Core Insights - Federal Signal Corporation has completed the acquisition of Scranton Manufacturing Company LLC, known as New Way Trucks, a prominent U.S. designer and manufacturer of refuse collection vehicles [1][2] - The acquisition is expected to enhance Federal Signal's Environmental Solutions Group, leveraging New Way's market position and reputation for quality [2] - Federal Signal has raised its full-year 2025 net sales outlook to a range of $2.12 billion to $2.16 billion, up from $2.10 billion to $2.14 billion, and adjusted EPS outlook to $4.12 to $4.20, from $4.09 to $4.17 [2] Acquisition Details - New Way has a backlog exceeding $100 million, providing visibility into the first half of the next year [2] - The acquisition is anticipated to be neutral to adjusted EPS in 2025, with expected accretion of $0.40 to $0.45 in EPS by 2028, alongside annual run-rate synergies of $15 million to $20 million [2] Company Overview - Federal Signal Corporation, founded in 1901, is a global leader in designing and manufacturing products for municipal, governmental, industrial, and commercial customers [3] - The company operates two main groups: Environmental Solutions and Safety and Security Systems, with headquarters in Downers Grove, Illinois [3]

Financial Data and Key Metrics Changes - The company reported revenues of $229 million for Q3 2025, an increase of $48.4 million, or 26.8% year-over-year [5] - Adjusted EBITDA was $17.3 million, up $2.2 million, or 14.5% compared to the prior year quarter [5] - Adjusted EPS increased to $0.30, reflecting a $0.04 increase, or 15.4% year-over-year [5] - Full-year revenue guidance was raised to between $911.4 million and $948.6 million, with adjusted EBITDA expected between $70.9 million and $73.8 million [10][25] Business Line Data and Key Metrics Changes - Home Health and Hospice segment revenue reached $173.6 million, a 27.9% increase, with adjusted EBITDA of $26.8 million, up 22.7% [12] - Senior Living segment revenue was $55.5 million, up 23.2% year-over-year, with adjusted EBITDA increasing 26.2% [15] - Same-store occupancy in senior living reached 81.8%, with all-store occupancy at 80.9% [15] Market Data and Key Metrics Changes - The average CMS reported star rating for home health was 4.1, compared to the industry average of three stars [12] - Potentially preventable hospitalizations decreased to 8.4%, below the national average of 9.9% [12] - Hospice quality composite score improved to 97%, exceeding the national average of 92% [12] Company Strategy and Development Direction - The company is focused on integrating the recently acquired UnitedHealth Amedisys operations and enhancing local leadership [5][33] - There is a strong emphasis on empowering local clinical leaders to drive operational success and improve clinical outcomes [9][12] - The company plans to continue pursuing acquisition opportunities in senior living and home health, maintaining a disciplined approach [23][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term value of home health services despite current regulatory uncertainties [19] - The company anticipates some lumpiness in results due to integration efforts but expects significant long-term potential from recent acquisitions [6][10] - Management highlighted the importance of local leadership and community engagement in driving operational success [9][48] Other Important Information - The company closed on a $100 million term loan to enhance balance sheet capacity [24] - The acquisition of UnitedHealth Amedisys included 54 locations with trailing 12-month revenues of $189.3 million [21] - The company is actively advocating against proposed regulatory changes that could negatively impact the industry [9][18] Q&A Session Summary Question: What are the top priorities for integration after the Amedisys transaction? - The focus is on identifying and elevating leaders, ensuring exceptional support for agencies, and developing a joint venture with the University of Tennessee [33][34] Question: How should we think about margins in senior living going forward? - As occupancy increases, there is an expectation for improved margins, with a focus on operational efficiency and revenue quality [38] Question: What dynamics are affecting margin guidance? - NCI growth and elevated G&A expenses are impacting EBITDA margins, with adjustments made for these factors [40][41] Question: What is driving the increase in hospice length of stay? - The increase reflects a return to pre-pandemic levels and improved identification of appropriate patients for hospice services [42][43] Question: How is the internal reception of the Amedisys assets? - Employees have shown excitement and commitment, with minimal turnover and strong performance during the transition [46][49] Question: What is the competitive landscape for senior living acquisitions? - There is increased activity in the senior living space, with a mix of opportunities within the company's target range [60][62]

Third -Quarter 2025 Earnings Baxter International Inc. October 30, 2025 1 Forward-Looking Statements This presentation includes forward-looking statements concerning the company's financial results (including the outlook for fourth-quarter and full-year 2025) and operational, business development and regulatory activities. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the fo ...

