Federal Signal Q2 Profit Beats Estimates

(RTTNews) - Federal Signal Corp. (FSS) reported adjusted net income for the second quarter of $32.2 million, or $0.53 per share, compared to $30.6 million, or $0.50 per share, last year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.47, for the quarter. Analysts' estimates typically exclude special items.

Net income for the second quarter was $33.5 million, or $0.55 per share, up from $29.7 million, or $0.48 per share, last year.

Consolidated net sales were $367 million, up 10%, compared to the prior-year quarter. Analysts on average had estimated $364.8 million in revenue.

The company increased the mid-point of full-year adjusted EPS outlook by establishing a new range of $1.85 to $2.00, updated from the previous range of $1.80 to $2.00.