Financial Data and Key Metrics Changes - Consolidated net sales for Q1 were $464 million, up $39 million or 9% year over year [6] - Organic sales growth for the quarter was $28 million or 7% [7] - Consolidated operating income for the quarter was $65.7 million, an increase of $11.4 million or 21% compared to last year [7] - Consolidated adjusted EBITDA for the quarter was $85.1 million, up $14.5 million or 21% year over year, translating to a margin of 18.3% [8] - GAAP diluted EPS for the quarter was $0.75, compared to $0.84 in Q1 last year, while adjusted EPS was $0.76, an increase of $0.12 or 19% from last year [8][9] - Cash generated from operations was $37 million, up 17% from Q1 last year [14] Business Line Data and Key Metrics Changes - Environmental Solutions Group (ESG) net sales were $387 million, up $33 million or 9% year over year [9][10] - ESG's operating income was $59.7 million, an increase of $8 million or 15% [10] - ESG's adjusted EBITDA was $77.5 million, up $11 million or 17%, with an adjusted EBITDA margin of 20% [10] - Safety and Security Systems Group (SSG) net sales were $76 million, up $6 million or 8% [11] - SSG's operating income was $15.8 million, an increase of $2 million or 14% [11] Market Data and Key Metrics Changes - Order intake for Q1 was $568 million, an increase of $65 million or 13% year over year, setting a new company record [9][22] - Backlog at the end of the quarter was $1.1 billion, another all-time high for the company [9] - Publicly funded orders increased high single digits year over year, while industrial orders rose double digits [23] Company Strategy and Development Direction - The company aims for annual double-digit top-line growth, split evenly between inorganic and organic growth [20] - Investments in production capacity and supply chain optimization are ongoing to meet increased demand [18][30] - The company is focused on expanding market share through strategic initiatives and new product development [20][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects despite macroeconomic uncertainties, supported by a strong backlog [34] - The company raised its full-year adjusted EPS outlook to a range of $3.63 to $3.90, indicating continued growth [34] - Management noted that demand for products and aftermarket offerings remains strong, with no material changes in customer behavior due to tariffs [29][34] Other Important Information - The company has a low net debt leverage ratio and significant flexibility to invest in growth initiatives and return cash to shareholders [14] - The company has initiated a stock repurchase program with an additional authorization of $150 million [15] Q&A Session Summary Question: How have lead times changed compared to previous periods? - Management indicated that capacity utilization is between 70-72%, with lead times for certain products improving to about six months [40] Question: How have April ESG orders trended? - Management confirmed that the strength in ESG orders was not a pull forward due to tariffs, with strong order growth across various sectors [54] Question: What is the outlook for the rental business? - The rental business grew, with rental income and used equipment sales both up double digits year over year [83] Question: How does the company plan to manage pricing in light of tariffs? - Management stated that they can surcharge backlogs if necessary and emphasized their strong position due to localized supply chains [75][87] Question: What is the current status of the integration of Hog into the business? - Integration efforts are ongoing, with positive customer reception noted during a recent trade show [90]

Federal Signal Q1 2025 Earnings Call April 30, 2025 Jennifer Sherman, President & Chief Executive Officer Ian Hudson, SVP, Chief Financial Officer Felix Boeschen, VP, Corporate Strategy & Investor Relations Safe Harbor This presentation contains unaudited financial information and various forward-looking statements as of the date hereof and we undertake no obligation to update these forward- looking statements regardless of new developments or otherwise. Statements in this presentation that are not historic ...

DOWNERS GROVE, Ill., April 30, 2025 /PRNewswire/ -- Federal Signal Corporation (NYSE: FSS) (the "Company"), a leader in environmental and safety solutions, today reported financial results for the first quarter ended March 31, 2025.First Quarter Highlights Net sales of $464 million, up $39 million, or 9%, from last year; organic growth of $28 million, or 7% Operating income of $65.7 million, up $11.4 million, or 21%, from last year GAAP Diluted EPS of $0.75, compared to $0.84 last year Adjusted EPS of $0.76 ...

