US industrial safety products manufacturer MSA Safety has reported September quarter operating income of US$29 million and GAAP earnings of $19m on $340m revenue, up 12% on the same period in 2020.
Operating income for the latest quarter, representing 8.5% of MSA’s sales, compared with $41m for Q3 2020. Earnings were also down on a year ago ($28m). “MSA delivered double-digit growth in quarterly revenue and cash flow while broadening our reach in the safety market and launching ground-breaking safety solutions for our customers,” CEO Nish Vartanian said. “Order pace strengthened through the third quarter and demand is intact. At the same time, inflationary pressures and supply chain constraints have intensified, which is creating a very dynamic cost environment and driving backlog higher. Our book-to-bill ratio was in excess of 1x and backlog is trending at record levels.”
MSA electronic and mechanical safety products, and advanced protective materials, are used by workers in the oil, gas and petrochemical industry, fire services, construction, mining and the military.
The NYSE-listed company (MSA) completed its $337m acquisition of Pennsylvania-based Bacharach in July, extending its gas detection offering. Bacharach adds annual revenue of circa-$70m.
Pittsburgh-headquartered MSA booked 2020 revenues of $1.35 billion and employs about 5200 people worldwide.