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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Beat | $536.40 mln | $528.99 mln (7 Analysts) |
Q3 Adjusted EPS | Meet | $2.09 | $2.09 (7 Analysts) |
Q3 EPS | $1.51 | ||
Q3 Adjusted Net Income | Miss | $80.60 mln | $82.96 mln (5 Analysts) |
Q3 Net Income | $58.40 mln | ||
Q3 Adjusted Operating Income | Beat | $114.90 mln | $112.98 mln (6 Analysts) |
Q3 Operating Income | $88.20 mln |
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.)