Filing Flows › MSA Safety (MSA) › Q1 2025
MSA Safety (MSA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
MSA Safety (MSA) reported revenue of $421M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -16% from the quarter before. Operating margin was 18.5%, net earnings $59.6M (14.1% of revenue).
MSA Safety, Q1 2025: revenue $421M (+2% year over year), operating margin 18.5%, net earnings $59.6M, operating cash flow $61.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $421M | -16% | +2% |
| Gross profit | $193M | -18% | -1% |
| Operating profit | $77.8M | -34% | -3% |
| Net earnings | $59.6M | -32% | +3% |
| Operating cash flow | $61.8M | -43% | +22% |
| Free cash flow | $51.0M | -45% | +29% |
What changed
Revenue was $421.3M in Q1 2025, up 2% year over year and down 16% from the previous quarter. Detection was the largest line at 38% of revenue. Detection added $21.9M year over year (up 16%), 272% of the total change. Fire Service declined 8%.
Gross margin was 45.9%, down 1.4 points from a year earlier. Operating profit was $77.8M, a 18.5% margin (down 0.9 points year over year). Operating profit fell $2.4M even though revenue rose $8.0M versus a year earlier, so costs grew faster than sales. Operating expenses grew 0% against revenue growth of 2%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $59.6M, up 3% year over year. The effective tax rate was 23.5%.
Operating cash flow was $61.8M (up 22% year over year), 104% of net earnings. Non-cash charges added back $16.3M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $16.7M. Capital expenditures of $10.8M left free cash flow of $51.0M.
Questions
What was MSA Safety's revenue in the first quarter 2025?
MSA Safety (MSA) reported revenue of $421M for the first quarter 2025 (Q1 2025), +2% from a year earlier and -16% from the quarter before.
Was MSA Safety profitable in the first quarter 2025?
Operating profit was $77.8M (18.5% of revenue) and net earnings $59.6M.
Source: MSA Safety 10-Q on SEC EDGAR.