Downers Grove, Illinois, October 30, 2025 — Federal Signal Corporation (NYSE:FSS) (the “Company”), a leader in environmental and safety solutions, today reported financial results for the third quarter ended September 30, 2025.

Third Quarter Highlights

• Net sales of $555 million, up $81 million, or 17%, from last year; organic growth of $51 million, or 11%
• Operating income of $94.0 million, up $18.1 million, or 24%, from last year
• GAAP Diluted EPS of $1.11, up $0.24, or 28%, from last year
• Adjusted EPS of $1.14, up $0.26, or 30%, from last year
• Orders of $467 million, up $41 million, or 10%, from last year
• Raises 2025 adjusted EPS* outlook to a new range of $4.09 to $4.17, from the prior range of $3.92 to $4.10
• Raises 2025 net sales outlook to a new range of between $2.10 billion and $2.14 billion, from the prior range of $2.07 billion to $2.13 billion
• Recently executed new, five-year $1.5 billion credit facility

Consolidated net sales for the third quarter were $555 million, an increase of $81 million, or 17%, compared to the prior-year quarter. Net income for the third quarter was $68.1 million, or $1.11 per diluted share, compared to $53.9 million, or $0.87 per diluted share, in the prior-year quarter.

The Company also reported adjusted net income for the third quarter of $69.7 million, or $1.14 per diluted share, compared to $54.2 million, or $0.88 per diluted share, in the prior-year quarter. 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.

Double-Digit Year-over-Year Growth in Net Sales and Operating Income

“Our businesses were able to deliver 17% year-over-year net sales growth, double-digit operating income improvement, and a 130-basis point increase in adjusted EBITDA margin during the third quarter,” commented Jennifer L. Sherman, President and Chief Executive Officer. “Within our Environmental Solutions Group, we delivered 17% year-over-year net sales growth and a 20% increase in adjusted EBITDA. Production increases at several of our businesses, higher sales of our aftermarket offerings, proactive management of price/cost dynamics, and contributions from recent acquisitions were meaningful year-over-year growth drivers. Our Safety and Security Systems Group also delivered impressive results, with 18% top-line growth and an adjusted EBITDA margin of 26%.”

In the Environmental Solutions Group, net sales for the third quarter were $466 million, up $67 million, or 17%, compared to the prior-year quarter. In the Safety and Security Systems Group, net sales were $90 million, up $14 million, or 18%, compared to the prior-year quarter.

Consolidated operating income for the third quarter was $94.0 million, up $18.1 million, or 24%, compared to the prior-year quarter. Consolidated operating margin for the third quarter was 16.9%, up from 16.0% in the prior-year quarter.

Consolidated adjusted earnings before interest, tax, depreciation and amortization (“adjusted EBITDA”) for the third quarter was $116.2 million, up $23.2 million, or 25%, compared to the prior-year quarter, and consolidated adjusted EBITDA margin was 20.9%, up from 19.6% in the prior-year quarter.

In the Environmental Solutions Group, adjusted EBITDA for the third quarter was $104.9 million, up $17.7 million, or 20%, compared to the prior-year quarter, and its adjusted EBITDA margin was 22.5%, up from 21.9% last year. In the Safety and Security Systems Group, adjusted EBITDA for the third quarter was $22.9 million, up $5.1 million, or 29%, compared to the prior-year quarter, and its adjusted EBITDA margin was 25.6%, up from 23.4% last year.

Consolidated orders for the third quarter were $467 million, an increase of $41 million, or 10%, compared to the prior-year quarter. Consolidated backlog at September 30, 2025 was $992 million, compared to $1.03 billion in the prior-year quarter.

New Credit Facility Further Strengthens Financial Position, Providing Additional Financial Flexibility to Fund Growth Opportunities

Net cash provided by operating activities during the third quarter was $61 million, bringing the total year-to-date operating cash generation to $158 million, an increase of $17 million, or 12%, compared to the prior-year period.

At September 30, 2025, consolidated debt was $213 million, total cash and cash equivalents were $54 million, and the Company had $570 million of availability for borrowings under its previous credit facility.

On September 24, 2025, the Company entered into a definitive agreement to acquire all of the outstanding equity interests of Scranton Manufacturing Company Inc. (“New Way”), a leading U.S.-based designer and manufacturer of refuse collection vehicles, for initial consideration of $396 million. As part of the acquisition, the Company will also pay additional consideration of $30 million for New Way’s manufacturing facilities and associated real estate rights in Iowa and Mississippi. The Company currently expects to complete the transaction during the fourth quarter of 2025, subject to regulatory approval and customary closing conditions.

