Welcome to our dedicated page for Federal Signal news (Ticker: FSS), a resource for investors and traders seeking the latest updates and insights on Federal Signal stock.
Federal Signal Corporation (NYSE: FSS) is a prominent global designer and manufacturer of products and integrated solutions that enhance safety, security, and environmental sustainability. Established in 1901 and headquartered in Oak Brook, Illinois, Federal Signal serves a diverse clientele, including municipal, governmental, industrial, and commercial organizations, with a mission to protect people and the planet.
The company's operations are segmented into two primary groups: Environmental Solutions and Safety and Security Systems. The Environmental Solutions Group is a leading provider of specialized vehicles and equipment, including street sweepers, sewer cleaners, vacuum loaders, hydro-excavation trucks, water blasting systems, dump truck bodies, and trailers. This segment is the major revenue generator for the company, driven by strong customer demand and robust aftermarket services.
The Safety and Security Systems Group offers an array of products aimed at emergency management and public safety, such as campus alert systems, community alerting solutions, emergency vehicles, and interoperable communication systems for first responders. This division has consistently shown impressive growth, contributing significantly to the company's overall performance.
Federal Signal's recent financial performance underscores its strong market position. For the fourth quarter of 2023, the company reported consolidated net sales of $448 million, setting a record for quarterly net sales. Net income during this period was $46.4 million, or $0.75 per diluted share, both new highs for the company. The entire fiscal year saw consolidated net sales of $1.72 billion, a 20% increase over the previous year. Net income for 2023 was $157.4 million, or $2.56 per diluted share, again marking record high results.
Key achievements during the latest quarters include an unprecedented level of customer demand, leading to record order intakes and backlog levels. The company has also seen significant improvement in its operating cash flow, allowing for debt reduction, strategic acquisitions, and increased dividends to shareholders. Recent acquisitions, such as Trackless Vehicles Limited, have further strengthened Federal Signal’s market presence and operational capabilities.
Looking ahead, Federal Signal remains optimistic about its growth prospects. The company has raised its full-year adjusted EPS outlook to a range of $2.95 to $3.15 per share, reflecting confidence in sustained demand and effective execution of strategic initiatives. Federal Signal aims to maintain its momentum by investing in new product development, enhancing production efficiencies, and exploring further strategic acquisitions.
For more information on Federal Signal, visit www.federalsignal.com.
Federal Signal Corporation (NYSE: FSS) announced an agreement to acquire Trackless Vehicles Limited for C$54 million (approximately US$40 million), plus a potential C$6 million earn-out payment. Trackless, based in Courtland, Ontario, generated revenues of C$35 million in 2022 and specializes in municipal sidewalk tractors, particularly the MT Series 7 tractor. The acquisition is expected to enhance Federal Signal's municipal product offerings and expand the distribution of Trackless products in North America. Completion of the transaction is anticipated within 90 days and is expected to be accretive in 2023.
Federal Signal Corporation (NYSE: FSS) will announce its fourth quarter earnings on March 1, 2023, before the market opens. A conference call will follow at 10 a.m. Eastern Time, featuring CEO Jennifer L. Sherman and CFO Ian A. Hudson. Investors can access the call via a teleconference or a webcast on the company's website.
Founded in 1901, Federal Signal specializes in environmental and safety solutions for governmental and industrial customers. The company's operational segments include Environmental Solutions and Safety and Security Systems, boasting facilities worldwide.
The Board of Directors of Federal Signal Corporation (NYSE: FSS) has announced a quarterly cash dividend of $0.09 per share on its common stock. This dividend is payable on March 31, 2023, to stockholders of record as of March 17, 2023. Federal Signal, headquartered in Oak Brook, Ill., is recognized for its quality equipment that serves municipal, governmental, industrial, and commercial sectors. With over a century of experience, the company operates in two primary groups: Environmental Solutions and Safety and Security Systems.
On January 4, 2023, Federal Signal Corporation (NYSE: FSS) announced the completion of its acquisition of substantially all assets and operations of Blasters, Inc., a Tampa-based manufacturer of truck-mounted waterblasting equipment. Previously, the purchase agreement was disclosed on November 17, 2022. This acquisition strengthens Federal Signal's position in the environmental solutions market, enhancing its product offerings and expanding market reach.
Federal Signal Corporation (NYSE: FSS) has signed a definitive agreement to acquire Blasters, Inc., a truck-mounted waterblasting equipment manufacturer, for an initial price of $14 million, with a potential earn-out of $8 million. This acquisition aims to enhance Federal Signal's market position in the maintenance and infrastructure sectors, leveraging synergies with its previous acquisition of Mark Rite Lines. The transaction is expected to close in about 90 days, contingent on customary conditions. Both companies anticipate significant growth opportunities from this strategic partnership.
Federal Signal Corporation (NYSE:FSS) reported strong third-quarter results, with net sales of $346 million, up 16% year-over-year, and adjusted EPS of $0.53, a 10% increase. The company raised its full-year adjusted EPS outlook to a range of $1.91 to $2.00 and net sales outlook to between $1.41 billion and $1.44 billion. Orders increased by 9% to $382 million, and the backlog reached a record $824 million, up 69% from the previous year. Despite supply chain disruptions, the company achieved impressive growth in both its Environmental Solutions and Safety and Security Systems groups.
Federal Signal Corporation (NYSE: FSS) will announce its third quarter earnings on November 3, 2022, before market opening. An investor conference call will take place at 10 a.m. ET, featuring CEO Jennifer L. Sherman and CFO Ian A. Hudson. Investors can access the webcast via federalsignal.com. The company specializes in environmental and safety solutions and operates globally, serving municipal, governmental, industrial, and commercial customers. Stay tuned for earnings insights that may affect stock performance.
The Board of Directors of Federal Signal Corporation (NYSE: FSS) declared a quarterly cash dividend of $0.09 per share on its common stock. This dividend is scheduled for payment on December 2, 2022, to stockholders of record as of November 18, 2022. Federal Signal, founded in 1901 and headquartered in Oak Brook, Illinois, specializes in manufacturing equipment for municipal, governmental, and industrial customers.
Federal Signal Corporation (NYSE: FSS) announced a new five-year $800 million credit facility, replacing its $500 million facility. This includes a $675 million revolving credit facility and a $125 million term loan. The arrangement allows for an increase in borrowing capacity based on EBITDA performance, enhancing financial flexibility for growth initiatives and acquisitions. CEO Jennifer L. Sherman expressed confidence in the more favorable terms, reflecting strong cash flow. Additional details will be disclosed in a Form 8-K filing.
Federal Signal Corporation (NYSE: FSS) has finalized its acquisition of TowHaul Corporation for $46.1 million, enhancing its position as a diversified industrial manufacturer. This strategic purchase, announced on September 7, 2022, allows Federal Signal to expand its offering in off-road towing and hauling equipment. The company anticipates the acquisition will be accretive in 2023 and aims to leverage operational improvements for long-term growth. CEO Jennifer L. Sherman emphasized the opportunity for enhanced product range and global market service.
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