant currency sales growth is consistent with that of other companies. As such, management believes that it is appropriate to consider revenue growth determined on a GAAP basis in addition to this non-GAAP financial measure.

    MSA Safety Incorporated

    Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures

    Adjusted earnings (Unaudited)

    Adjusted diluted earnings per share (Unaudited)

    (In thousands, except per share amounts and percentages)





    Three Months Ended

    September 30,







    Nine Months Ended

    September 30,







    2024



    2023



    %

    Change



    2024



    2023



    %

    Change

























    Net income (loss)

    $     66,648



    $     65,256



    2 %



    $   197,021



    $   (17,827)



    n/m*

























    Currency exchange losses, net

    2,985



    1,496







    4,715



    8,781





    Amortization of acquisition-related

    intangible assets

    2,269



    2,315







    6,888



    6,936





    Restructuring charges

    1,184



    3,285







    5,744



    8,382





    Asset related losses (gains)

    207



    42







    959



    (671)





    Net cost for product related legal matter

    —



    —







    5,000



    —





    Pension settlement

    —



    —







    1,308



    —





    Transaction costs (a)

    —



    78







    234



    78





    Loss on divestiture of MSA LLC

    —



    —







    —



    129,211





    Deferred tax asset write-off related

    to divestiture of MSA LLC

    —



    —







    —



    70,366





    Product liability expense

    —



    —







    —



    3





    Income tax expense on

    adjustments

    (995)



    (2,327)







    (6,412)



    (9,248)





    Adjusted earnings

    $     72,298



    $     70,145



    3 %



    $   215,457



    $   196,011



    10 %

























    Adjusted diluted earnings per

    share

    $         1.83



    $         1.78



    3 %



    $         5.45



    $         4.97



    10 %



    (a)Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.  



    * Not meaningful

    Management believes that adjusted earnings and adjusted diluted earnings per share are useful measures for investors, as management uses these measures to internally assess the company's performance and ongoing operating trends. There can be no assurances that additional special items will not occur in future periods, nor that MSA's definition of adjusted earnings is consistent with that of other companies. As such, management believes that it is appropriate to consider both net income (loss) determined on a GAAP basis as well as adjusted earnings.

    MSA Safety Incorporated

    Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures

    Debt to adjusted EBITDA / Net debt to adjusted EBITDA (Unaudited)

    (In thousands)







    Twelve Months Ended

    September 30, 2024

    Operating income



    $                         373,783

    Depreciation and amortization



    54,173

    Currency exchange losses, net



    13,013

    Amortization of acquisition-related intangible assets



    9,198

    Restructuring charges



    7,254

    Net cost for product related legal matter



    5,000

    Transaction costs (a)



    1,121

    Adjusted EBITDA



    $                         463,542







    Total end-of-period debt



    554,722







    Debt to adjusted EBITDA



    1.2







    Total end-of-period debt



    $                         554,722

    Total end-of-period cash and cash equivalents



    154,371

    Net debt



    $                         400,351







    Net debt to adjusted EBITDA



    0.9



    (a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Operations.

    Management believes that Debt to adjusted EBITDA and Net debt to adjusted EBITDA are useful measures for investors, as management uses these measures to internally assess the company's liquidity and balance sheet strength. There can be no assurances that that MSA's definition of Debt to adjusted EBITDA and Net debt to adjusted EBITDA is consistent with that of other companies.

    About MSA Safety:  

    MSA Safety Incorporated (NYSE:MSA) is the global leader in advanced safety products, technologies and solutions. Driven by its singular mission of safety, the Company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2023 revenues of  $1.8 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania and employs a team of over 5,000 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

    Cautionary Statement Regarding Forward-Looking Statements:

    Except for historical information, certain matters discussed in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance and involve various assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or other comparable words. Actual results, performance or outcomes may differ materially from those expressed or implied by these forward-looking statements and may not align with historical performance and events due to a number of factors, including those discussed in the sections of our annual report on Form 10-K entitled "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors," and those discussed in our Form 10-Q quarterly reports filed after such annual report. MSA's SEC filings are readily obtainable at no charge at www.sec.gov, as well as on its own investor relations website at http://investors.MSAsafety.com. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and caution should be exercised against placing undue reliance upon such statements, which are based only on information currently available to us and speak only as of the date hereof. We are under no duty to update publicly any of the forward-looking statements after the date of this earnings press release, whether as a result of new information, future events or otherwise, except as required by law.

    Non-GAAP Financial Measures:

    This press release includes certain non-GAAP financial measures. These financial measures include organic constant currency revenue growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted earnings, adjusted earnings per diluted share, debt to adjusted EBITDA, and net debt to adjusted EBITDA. These metrics are consistent with how the Company's chief operating decision maker ("CODM") evaluates segment results and makes strategic decisions about the business.  Additionally, these non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management also uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use, and computational methods with respect thereto, may differ from the non-GAAP financial measures and key performance indicators, and computational methods, that our peers use to assess their performance and trends.

    The presentation of these non-GAAP financial measures does not comply with U.S. GAAP. These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP. When non-GAAP financial measures are disclosed, the Securities and Exchange Commission's Regulation G requires: (i) the presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. The presentation of these financial measures does not comply with U.S. generally accepted accounting principles ("GAAP"). For an explanation of these measures, with a reconciliation to the most directly comparable GAAP financial measure, see the Reconciliation of As Reported Financial Measures to Non-GAAP Financial Measures in the financial tables section above.

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/msa-safety-announces-third-quarter-2024-results-302285075.html

    SOURCE MSA Safety

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