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PITTSBURGH - MSA Safety Incorporated (NYSE: MSA), a global leader in safety equipment currently rated with a "GOOD" financial health score on InvestingPro, announced the resignation of its Chief Financial Officer, Lee B. McChesney, who will leave the company effective March 21, 2025. McChesney, who has served as CFO since October 2022, is departing to take on a CFO role at another public company.
President and CEO Steve Blanco has confirmed that MSA Safety has begun a thorough search for McChesney’s successor. In the interim, Elyse L. Brody, MSA’s Executive Director of Financial Planning and Analysis and Strategy, will step into the CFO role.
Blanco expressed gratitude for McChesney’s tenure at MSA, highlighting his advocacy for the MSA Business System and his efforts in improving the company’s Finance organization. "We extend our thanks to Lee for the contributions he has made since joining the company," Blanco said.
MSA Safety, established in 1914, specializes in advanced safety products and technologies. The company has been committed to worker and facility safety across various industries, while also focusing on creating sustainable value for its shareholders, maintaining dividend payments for 53 consecutive years. With revenues reaching $1.8 billion in 2024 and a market capitalization of $5.9 billion, MSA Safety is based in Cranberry Township, Pennsylvania, and employs over 5,000 associates in more than 40 international locations. According to InvestingPro analysis, the stock is currently trading near its 52-week low, with analysts setting price targets ranging from $175 to $212.50 per share. Discover more detailed insights and 8 additional ProTips with an InvestingPro subscription.
The information about the CFO transition at MSA Safety is based on a press release statement.
In other recent news, MSA Safety reported its fourth-quarter 2024 earnings, which exceeded expectations with an adjusted diluted earnings per share (EPS) of $2.25, slightly above the forecast of $2.24. Despite this positive EPS surprise, revenue fell short of projections, reaching $500 million against an anticipated $518.11 million. The company achieved a 9% year-over-year increase in EPS and a 1% revenue growth. MSA Safety projects low single-digit organic sales growth for 2025, with a more pronounced increase expected in the latter half of the year.
In terms of analyst activity, DA Davidson adjusted its price target for MSA Safety to $188, down from $195, but maintained its Buy rating on the stock. The firm noted MSA Safety’s strong margin performance and effective management of selling, general, and administrative expenses. MSA Safety has introduced several innovative products to enhance its market position. The company also anticipates achieving an EPS of $10 to $11 by 2028, according to DA Davidson. These developments underscore the company’s ongoing focus on innovation and operational efficiency.
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