MSA Safety Inc 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements MSA SAFETY INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share values) 2026 2025 2026 2025 Net sales $ 503,327 $ 474,116 $ 966,959 $ 895,456 Cost of products sold 254,036 253,406 498,088 481,351 Gross profit 249,291 220,710 468,871 414,105 Selling, general and administrative 114,073 112,078 221,756 206,042 Research and development 19,154 16,996 35,509 32,665 Restructuring charges (Note 4) 2,209 488 4,538 2,412 Currency exchange losses, net 1,896 5,286 2,095 9,363 Operating income 111,959 85,862 204,973 163,623 Interest expense 7,951 8,116 15,654 14,951 Other income, net ( 7,379 ) ( 5,000 ) ( 15,060 ) ( 12,022 ) Total other expense, net 572 3,116 594 2,929 Income before income taxes 111,387 82,746 204,379 160,694 Provision for income taxes (Note 11) 25,193 19,973 46,916 38,316 Net income $ 86,194 $ 62,773 $ 157,463 $ 122,378 Earnings per share attributable to common shareholders (Note 10): Basic $ 2.23 $ 1.60 $ 4.06 $ 3.11 Diluted $ 2.23 $ 1.59 $ 4.05 $ 3.10 Dividends per common share $ 0.54 $ 0.53 $ 1.07 $ 1.04 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. -3- Table of Contents MSA SAFETY INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Unaudited Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2026 2025 2026 2025 Net income $ 86,194 $ 62,773 $ 157,463 $ 122,378 Other comprehensive (loss) income, net of tax: Foreign currency translation adjustments (Note 7) ( 2,188 ) 44,143 ( 8,262 ) 66,680 Pension and post-retirement plan adjustments, net of tax (Note 7) 313 242 641 443 Unrealized gains (losses) on cash flow hedges (Note 7) 110 — ( 45 ) — Reclassification from accumulated other comprehensive loss into net income (Note 7) ( 33 ) — ( 33 ) — Total other comprehensive (loss) income, net of tax ( 1,798 ) 44,385 ( 7,699 ) 67,123 Comprehensive income $ 84,396 $ 107,158 $ 149,764 $ 189,501 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. -4- Table of Contents MSA SAFETY INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS Unaudited (In thousands) June 30, 2026 December 31, 2025 Assets Cash and cash equivalents $ 200,057 $ 165,067 Trade receivables, less allowance for credit loss of $