Federal Signal (US:FSS)2023-11-03 12:46Financial Performance Highlights - Federal Signal achieved record net sales of $446 million, a $100 million or 29% increase compared to Q3 2022[5] - The company reported organic growth of $80 million, representing a 23% increase[5] - Operating income reached $62.5 million, up $23 million or 58% year-over-year[5] - Adjusted EBITDA was $78.5 million, a $25 million or 47% increase compared to the same period last year[5] - Adjusted EBITDA margin improved to 17.6%, compared to 15.4% in Q3 2022[5] - GAAP EPS and adjusted EPS both reached a record of $0.71, up $0.19 or 37%, and $0.18 or 34%, respectively[5] Orders and Backlog - Orders totaled $450 million, an increase of $68 million or 18% year-over-year[5] - Backlog reached $1.01 billion, up $182 million or 22% compared to Q3 2022[5] Segment Performance - Environmental Solutions Group (ESG) net sales grew by 31% year-over-year[13] - Safety and Security Systems Group (SSG) net sales grew by 19% year-over-year, with a 120-basis point improvement in adjusted EBITDA margin[13] Outlook - The company is raising its full-year adjusted EPS outlook to a new range of $2.44 to $2.52[24] - Federal Signal is also raising the low end of its full-year net sales outlook by $30 million, establishing a new range of $1.68 billion to $1.72 billion, representing a year-over-year growth of 17% - 20%[24]