MSA Safety IncMSAEarnings & Financial Report
Mine Safety Appliances, or MSA Safety Incorporated, is an American manufacturer and supplier of safety equipment designed for use in a variety of hazardous conditions in industries such as construction, the military, fire service, and chemical, oil, and gas production. MSA is based in the Pittsburgh suburb of Cranberry.
Revenue
$432.7M
Gross Profit
$207.5M
Operating Profit
$91.5M
Net Profit
$66.6M
Gross Margin
47.9%
Operating Margin
21.1%
Net Margin
15.4%
YoY Growth
-3.1%
EPS
$1.69
MSA Safety Inc Q3 FY2024 Financial Summary
MSA Safety Inc reported revenue of $432.7M (down 3.1% YoY) for Q3 FY2024, with a net profit of $66.6M (up 2.1% YoY) (15.4% margin). Cost of goods sold was $225.2M, operating expenses totaled $116.0M.
Key Financial Metrics
| Total Revenue | $432.7M |
|---|---|
| Net Profit | $66.6M |
| Gross Margin | 47.9% |
| Operating Margin | 21.1% |
| Report Period | Q3 FY2024 |
Revenue Breakdown
MSA Safety Inc Q3 FY2024 revenue of $432.7M breaks down across 3 segments, led by Fix Gas Flame Detection Instruments at $163.2M (37.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Fix Gas Flame Detection Instruments | $163.2M | 37.7% |
| Breathing Apparatus | $160.5M | 37.1% |
| Firefighter Helmetsand Protective Apparel | $109.0M | 25.2% |
MSA Safety Inc Revenue by Segment — Quarterly Trend
MSA Safety Inc revenue by segment across the last 4 reported quarters, showing how each business line (such as Fix Gas Flame Detection Instruments and Breathing Apparatus) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Fix Gas Flame Detection Instruments | — | $158.7M | — | $161.1M |
| Breathing Apparatus | — | $191.2M | $193.8M | $150.6M |
| Firefighter Helmetsand Protective Apparel | — | $118.6M | $117.0M | $109.7M |
MSA Safety Inc Annual Revenue by Year
MSA Safety Inc annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.9B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.9B |
| 2024 | $1.8B |
| 2023 | $1.8B |
| 2022 | $1.5B |
MSA Safety Inc Quarterly Revenue & Net Profit History
MSA Safety Inc results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $510.9M | +2.2% | $86.9M | 17.0% |
| Q3 FY2025 | $468.4M | +8.3% | $69.6M | 14.9% |
| Q2 FY2025 | $474.1M | +2.5% | $62.8M | 13.2% |
| Q1 FY2025 | $421.3M | +1.9% | $59.6M | 14.1% |
| Q4 FY2024 | $499.7M | +0.9% | $87.9M | 17.6% |
| Q3 FY2024 | $432.7M | -3.1% | $66.6M | 15.4% |
| Q2 FY2024 | $462.5M | +3.4% | $72.2M | 15.6% |
| Q1 FY2024 | $413.3M | +3.8% | $58.1M | 14.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $413.3M | $462.5M | $432.7M | $499.7M | $421.3M | $474.1M | $468.4M | $510.9M |
| YoY Growth | 3.8% | 3.4% | -3.1% | 0.9% | 1.9% | 2.5% | 8.3% | 2.2% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.17B | $2.24B | $2.24B | $2.21B | $2.24B | $2.55B | $2.55B | $2.55B |
| Liabilities | $1.18B | $1.21B | $1.15B | $1.06B | $1.05B | $1.30B | $1.25B | $1.19B |
| Equity | $994.8M | $1.03B | $1.10B | $1.14B | $1.19B | $1.25B | $1.30B | $1.37B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $50.9M | $53.3M | $84.3M | $107.9M | $61.8M | $67.2M | $112.5M | $122.4M |