Core Viewpoint - Federal Signal Corporation has announced the succession of Brenda L. Reichelderfer as Chair of the Board of Directors, effective April 22, 2025, succeeding Dennis J. Martin who has served in this role since January 2017 [1][2][3] Group 1: Leadership Transition - Brenda L. Reichelderfer has been a member of the Board since October 2006 and was previously the Lead Independent Director [3] - Dennis J. Martin has been on the Board since March 2008 and will continue to serve as Chair Emeritus after being re-elected for another one-year term [2][4] - The transition is part of a strategic, long-term succession planning effort, highlighting the company's commitment to maintaining its growth trajectory [4] Group 2: Background of New Chair - Ms. Reichelderfer has extensive experience, having served on the Board of Directors of Moog Inc. and held various leadership roles at ITT Inc. [3] - Her previous positions include Senior Vice President and Managing Director of TriVista Business Group, and Group President at ITT Inc. [3] Group 3: Company Overview - Federal Signal Corporation, founded in 1901, is a leading global designer, manufacturer, and supplier of products serving municipal, governmental, industrial, and commercial customers [4] - The company operates two main groups: Environmental Solutions and Safety and Security Systems, with headquarters in Downers Grove, Illinois [4]

DOWNERS GROVE, Ill., April 22, 2025 /PRNewswire/ -- Federal Signal Corporation (NYSE: FSS) (the "Company") today announced that its Board of Directors ("Board") declared a quarterly cash dividend of fourteen cents ($0.14) per share on its common stock. The dividend is payable on May 30, 2025 to stockholders of record at the close of business on May 16, 2025. The Company also announced today that its Board has authorized an additional stock repurchase program of up to $150 million of the Company's common sto ...

Core Viewpoint - Federal Signal Corporation will announce its first quarter earnings on April 30, 2025, and will host an investor conference call and webcast on the same day [1]. Group 1: Earnings Announcement - The earnings announcement is scheduled before the market opens on April 30, 2025 [1]. - The investor conference call will take place at 10 a.m. Eastern Time on the same day [1]. Group 2: Access Information - Investors and analysts can access the webcast through the company's website [2]. - The teleconference can be accessed by calling 1-877-704-4453 with a conference ID of 13753307 [2]. - An archived replay of the investor conference call will be available shortly after the call concludes [2]. Group 3: Company Overview - Federal Signal Corporation is a leader in environmental and safety solutions, founded in 1901 [3]. - The company designs, manufactures, and supplies products for municipal, governmental, industrial, and commercial customers [3]. - Federal Signal operates two groups: Environmental Solutions and Safety and Security Systems [3].

Core Viewpoint - Federal Signal (FSS) is a niche-leading specialty vehicle and public safety equipment manufacturer that has shown significant long-term performance, rising 1,460% since 2010, and is positioned for continued growth due to its market dominance and strategic acquisitions [2]. Group 1: Industry Dominance - Federal Signal operates through two main segments: Environmental Solutions Group (ESG) and Safety and Security Systems Group (SSG), contributing 83% and 17% of total revenue respectively [3]. - The ESG segment includes products such as vacuum trucks, street sweepers, and industrial cleaning equipment, while the SSG segment focuses on public safety equipment and warning systems [4]. - The company holds a top market share in its niches and benefits from diversification across various industries, which enhances its resilience [5][7]. Group 2: Acquisition Strategy - Federal Signal has successfully executed 13 acquisitions since 2016, enhancing its market position and entering new verticals [8]. - The acquisition of HOG Technologies for $92.5 million exemplifies this strategy, allowing the company to expand its road marking operations and enter the airport market [9][10]. - The company has maintained an average return on invested capital (ROIC) of 12% over the past decade, indicating effective management of its M&A activities [11]. Group 3: Financial Performance - Federal Signal's EBITDA margins have improved over time due to strategic acquisitions that enhance profitability [12]. - The company has seen significant growth in EBITDA and free cash flow compared to sales since 2010, providing ample funding for future acquisitions [13][14]. - Despite prioritizing M&A spending, Federal Signal raised its dividend by 17% this year following a 29% increase in adjusted earnings per share (EPS) [14][15]. Group 4: Valuation - Federal Signal has achieved sales and EPS growth of 9% and 13% over the last decade, yet trades at a price-to-earnings ratio of 23, below the S&P 500 average of 29 [16].

