MSA Safety Q2 sales beat analyst estimates
MSA•Q2 results beat expectations
Industrial safety products maker MSA Safety said second-quarter sales rose 6% and beat analyst expectations. Adjusted earnings per share for the quarter increased 24% and also beat analyst expectations.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $503.3 mln | $496.32 mln (7 Analysts) |
| Q2 Adjusted EPS | Beat | $2.40 | $2.14 (7 Analysts) |
| Q2 EPS | $2.23 | ||
| Q2 Adjusted Net Income | Beat | $93.1 mln | $81.55 mln (6 Analysts) |
| Q2 Net Income | $86.2 mln | ||
| Q2 Adjusted Operating Income | Beat | $121.1 mln | $108.85 mln (6 Analysts) |
| Q2 Operating Income | $112 mln |
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell". The average consensus recommendation for the business support supplies peer group is "buy".
Wall Street's median 12-month price target for MSA Safety Inc is $204.00, about 16% above its July 29 closing price of $175.81. The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 18 three months ago.
Full-year outlook and acquisition update
MSA Safety sees full-year total revenue growth in the low-double-digit percentage range. The company expects mid-single-digit organic growth and mid-single-digit acquisition contribution for the full year, and anticipates a low-single-digit tailwind from foreign exchange for full-year sales.
