Federal Signal (FSS) Tops Q1 EPS by 4c
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Federal Signal (NYSE: FSS) reported Q1 EPS of $0.38, $0.04 better than the analyst estimate of $0.34. Revenue for the quarter came in at $278.8 million versus the consensus estimate of $279.07 million.
"Orders thus far this year have exceeded our expectations, fueled by a combination of new product launches, ongoing execution against strategic initiatives and strong recovery in end markets," noted Sherman. "With certain chassis manufacturers temporarily impacted by the global semiconductor shortage, we are currently encountering some short-term production challenges at our largest facility. Our teams are working diligently to navigate through the disruption, as they have in the past when faced with similar situations. After factoring in the impact expected over the next couple of months, at this time we are maintaining our adjusted EPS* outlook for the year of $1.73 to $1.85. With our recently-completed capacity expansions at several facilities, we are well positioned once the current chassis uncertainty eases. Demand for our products is at an all-time high, with the recent federal stimulus and the possibility of infrastructure investment offering potential for further momentum, which we have not factored into our current outlook."
For earnings history and earnings-related data on Federal Signal (FSS) click here.
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