Federal Signal Corporation reports developments in environmental and safety solutions for municipal, governmental, industrial and commercial customers. The company operates through Environmental Solutions and Safety and Security Systems, with products that move material, clean infrastructure and protect communities, including street sweepers, sewer cleaners, vacuum and hydro-excavation trucks, water-blasting equipment, dump bodies, trailers, public-safety equipment and signaling and warning systems.
Company news commonly covers quarterly results, orders, backlog, cash generation, outlook updates, dividend actions and board composition. Completed acquisition activity includes Mega Corp., a manufacturer of specialty vehicles and equipment for global metal extraction and construction markets, which adds to Federal Signal's specialty vehicle platform.
Federal Signal (NYSE:FSS) reported impressive first quarter results, including double-digit sales and earnings growth, with net sales of $425 million, a 10% increase from last year. Operating income rose by 37% to $54.3 million. GAAP EPS increased by 87% to $0.84, while adjusted EPS grew by 39% to $0.64. The company set new records with orders reaching $503 million and backlog at $1.10 billion. Operating cash flow surged by 341% to $31 million. The adjusted EPS outlook was raised to $2.95 to $3.15 for 2024.
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