Federal Signal Corporation · NYSE:FSS
Federal Signal — Q3 2026 Earnings Presentation
18 slides from Federal Signal's earnings presentation, Oct 29, 2026
Slide 1: Federal Signal Q3 2026 Earnings Call
Federal Signal Q3 2026 Earnings Call October 29, 2026 Jennifer Sherman, President & Chief Executive Officer Ian Hudson, SVP, Chief Financial Officer Felix Boeschen, VP, Corporate Strategy & Investor Relations
Slide 2: Safe Harbor
Safe Harbor This presentation 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 presentation that are not his
Slide 3: Q3 Highlights
Q3 Highlights ** • Net sales of $656 M, up $101 M, or 18% • Operating income of $111.4 M, up $17.4 M, or 19% • Net income of $79.6 M, up $11.5 M, or 17% • Adjusted EBITDA* of $140.4 M, up $24.2 M, or 21% • Adjusted EBITDA margin* of 21.4%, vs. 20.9% • GAAP diluted EPS of $1.29, up $0.18, or 16% • Ad
Slide 4: Group and Corporate Results
Group and Corporate Results $ millions, except % Q3 2026 Q3 2025 % Change ESG Orders $ 529.7 $ 371.1 43% Net sales 563.8 465.5 21% Operating income 101.4 85.3 19% Operating margin 18.0% 18.3% Adjusted EBITDA* 126.4 104.9 20% Adjusted EBITDA margin* 22.4% 22.5% SSG Orders 90.4 95.8 -6% Net sales 91.7
Slide 5: Consolidated Statement of Operations
Consolidated Statement of Operations $ millions, except % and per share Q3 2026 Q3 2025 $ Change % Change Net sales $ 655.5 $ 555.0 $ 100.5 18% Cost of sales 466.3 393.5 72.8 19% Gross profit 189.2 161.5 27.7 17% SEG&A expenses 69.8 61.4 8.4 14% Amortization expense 6.8 4.5 2.3 51% Acquisition and i
Slide 6: Adjusted Earnings per Share
Adjusted Earnings per Share * ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net income, as reported $ 79.6 $ 68.1 $ 236.1 $ 185.8 Add: Income tax expense 25.5 22.4 72.6 60.1 Income before income taxes 105.1 90.5 308.7 245.9 Add: Acquisition and
Slide 7: Financial Strength and Flexibility
Financial Strength and Flexibility * • Cash and cash equivalents of ~$74 M • Net debt of ~$347 M ** • In Q4 2025, executed new five-year, $1.5 B credit agreement, represented by a $1.1 B revolving credit facility and a $400 M delayed draw term loan, with Strong capital opportunity to increase furthe
Slide 8: CEO Remarks – Q3 Performance
CEO Remarks – Q3 Performance** • Strong execution by both groups contributed to a record-setting Q3 across net sales, adjusted EPS*, adjusted EBITDA*, adjusted EBITDA margin*, and orders • Environmental Solutions Group highlights: YoY net sales growth of 21%; 20% increase in adjusted EBITDA* Adj
Slide 9: CEO Remarks – Market Conditions
CEO Remarks – Market Conditions * ($ in millions) Consolidated Q3:25 Q4:25 Q1:26 Q2:26 Q3:26 Reported Net Sales $ 555.0 $ 597.1 $ 625.6 $ 670.2 $ 655.5 Less: Third-Party (Labrie) Refuse Truck Net Sales $ 18.6 $ 24.4 $ 26.2 $ 13.0 $ 11.7 Pro-Forma Net Sales $ 536.4 $ 572.7 $ 599.4 $ 657.2 $ 643.8 Con
Slide 10: CEO Remarks – Update on Multi-Year Growth Strategy
CEO Remarks – Update on Multi-Year Growth Strategy Execution on Multi-Year Growth Strategy • Through economic cycles, we target low double-digit annual top- line growth, split roughly equally between inorganic and organic growth • We have implemented annual through-cycle EBITDA margin targets for ea
Slide 11: Raising 2026 Financial Outlook
Raising 2026 Financial Outlook • Raising Full-Year Adjusted EPS1 Outlook to a new range of $5.20 to $5.32 • Increased from the prior range of $5.12 to $5.30 • At the midpoint, new range would represent another year of double-digit growth, and the highest EPS level in our history • Narrowing Full-yea
Slide 12: Federal Signal Q3 2026 Earnings Call Q&A
Federal Signal Q3 2026 Earnings Call Q&A October 29, 2026 Jennifer Sherman, President & Chief Executive Officer Ian Hudson, SVP, Chief Financial Officer Felix Boeschen, VP, Corporate Strategy & Investor Relations 12
Slide 13: Investor Information
Investor Information Stock Ticker - NYSE:FSS Company website: federalsignal.com/investors HEADQUARTERS 1333 Butterfield Road, Suite 500 Downers Grove, IL 60515 INVESTOR RELATIONS CONTACTS 630-954-2000 Felix Boeschen VP, Corporate Strategy and Investor Relations fboeschen@federalsignal.com 13
Slide 14: Appendix
Federal Signal Q3 2026 Earnings Call Appendix 14
Slide 15: Non-GAAP Measures
Non-GAAP Measures • Adjusted net income and earnings per share (“EPS”) - The Company believes that modifying its 2026 and 2025 net income and diluted EPS provides additional measures to assist it in comparing its performance on a consistent basis for purposes of business decision making by removing
Slide 16: Consolidated Adjusted EBITDA
Consolidated Adjusted EBITDA $ millions, except % Q3 2026 Q3 2025 Net income $ 79.6 $ 68.1 Add: Interest expense, net 5.3 2.8 Acquisition and integration-related expenses, net 1.2 1.6 Charges associated with previously discontinued operations 2.1 - Purchase accounting effects (1) 0.4 0.3 Other expen
Slide 17: Segment Adjusted EBITDA
Segment Adjusted EBITDA ESG $ millions, except % Q3 2026 Q3 2025 Operating Income $ 101.4 $ 85.3 Add: Acquisition and integration-related expenses, net 0.6 0.2 Purchase accounting effects (1) 0.4 0.3 Depreciation and amortization 24.0 19.1 Adjusted EBITDA $ 126.4 $ 104.9 Net Sales $ 563.8 $ 465.5 Ad
Slide 18: Federal Signal – Moves. Cleans. Protects.
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