On October 29, 2025, the Company entered into the Fourth Amended and Restated Credit Agreement (the “2025 Credit

Agreement”), which amends and restates the 2022 Credit Agreement. The 2025 Credit Agreement increases the Company’s

revolving credit facility from up to $675 million to up to $1.1 billion, and includes a delayed draw term loan facility in an amount of up to $400 million.

“With the increase in borrowing capacity under our new credit facility, low net debt leverage, and our healthy cash generation, we have significant financial flexibility to invest in organic growth initiatives and pursue strategic acquisitions, like New Way,” said Sherman. “We also remain committed to returning cash to stockholders through dividends and opportunistic stock repurchases.”

The Company funded dividends of $8.5 million during the third quarter, reflecting a dividend of $0.14 per share, and recently announced a similar $0.14 per share dividend that will be payable in the fourth quarter of 2025.

Outlook

“Demand for our products and our aftermarket offerings remains strong,” noted Sherman. “With our third quarter performance, our current backlog, and continued execution against our strategic initiatives, we are raising our full-year adjusted EPS* outlook to a new range of $4.09 to $4.17, from the prior range of $3.92 to $4.10. We are also increasing our full-year net sales outlook to a new range of between $2.10 billion and $2.14 billion, from the prior range of $2.07 billion to $2.13 billion.”

CONFERENCE CALL

Federal Signal will host its third quarter conference call on Thursday, October 30, 2025 at 10:00 a.m. Eastern Time. The call will last approximately one hour. The call may be accessed over the internet through Federal Signal’s website at www.federalsignal.com or by dialing phone number 1-877-704-4453 and entering the pin number 13756653. A replay will be available on Federal Signal’s website shortly after the call.

About Federal Signal

Federal Signal Corporation (NYSE: FSS) builds and delivers equipment of unmatched quality that moves material, cleans infrastructure, and protects the communities where we work and live. Founded in 1901, Federal Signal is a leading global designer, manufacturer and supplier of products and total solutions that serve municipal, governmental, industrial, and commercial customers. Headquartered in Downers Grove, Ill., with manufacturing facilities worldwide, the Company operates two groups: Environmental Solutions and Safety and Security Systems. For more information on Federal Signal, visit: www.federalsignal.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

This release contains unaudited financial information and various forward-looking statements as of the date hereof and we undertake no obligation to update these forward-looking statements regardless of new developments or otherwise. Statements in this release that are not historical are forward-looking statements. Forward looking statements should not be relied upon as a predictor of actual results. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include but are not limited to: our ability to successfully close and implement the acquisition of New Way, our ability to achieve anticipated revenue and cost benefits associated with the New Way acquisition, economic and political uncertainty, risks and adverse economic effects associated with geopolitical conflicts including tariffs and other trade conflicts, legal and regulatory developments, foreign currency exchange rate changes, inflationary pressures, product and price competition, supply chain disruptions, availability and pricing of raw materials, interest rate changes, risks associated with acquisitions such as integration of operations and achieving anticipated revenue and cost benefits, work stoppages, increases in pension funding requirements, cybersecurity risks, increased legal expenses and litigation results and other risks and uncertainties described in filings with the Securities and Exchange Commission.

Contact: Ian Hudson, Chief Financial Officer, +1-630-954-2000, ihudson@federalsignal.com

* Adjusted earnings per share (“EPS”) is a non-GAAP measure, which includes certain adjustments to reported GAAP net income and diluted EPS. In the three and nine months ended September 30, 2025 and 2024, we made adjustments to exclude the impact of acquisition and integration-related expenses, net, purchase accounting effects, and certain special income tax items, where applicable. In prior years, we have also made adjustments to exclude the impact of environmental remediation costs of a discontinued operation, pension-related charges, debt settlement charges, and certain other unusual or non-recurring items. Should any similar items occur in the remainder of 2025, we would expect to exclude them from the determination of adjusted EPS. However, because of the underlying uncertainty in quantifying amounts which may not yet be known, a reconciliation of our Adjusted EPS outlook to the most applicable GAAP measure is excluded based on the unreasonable efforts exception in Item 10(e)(1)(i)(B).

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