PITTSBURGH, May 22, 2024
/PRNewswire/ -- MSA Safety, Inc. (NYSE: MSA), a global leader in
the development of advanced safety products and solutions that
protect people and facility infrastructures, today hosted an
Investor Day in New York City.
Steve Blanco, President and Chief
Executive Officer, Lee McChesney,
Senior Vice President and Chief Financial Officer, and other
members of the leadership team presented an in-depth review of the
company's strategy, product categories, financial performance, and
key initiatives, such as innovation, operational excellence, and
social impact. Additionally, the company also introduced its 2028
financial targets.
Experience the full interactive Multichannel News Release here:
https://www.multivu.com/players/English/9118655-msa-safety-investor-day-recap-2024/
"We are thrilled to offer current and potential shareholders
deeper insight into our long-term strategy for delivering superior
returns during our 2024 investor day," said Steve Blanco, President and Chief Executive
Officer. "The unveiling of our 2028 targets underscores our
confidence in our team's ability to execute our singular safety
mission. Their unwavering commitment to meeting the needs of our
customers builds on the strong foundation we've built over our
110-year history."
Introducing 2028 Financial Targets
- Organic Revenue Range: $2.1B to
$2.3B
- Adjusted Operating Margin: 23.5% to 25.0%
- Adjusted EPS: $10.00 to
$11.00
- Targets to be complemented by more than $1.5 billion of disciplined capital deployment
optionality enabled by a healthy balance sheet and robust free cash
flow generation.
Next Phase of Long-Term Strategy for Profitable
Growth
MSA Safety utilized its investor day to introduce the next phase of
its strategy to drive continued growth and outperformance. Building
on the company's strong market positions and proven innovation
engine that helps solve its customers' most significant safety
challenges, the company's next phase of its strategy includes the
following key strategic pillars:
- Above-Market Profitable Growth. Continue to
be the leader in premium safety solutions, leveraging scale, market
leadership and customer-centric innovation to drive above-market
profitable growth.
- Growth Accelerators. Implement targeted
growth accelerators, in areas such as connected solutions,
higher-growth end markets and safety megatrends around connectivity
and productivity, to expand its suite of solutions with recurring
revenue streams and further build and exercise the company's
M&A capabilities in a disciplined manner.
- MSA Business System. Apply the MSA Business
System, which is a set of behaviors, processes and tools used to
drive continuous improvement across the enterprise, to enable
excellence in in pricing, operations, resource allocation and
balance sheet efficiency.
- Capital Deployment. Allocate capital
effectively to drive value for the organization and for
shareholders while leveraging the company's premier financial
profile to deliver sustainable, long-term growth.
"We recently completed a comprehensive review of our strategy to
understand our strengths and areas of opportunity, and those
results were used to determine our path forward to drive continued
profitable growth," said Mr. Blanco. "We believe we're
uniquely positioned to drive superior performance within our
sector. So, while we continue to drive our strategy forward,
all we do remains centered on advancing our mission by building a
culture that emphasizes continuous innovation and improvement,
talent development, and unmatched customer focus."
Lee McChesney, Senior Vice
President and Chief Financial Officer, added, "When I look at the
future of MSA Safety, I am confident in our ability to drive
consistent mid-single-digit organic growth, leverage our market
positions, and enhance our customers' journey through consistent
investment in innovation. We will continue to be the leader
in premium safety solutions, follow our mission, and deliver on our
promise to those workers around the world who put their trust in
the MSA brand every day."
Investor Day Materials and Webcast Recording
A replay of today's live webcast, along with the presentation
materials, are available on MSA Safety's Investor Relations website
at http://investors.msasafety.com.
About MSA Safety
MSA Safety Incorporated (NYSE: MSA) is the global leader in
advanced safety products, technologies and solutions. Driven by its
singular mission of safety, the Company has been at the forefront
of safety innovation since 1914, protecting workers and facility
infrastructure around the world across a broad range of diverse end
markets while creating sustainable value for shareholders. With
2023 revenues of $1.8 billion, MSA
Safety is headquartered in Cranberry
Township, Pennsylvania and employs a team of over 5,000
associates across its more than 40 international locations. For
more information, please
visit www.MSAsafety.com.
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SOURCE MSA Safety