Financial Data and Key Metrics Changes - For the full year 2024, net sales reached approximately $1.86 billion, an increase of $139 million or 8% compared to last year [8] - Operating income for the year was $281.4 million, up $56.9 million or 25% from last year [9] - Adjusted EBITDA for the year was $350.6 million, up $64.6 million or 23% compared to last year, translating to a margin of 18.8%, up 220 basis points from last year [9] - GAAP diluted EPS for the year was $3.50 per share, up $0.94 per share or 37% from last year [9] - Consolidated net sales for Q4 were $472 million, an increase of $24 million or 5% compared to last year [10] - Consolidated operating income for Q4 was $70.1 million, up $7 million or 11% compared to last year [10] - Consolidated adjusted EBITDA for Q4 was $89.3 million, up $11.8 million or 15% compared to last year [10] - GAAP diluted EPS for Q4 was $0.81 per share, up $0.06 per share or 8% from last year [11] Business Line Data and Key Metrics Changes - Environmental Solutions Group (ESG) sales were $396 million in Q4, an increase of $23 million or 6% compared to last year [11] - ESG's adjusted EBITDA for Q4 was $82.9 million, up $9.6 million or 13% compared to last year, with an adjusted EBITDA margin of 20.9% [12] - Safety and Security Systems Group (SSG) delivered $76 million in sales for Q4, up $1 million or 1% compared to last year [12] - SSG's adjusted EBITDA for Q4 was $16.4 million, up $400,000 or 2% from last year, with an adjusted EBITDA margin of 21.6% [12] Market Data and Key Metrics Changes - Orders in Q4 were $446 million compared to $465 million in Q4 last year, reflecting a decrease primarily due to lower orders from long lead time items [11][28] - Excluding street sweepers and sewer cleaners, total fourth-quarter orders increased by approximately 13% year-over-year [29] - Demand for aftermarket products and services remained strong, with revenues growing 2% year-over-year [24] Company Strategy and Development Direction - The company is focused on raising build rates for extended lead time products, particularly sewer cleaners and street sweepers [22] - The recent acquisition of HOG Technologies is expected to enhance the company's road marking and water blasting businesses, providing access to underpenetrated markets [30][31] - The company aims to capitalize on healthy end-market demand and is committed to operational excellence and customer service to unlock future growth opportunities [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver another record year in 2025, anticipating net sales between $2.02 billion and $2.1 billion [46] - The company expects adjusted EPS for 2025 to be between $3.60 and $3.90 per share, representing double-digit growth [46] - Management noted that while there may be minor disruptions due to the transition of dealer territories, long-term benefits are expected [112] Other Important Information - The company ended the year with $133 million of net debt and has significant flexibility to invest in growth initiatives and return cash to shareholders [19] - A dividend increase of 17% to $0.14 per share was announced for the first quarter of 2025 [20] Q&A Session Summary Question: Health of big cities and exposure to municipal spending - Management highlighted the essential nature of their equipment and the strength in police orders, indicating a diversified revenue stream that positions the company well for 2025 [54][57] Question: Pricing strategies and tariffs - Management confirmed that they have locked in raw material costs for most of the year and can pass on tariff-related costs to customers if necessary [58][60] Question: Rental fleet growth and HOG acquisition - Management indicated that rental fleet growth was not significant in Q4, and HOG does not have a rental business but has a strong aftermarket segment [66][70] Question: Lead times for popular products - Management reported improvements in lead times for sewer cleaners but acknowledged challenges with street sweepers, with lead times extending into 2026 [76][77] Question: Organic growth headwinds for 2025 - Management expects minor issues in Q1 due to territory transitions but is confident in long-term growth opportunities [112] Question: Margins for each segment in 2025 - Management indicated potential for margin improvement across both segments, expecting overall year-over-year improvement in EBITDA margin [118]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-6003 FEDERAL SIGNAL CORPORATION (Exact name of registrant as specified in its cha ...

Core Viewpoint - Federal Signal (FSS) reported quarterly earnings of $0.87 per share, exceeding the Zacks Consensus Estimate of $0.86 per share, and showing an increase from $0.74 per share a year ago [1] Financial Performance - The company achieved an earnings surprise of 1.16% for the quarter, and previously, it had a surprise of 7.32% when it reported earnings of $0.88 per share against an expectation of $0.82 per share [2] - Federal Signal's revenues for the quarter were $472 million, which fell short of the Zacks Consensus Estimate by 1.13%, compared to $448.4 million in the same quarter last year [3] Stock Performance and Outlook - Federal Signal shares have declined approximately 1.8% since the beginning of the year, while the S&P 500 has gained 1.3% [4] - The company's earnings outlook is mixed, with current consensus EPS estimates of $0.77 for the upcoming quarter and $3.76 for the current fiscal year, with revenues expected to be $456.63 million and $2.01 billion respectively [8] Industry Context - The Diversified Operations industry, to which Federal Signal belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, indicating potential challenges ahead [9]