MSA Safety wins $10 million contract with OCFA

PITTSBURGH - MSA Safety, Inc. (NYSE: MSA), a global leader in the production of safety equipment with a market capitalization of $6 billion and annual revenue of $1.8 billion, has announced securing a $10 million contract to supply the Orange County Fire Authority (OCFA) with advanced respiratory protective equipment. According to InvestingPro data, the company maintains strong financial health with a "GREAT" overall score, supported by a healthy gross margin of 47.6%. This deal further solidifies MSA Safety’s market presence in Southern California, following previous agreements with the Los Angeles County and City Fire Departments.

The OCFA’s decision to update its self-contained breathing apparatus (SCBA) technology to MSA’s G1 SCBA model was based on a thorough evaluation process. The G1 SCBA was chosen for its cutting-edge technology, connectivity features, and the ability to integrate future technological advancements.

The G1 SCBA is at the heart of the MSA Connected Firefighter platform, which includes 15 U.S. patents. This platform enhances firefighter monitoring, accountability, and communication through a suite of integrated safety technologies. The SCBA’s embedded technology allows for the transmission of critical data such as air pressure, battery status, and alarm indicators to incident commanders in real-time via MSA’s FireGrid system.

Bob Apel, MSA Safety Executive Director, emphasized the company’s commitment to equipping fire departments with the most advanced safety solutions. The G1 SCBA, with its capability to continuously incorporate new technologies, aligns with MSA’s vision and growth strategy.

The G1 SCBA also features an integrated thermal imaging camera (iTIC), which provides individual firefighters with thermal imaging capabilities, a significant advancement from the shared handheld devices previously used. MSA Safety’s innovation-driven approach has contributed to its strong market position, with InvestingPro analysis showing the company has maintained dividend payments for 53 consecutive years and operates with a comfortable current ratio of 2.79, indicating solid liquidity to fund continued R&D investments.

The OCFA, established in 1995, is a regional fire service agency serving 23 cities and unincorporated areas within Orange County, California. It operates 78 fire stations and safeguards nearly two million residents. Joann Serakowski, MSA Safety Vice President, expressed the company’s pride in forming a partnership with the OCFA and the honor of being trusted to protect the firefighters serving the Orange County community.

The delivery of the new SCBA units to the OCFA is expected to be completed within the year 2025. This contract represents a continuation of MSA Safety’s legacy in safety innovation and its dedication to protecting workers and communities worldwide. Trading at a P/E ratio of 21, analysts maintain a positive outlook for the company, with several additional growth indicators available through InvestingPro’s comprehensive research reports, which provide deep-dive analysis of 1,400+ top stocks including MSA Safety. The information in this article is based on a press release statement from MSA Safety and InvestingPro data.

In other recent news, MSA Safety reported its fourth-quarter 2024 earnings, revealing an adjusted diluted earnings per share (EPS) of $2.25, which slightly surpassed the forecast of $2.24. However, the company fell short of revenue expectations, reporting $500 million against a projected $518.11 million, though it still marked a 1% year-over-year increase. MSA Safety anticipates a low single-digit revenue increase for 2025, with growth expected to be more pronounced in the latter half of the year, despite challenges in its Military segment and uncertainties in other markets. The company also announced the resignation of its Chief Financial Officer, Lee B. McChesney, effective March 21, 2025, with Elyse L. Brody stepping in as interim CFO. Additionally, DA Davidson adjusted its price target for MSA Safety to $188 from $195, maintaining a Buy rating on the stock. The firm highlighted MSA Safety’s effective management of expenses and the company’s focus on enhancing gross margins to increase earnings per share. MSA Safety’s strategic efforts include launching innovative products, which have bolstered its competitive position in the market.

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