MSA Safety generated a GAAP operating income of $94 million, constituting 21.1 per cent of sales. In addition to this, the adjusted operating income stood at $101 million, or 22.7 per cent of sales. On the profitability front, the company reported a GAAP net income of $65 million, translating to $1.65 per diluted share. The adjusted earnings were even more robust at $70 million, or $1.78 per diluted share, the company said in a press release.
US-based safety solutions firm MSA Safety reported a 17 per cent YoY increase in Q3 FY23 net sales, reaching $447 million.
The company posted a GAAP operating income of $94 million and adjusted income of $101 million.
Adjusted earnings were $70 million in Q3 FY23.
MSA Safety also invested $13 million in capital expenditures and repaid $68 million of debt.
The company invested $13 million in capital expenditures to drive future growth. Alongside this, MSA Safety has prudently managed its financials by repaying $68 million of debt, thereby strengthening its balance sheet.
Fibre2Fashion News Desk (DP)