10-Q · August 5, 2025
MSA reported Q2 net sales of $474.1 million, up $11.6 million or 2.5% versus Q2 2024, while diluted EPS declined to $1.59 from $1.83 a year ago. Gross margin compressed to 46.6% (from 48.2%) and GAAP operating income…
Earnings analysis · 10-Q
MSA earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
MSA Safety reported robust Q1 2026 results, with revenue of $463.6 million, up 10.0% year-over-year, and EPS of $1.99, surpassing estimates. The Americas segment showed significant growth, while International saw slight…
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MSA Safety reported robust Q1 2026 results, with revenue of $463.6 million, up 10.0% year-over-year, and EPS of $1.99, surpassing estimates. The Americas segment showed significant growth, while International saw slight declines in organic sales. Management remained optimistic about mid-single-digit organic sales growth for 2026, despite macro headwinds.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.99
What stood out
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Revenue Growth
Revenue increased to $463.6 million, up 10.0% from $421.3 million in Q1 2025.
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EPS Beat
EPS rose to $1.99, exceeding the consensus estimate of $1.83.
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Strong Operating Cash Flow
Operating cash flow reached $75.7 million, an increase from $61.8 million in Q1 2025.
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Healthy Gross Margin
Gross margin improved to 47.4% from 45.9% year-over-year.
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Increased Cash and Equivalents
Cash and cash equivalents of $180.2 million increased by $15.1 million from the previous quarter.
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Acquisition Growth
Segment M&C contributed $14.9 million in revenue across Americas and International segments.
What to watch
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Geopolitical Uncertainty
Ongoing conflicts in the Middle East are impacting International segment sales, with organic sales declining 6.8%.
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Inflationary Pressures
Rising inflation affecting costs, particularly in tariffs and variable compensation.
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Currency Fluctuation Risks
A hypothetical 10% strengthening of the U.S. dollar would decrease reported net sales by approximately $19.4 million.
Management's outlook
Management expects mid-single-digit organic sales growth for 2026.
Earlier filings 4
10-Q · May 1, 2025
MSA reported Q1 net sales of $421.3 million, up $8.0 million or 1.9% year-over-year, driven by an 8.8% increase in International sales while Americas declined 0.8%. Gross profit decreased $2.1 million to $193.4 million…
10-K · February 14, 2025
MSA reports modest top-line growth to $1.808 billion in 2024 (+$20.4M, 1.1%) with materially higher GAAP net income of $284.967 million ($7.21 diluted EPS) versus $58.583 million ($1.48) in 2023, driven largely by the…
10-Q · April 30, 2024
MSA reported Q1 net sales of $413.3 million, up $15.0 million or 3.8% year-over-year, driven by Americas growth. Gross profit rose to $195.5 million (47.3% of sales) and GAAP operating income recovered to $80.1 million…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.