Federal Signal Raises Full-Year Outlook after Record Second Quarter

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Oak Brook, Illinois, July 31, 2019 — Federal Signal Corporation (NYSE:FSS), a leader in environmental and safety solutions, today reported results for the second quarter ended June 30, 2019.

• Net sales of $324 million, up $33 million, or 11%, from last year

• Operating income of $46.3 million, up $8.2 million, or 22%, from last year

• GAAP EPS of $0.54, up $0.10, or 23%, from last year

• Adjusted EPS of $0.55, up $0.11, or 25%, from last year

• Executed new five-year $500 million revolving credit facility

• Raising full-year adjusted EPS* outlook to a new range of $1.64 to $1.72, from the previous range of $1.50 to $1.60

Consolidated net sales for the second quarter were $324.3 million, a record for the Company, and up $33.3 million, or 11%, versus the same quarter a year ago. Net income for the second quarter was $32.8 million, equal to $0.54 per diluted share, compared to $26.9 million, equal to $0.44 per share, in the prior-year quarter.

The Company also reported adjusted net income for the second quarter of $33.6 million, equal to $0.55 per diluted share, another Company record, and up from $27.1 million, or $0.44 per diluted share, in the second quarter of last year. The Company is reporting adjusted results to facilitate comparisons of underlying performance on a year-over-year basis. A reconciliation of these and other non-GAAP measures is provided at the conclusion of this news release.

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