Company Overview - CBIZ has over 10,000 employees and serves over 135,000 clients[12] - The company's pro forma revenue is approximately $2.8 billion[12] - The client retention rate is approximately 90%[12] - Recurring services account for approximately 72% of revenue, while project-based work accounts for approximately 28%[19, 21] Financial Performance & Guidance - The company's revenue growth guidance for 2025 is between $2.8 billion and $2.95 billion[47] - GAAP EPS guidance for 2025 is $1.97 to $2.02[47] - Adjusted diluted EPS guidance for 2025 is $3.60 to $3.65[47] - The company anticipates an earnout spend for previous acquisitions of approximately $60 million in 2025[47] Growth Strategy - The company aims for long-term revenue growth of 8% to 10%[31] - The company aims for long-term earnings growth of 1.5x to 2x[30]

Core Viewpoint - Federal Signal Corporation has signed a definitive agreement to acquire Scranton Manufacturing Company Inc. d/b/a New Way Trucks for an initial purchase price of $396 million, with additional considerations bringing the total potential cost to $480 million, reflecting a strategic expansion into the waste and recycling industry [1][3]. Financial Details - The initial purchase price of $396 million assumes a cash-free, debt-free transaction and is subject to post-closing adjustments. An additional $30 million will be paid for New Way's manufacturing facilities and real estate rights [1]. - The acquisition includes a contingent earn-out opportunity of up to $54 million based on specified financial targets over two years [1]. - The combined initial purchase price represents a multiple of approximately 11x New Way's projected 2026 EBITDA and about 7x projected 2028 EBITDA, factoring in expected synergies [1]. - The transaction will be financed through cash on hand and Federal Signal's credit facility, with a pro-forma net debt leverage ratio anticipated to be less than 1.5x upon completion [1]. Company Overview - New Way is recognized as a leading U.S. manufacturer of refuse collection vehicles, known for its automated side loaders, rear loaders, and front loaders, serving both municipal and private-hauler customers [2]. - The acquisition is expected to enhance Federal Signal's position in the environmental solutions sector and create a new growth vertical within its Environmental Solutions Group [3]. Strategic Implications - The acquisition is seen as a meaningful expansion into the recession-resilient waste and recycling industry, with significant opportunities for synergies and growth acceleration for New Way [3]. - Federal Signal's expertise in selling refuse equipment and its specialty vehicle platform are expected to drive New Way's growth and margin trajectory [3]. Future Outlook - The transaction is expected to be neutral to earnings per share (EPS) in 2026 but accretive in subsequent years, with anticipated EPS accretion of between $0.40 and $0.45 in 2028, alongside expected annual run-rate synergies of $15 million to $20 million [5][6].

Core Insights - Gibraltar Industries reported a 13% growth in GAAP revenue, reaching $309.5 million, but fell short of analyst expectations of $379.9 million [1][5] - Adjusted EPS increased by 10.8% to $1.13, missing the expected non-GAAP EPS of $1.18 [1][2] - The company experienced significant growth in backlog, particularly in project-driven segments, but faced challenges with lower margins and integration costs from recent acquisitions [1][6] Financial Performance - GAAP revenue for Q2 2025 was $309.5 million, a 13.1% increase year-over-year, but missed estimates by $70.4 million [2][5] - Adjusted EPS was $1.13, up from $1.02 in Q2 2024, but below the estimate of $1.18 [2][6] - Free cash flow was reported at $25.3 million, with a margin of 8.2%, down from 15.9% in Q2 2024 [2][6] Business Segments Overview - Residential segment adjusted net sales reached $230.3 million, an 8.9% increase, but operating margin decreased by 90 basis points to 19.5% [7][13] - Agtech segment revenue grew by 56.8%, driven by the acquisition of Lane Supply, although organic sales were lower [8][14] - Infrastructure segment saw a 1.6% increase in GAAP net sales and a 300 basis-point improvement in operating margin to 28.1% [10][15] Strategic Focus and Acquisitions - The company is diversifying through acquisitions and expanding into new geographies and product lines, with a focus on operational execution and financial management [4][12] - Recent acquisitions in metal roofing have broadened geographic reach and contributed to sales growth [13] - The company is divesting its renewables business to concentrate on residential, agtech, and infrastructure sectors [10][15] Backlog and Future Outlook - Backlog grew by 43% year-over-year, with agtech backlog increasing by 71% [11] - Management reaffirmed guidance for GAAP net sales between $1.15 to $1.20 billion for the full year, indicating growth of approximately 13.9%–18.8% [16] - Adjusted EPS is projected between $4.20 and $4.45, representing a 10% to 16% increase over the prior year [16][17]