MSA Safety posted second-quarter net sales of $503 million, a 6% GAAP increase and a 3% organic increase year-over-year. GAAP net income reached $86 million, or $2.23 per diluted share, a 40% rise from the prior-year period, while adjusted earnings were $93 million, or $2.40 per diluted share, up 24%. The company generated free cash flow of $83 million and returned $47 million to shareholders through share repurchases and dividends, also raising its annual dividend for the 56th consecutive year. MSA Safety announced the acquisition of Autronica Fire and Security for approximately $555 million, which closed in July, and provided a full-year sales outlook of low-double-digit total revenue growth supported by mid-single-digit organic growth.
MSA SafetyNet income up 40%, adjusted earnings up 24%, raised dividend, and strong free cash flow.
Acquired by MSA Safety for $555 million, implying a positive valuation event for Autronica.