MSA Safety (MSA)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	852,138	811,207	761,841	712,445	673,831	654,703	634,747	623,347	615,348	599,385	584,084	572,829	595,492	600,176	624,739	644,078	636,612	632,153	621,754	614,506
Revenue (ttm)	US$ in thousands	1,787,646	1,708,559	1,648,578	1,586,762	1,527,954	1,483,509	1,447,089	1,415,368	1,400,181	1,370,674	1,338,733	1,315,694	1,348,223	1,335,229	1,381,851	1,417,088	1,401,981	1,388,510	1,368,592	1,358,248
Gross profit margin		47.67%	47.48%	46.21%	44.90%	44.10%	44.13%	43.86%	44.04%	43.95%	43.73%	43.63%	43.54%	44.17%	44.95%	45.21%	45.45%	45.41%	45.53%	45.43%	45.24%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $852,138K ÷ $1,787,646K
= 47.67%

The gross profit margin of MSA Safety Inc has shown a generally increasing trend over the past eight quarters. The margin has improved from 43.83% in Q1 2022 to 47.67% in Q4 2023, indicating the company's ability to effectively manage its direct production costs and generate greater profits on sales. This steady improvement suggests that MSA Safety Inc may be enhancing operational efficiency, negotiating better pricing with suppliers, or implementing cost-saving measures. Overall, the increasing trend in the gross profit margin reflects positively on the company's financial performance and potential for sustainable profitability.