Federal Signal (FSS) Tops Q4 EPS by 6c, Offers Guidance

Federal Signal (NYSE: FSS) reported Q4 EPS of $0.48, $0.06 better than the analyst estimate of $0.42. Revenue for the quarter came in at $314 million versus the consensus estimate of $308.74 million.

GUIDANCE:

Federal Signal sees FY2020 EPS of $1.84-$1.94, versus the consensus of $1.89.

• "Solid execution drove another record year for Federal Signal, with both groups reporting growth in sales and earnings, and adjusted EBITDA margins at or above the high end of our target ranges. On a consolidated basis, our adjusted EPS increased by 27% in comparison to the previous record established last year," Sherman continued. "We entered 2020 with a record backlog that is 15% higher than a year ago. In addition, conditions in most of our end markets remain healthy and we continue to gain traction with our strategic initiatives. Although seasonal effects typically result in our first quarter earnings being lower than subsequent quarters, we are anticipating year-over-year growth, with earnings in the first quarter of 2020 expected to represent a similar percentage of our full-year outlook as in 2019. For the full-year, we are projecting top-line growth and double-digit improvement in pre-tax earnings over a record 2019. In addition, the normalization of our 2020 tax rate to a range of 25% to 26% will represent a year-over-year EPS headwind of up to $0.09. With that, we expect adjusted EPS* for the year to be within a range of $1.84 and $1.94."

For earnings history and earnings-related data on Federal Signal (FSS) click here.

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