Federal Signal ( (FSS) ) has released its Q3 earnings. Here is a breakdown of the information Federal Signal presented to its investors.
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Federal Signal Corporation, a prominent global designer and manufacturer in the environmental and safety solutions industry, recently announced its third-quarter financial results for 2024. The company, known for serving municipal, governmental, industrial, and commercial customers, operates through its Environmental Solutions and Safety and Security Systems groups.
The latest earnings report highlighted a 6% organic net sales growth, with net sales reaching $474 million for the quarter. Federal Signal also reported a significant 21% increase in operating income and a 23% rise in GAAP diluted earnings per share. The company further raised its full-year earnings outlook and EBITDA margin targets for its Safety and Security Systems Group.
Key financial metrics indicate strong performance across the board. The Environmental Solutions Group saw a 7% increase in net sales, contributing to a 21% rise in adjusted EBITDA. Similarly, the Safety and Security Systems Group achieved a 4% increase in sales and a notable 22% growth in adjusted EBITDA. Overall, the company’s consolidated adjusted EBITDA margin improved to 19.6% from 17.6% in the previous year.
Looking ahead, Federal Signal remains optimistic about its growth prospects. With a robust backlog of $1.03 billion and continued high demand for its products, the company has increased its full-year adjusted EPS outlook and narrowed its net sales forecast. These strategic moves position Federal Signal to capitalize on future opportunities and enhance shareholder value.
