MSA Safety Q2 2025 earnings and outlook
Iain Hoey
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Financial results and market position
MSA Safety has reported its financial results for the second quarter of 2025.
The company said the period included growth in detection and fall protection products, alongside the acquisition of M&C TechGroup to expand its presence in gas analysis and process safety markets.
President and CEO Steve Blanco said: “Our second quarter financial performance demonstrates our team’s commitment to our Accelerate strategy and creating long-term value for our stakeholders.”
Blanco added: “Although we had a difficult comparison within our broader portfolio, leveraging the MSA Business System enabled strong backlog conversion of key customer orders, and we are energized by the momentum in our growth accelerator product categories of detection and fall protection.
“Lastly, we deployed capital for the acquisition of M&C TechGroup to expand our addressable market in detection, further diversify our end markets, and create a synergistic platform for growth in the gas analysis and process safety markets.”
Capital deployment and operational investments
Interim CFO Elyse Brody said the company’s financial position supported continued investment in operations and shareholder returns.
Brody stated: “Our balance sheet remains strong, enabling us to invest in growth and return cash to shareholders through our disciplined capital allocation strategy.”
She added: “Highlights this quarter include the acquisition of M&C TechGroup, our 55th consecutive annual dividend increase, share repurchases, and a strategic footprint investment in Cranberry Township, Pa., to expand manufacturing and engineering capabilities at our detection Center of Excellence.
“We reaffirm our low-single-digit organic sales growth outlook for 2025 while actively preparing for a wide range of macro scenarios, including tariffs, industrial demand, and the timing of the National Fire Protection Association (NFPA) approval for our next-generation self-contained breathing apparatus (SCBA).”
2025 sales outlook and influencing factors
MSA Safety reaffirmed its forecast of low-single-digit organic sales growth for the full year.
The company said macroeconomic conditions and the NFPA approval timeline for its new SCBA remain factors that could influence results.
It added that the timing of industrial demand and any changes to tariff policy were also being monitored.
Use of non-GAAP measures
The company outlined its use of several non-GAAP metrics in assessing performance.
It said organic sales change excludes foreign currency effects, acquisitions and divestitures, and is intended to reflect ongoing business trends.
MSA Safety noted that adjusted operating income, adjusted EBITDA, and related margins exclude items such as restructuring costs, acquisition amortisation, and certain legal expenses.
The firm stated that these measures provide additional insight into operational performance but should be considered alongside GAAP results.
Earnings and liquidity measures
Management said adjusted earnings and adjusted diluted earnings per share are used internally to assess performance trends.
The company added that Debt to adjusted EBITDA and Net debt to adjusted EBITDA are applied in evaluating liquidity and balance sheet strength.
It noted that these calculations may differ from similarly named measures at other companies.
MSA Safety Q2 2025 earnings and outlook: Summary
MSA Safety reported Q2 2025 financial results.
The company recorded growth in detection and fall protection categories.
It acquired M&C TechGroup to expand its detection and process safety portfolio.
Capital was allocated to dividends, share repurchases and facility investment in Pennsylvania.
MSA Safety reaffirmed its low-single-digit organic sales growth outlook for 2025.
Macroeconomic conditions, tariffs, industrial demand and NFPA approval timelines remain risk factors.
Non-GAAP measures including adjusted operating income and adjusted EBITDA were detailed.
The company said these measures are used internally and may differ from other firms’ definitions.
It also tracks adjusted earnings and leverage ratios to assess liquidity.
Management stated that GAAP results should be considered alongside these non-GAAP metrics.