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.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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