Federal Signal Q1 Net Income Rises; Increases 2024 Adj. EPS Outlook

(RTTNews) - Federal Signal (FSS) reported first quarter net income of $51.6 million, or $0.84 per share, compared to $27.4 million, or $0.45 per share, a year ago. Adjusted EPS was $0.64, up 39%, from last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.56, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $425 million, up 10%, from last year; organic growth was 7%, for the quarter. Analysts on average had estimated $425.61 million in revenue.

Federal Signal said it is raising full-year adjusted EPS outlook to a new range of $2.95 to $3.15, from the prior range of $2.85 to $3.05. The company also reaffirmed full-year net sales outlook of between $1.85 billion and $1.90 billion.

Shares of Federal Signal are down 5% in pre-market trade on Tuesday.

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