NYSE$MSA

MSA Safety Incorporated · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

MSA Safety Incorporated reported revenue growth and strong momentum in incoming order book.

MSA Safety Incorporated reported a 9 percent increase in revenue to $341 million compared to the previous year. GAAP earnings were $25 million, or $0.64 per diluted share, while adjusted earnings were $42 million, or $1.06 per diluted share. The company completed the acquisition of Bacharach, Inc. on July 1, 2021, and anticipates continued growth in the second half of the year.

  • Revenue increased by 9 percent year-over-year, reaching $341 million.
  • GAAP operating income was $35 million, or 10.3 percent of sales.
  • Completed the acquisition of Bacharach, Inc. on July 1, 2021.
  • Incoming order activity exceeded both 2020 and 2019 comparable periods.

Headline financials

Total Revenue

$341M

Previous: $314M+8.5%
EPS (adj)

$1.06

Previous: $1.11-4.5%
Operating Margin

10.3%

No prior period
Adjusted Operating Margin

17.2%

No prior period
Adjusted EBITDA

$70.3M

No prior period
Capital Expenditures

-$20.3M

Previous: -$19.8M-2.3%
Free Cash Flow

$63.6M

Previous: $63.2M+0.7%
Net Income

$25.1M

Previous: $36.1M-30.3%
Operating Income

$35.1M

Previous: $48.3M-27.4%
Gross Profit

$153M

Previous: $142M+8.0%
Cash & Equivalents

$174M

Previous: $136M+27.8%
Total Assets

$1.96B

Previous: $1.75B+12.0%
Stock-Based Comp

$7.4M

Previous: $830K+791.8%

Revenue & EPS history

MSA · Revenue · Quarterly

$341M

Q2 2021+8.5%vs Q2 2020
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Forward guidance

The recent acquisitions, ongoing new product development investments, and the uptick in our order book position us well for the second half of 2021. I remain very confident in our ability to strengthen our market positions as business conditions continue to improve.

Tailwinds

  • Recent acquisitions will add defensiveness to the portfolio.
  • Ongoing new product development investments are fueling growth.
  • Uptick in order book positions the company well.
  • Confident in strengthening market positions.
  • Business conditions continue to improve.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+1.4%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+0.8%

Avg return

30 days after

62%

42 / 68 earnings

Positive

+11.8%

Q1 2017

Best reaction

-8.5%

Q3 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.8%+3.0%-2.1%
Q4 2025+3.2%+2.7%-9.9%
Q3 2025+4.0%-4.1%-0.9%
Q1 2025+2.0%+0.9%+5.6%
Q4 2024+0.2%-2.0%-7.7%
Q3 2024-1.5%-1.4%+3.3%
Q2 2024-1.7%-3.4%-9.3%
Q1 2024-4.4%-2.6%-5.4%
Q4 2023+1.7%+1.9%+4.6%
Q3 2023+7.6%+6.5%+12.3%
Q2 2023+7.8%+5.6%+8.9%
Q1 2023+2.1%+3.4%+6.0%
Q4 2022+2.1%+2.7%-5.4%
Q3 2022+11.0%+13.4%+20.0%
Q2 2022-4.5%-0.6%-5.8%
Q1 2022+0.0%-2.4%+6.4%
Q4 2021+0.9%-0.5%-1.7%
Q3 2021-0.9%-4.1%-2.7%
Q2 2021+1.3%-0.4%-1.6%
Q1 2021+1.0%+2.1%+5.9%
Q4 2020-0.5%+0.2%-6.6%
Q3 2020-6.0%-3.0%+6.6%
Q2 2020+1.7%+2.3%+6.5%
Q1 2020+8.0%+8.2%+14.1%
Q4 2019-5.7%-7.9%-31.0%
Q3 2019-1.5%+3.5%+7.9%
Q2 2019-3.9%-3.2%-8.9%
Q1 2019-2.1%+2.0%-3.7%
Q4 2018+3.7%+2.4%-1.6%
Q3 2018+9.9%+7.8%+8.7%
Q2 2018+0.1%+0.9%+1.7%
Q1 2018-1.1%-2.5%+2.1%
Q4 2017+3.4%+7.7%+4.6%
Q3 2017+2.2%+0.6%-1.8%
Q2 2017-7.5%-9.4%-8.1%
Q1 2017+11.8%+7.6%+9.6%
Q4 2016+1.3%+3.5%-1.5%
Q3 2016-0.5%+2.0%+13.9%
Q2 2016-0.2%-2.9%-0.4%
Q1 2016-4.1%
Q4 2015+0.7%
Q3 2015-6.3%
Q2 2015+11.5%
Q1 2015-4.0%
Q4 2014+7.4%
Q3 2014-1.9%
Q2 2014-1.5%
Q1 2014-0.7%
Q4 2013+8.7%
Q3 2013-8.5%
Q2 2013+6.0%
Q1 2013-5.1%
Q4 2012+10.7%
Q3 2012+4.3%
Q2 2012+0.5%
Q1 2012+0.8%
Q4 2011+2.2%
Q3 2011+10.6%
Q2 2011+3.7%
Q1 2010+9.8%
Q1 2011+2.2%
Q4 2010-3.7%
Q4 2008-3.7%
Q3 2010+4.5%
Q3 2009+4.5%
Q2 2009+0.8%
Q4 2009+0.8%
Q2 2010+0.8%

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