MSA Safety Q3 sales beat estimates on acquisitions

Overview

• Industrial safety technology firm's Q3 net sales rose 15% yr/yr, beating analyst expectations

• Adjusted EPS for Q3 increased 8% and met analyst expectations

• Company completed $563 mln acquisition of Autronica Fire and Security

Outlook

• Company maintains full-year sales outlook of low-double-digit reported growth

• Company says net leverage remains within target range, enabling pursuit of growth opportunities

• Company expects recent acquisitions and product launches to support long-term growth

Result Drivers

• ACQUISITION IMPACT - Co said Autronica Fire and Security acquisition contributed to sales growth in Q3

• PRODUCT LAUNCHES - Launch of G1 City Edition SCBA and largest MSA+ connected safety order supported results

• CASH GENERATION - Strong cash generation and capital allocation enabled acquisition and shareholder returns

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the business support supplies peer group is "buy."

• Wall Street's median 12-month price target for Msa Safety Inc is $208.67, about 16.9% above its October 30 closing price of $178.57

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)