Federal Signal Boosts FY24 Adj. EPS Outlook As Q2 Results Top Estimates
(RTTNews) - While reporting financial results for the second quarter on Thursday, Federal Signal Corp. (FSS) raised its adjusted earnings guidance for the full year 2024, while reaffirming annual net sales outlook.
For fiscal 2024, the company now projects adjusted earnings in a range of $3.20 to $3.35 per share, up from the prior forecast range of $2.95 to $3.15 per share. The company also reaffirmed its net sales guidance between $1.85 billion and $1.90 billion.
On average, six analysts polled by Thomson Reuters expect the company to report earnings of $3.08 per share on revenues of $1.87 billion for the year. Analysts' estimates typically exclude special items.
For the second quarter, the company reported net income of $60.8 million or $0.99 per share, up from $40.3 million or $0.66 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.95 per share, compared to $0.67 per share last year.
Net sales for the quarter grew 11 percent to $490.4 million from $442.4 million in the same quarter last year.
The Street was looking for earnings of $0.84 per share on net sales of $486.19 million for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Federal Signal Guides FY23 Revenues Above View; Q4 Results Top Estimates
Swiss Market Settles Slightly Down
European Stocks Close On Mixed Note After Central Bank Decisions, Earnings Deluge
ECB Holds Interest Rates Steady Amid Uncertain Outlook
Eurozone GDP Growth Beats Expectations
Bay Street Likely To Open Weak
German Economy Stagnates On Weaker Exports; Unemployment Falls
