$FSS

FEDERAL SIGNAL CORP /DE/

CIK:0000277509|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 670.2	$ 564.6	$ 1,295.8	$ 1,028.4
Cost of sales	466.4	395.0	912.6	728.0
Gross profit	203.8	169.6	383.2	300.4
Selling, engineering, general and administrative expenses	78.3	66.9	150.3	127.1
Amortization expense	6.6	4.5	13.1	8.8
Acquisition and integration-related expenses, net	0.7	0.5	1.9	1.1
Operating income	118.2	97.7	217.9	163.4
Interest expense, net	6.0	3.5	12.9	6.5
Other expense, net	0.8	0.8	1.4	1.5
Income before income taxes	111.4	93.4	203.6	155.4
Income tax expense	25.3	22.0	47.1	37.7
Net income	$ 86.1	$ 71.4	$ 156.5	$ 117.7
Basic earnings per share:
Earnings per share (usd per share)	$ 1.41	$ 1.18	$ 2.57	$ 1.93
Diluted earnings per share:
Earnings per share (usd per share)	$ 1.40	$ 1.16	$ 2.54	$ 1.91
Weighted average common shares outstanding:
Basic (shares)	60.9	60.6	60.9	60.9
Diluted (shares)	61.5	61.3	61.5	61.6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 156.5	$ 117.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48.4	38.6
Stock-based compensation expense	8.1	8.1
Changes in fair value of contingent consideration	0.4	0.0
Payments for acquisition-related activity	(3.5)	(0.1)
Deferred income taxes	6.0	0.2
Changes in operating assets and liabilities	(1.7)	(68.1)
Net cash provided by operating activities	214.2	96.4
Investing activities:
Purchases of properties and equipment	(18.6)	(12.9)
Payments for acquisition-related activity, net of cash acquired	(44.9)	(82.1)
Other, net	1.4	0.7
Net cash used for investing activities	(62.1)	(94.3)
Financing activities:
(Decrease) increase in revolving lines of credit, net	(109.8)	55.0
Payments on long-term borrowings	0.0	(1.6)
Purchases of treasury stock	(0.1)	(39.7)
Redemptions of common stock to satisfy withholding taxes related to stock-based compensation	(13.5)	(11.4)
Payments for acquisition-related activity	(11.5)	(4.3)
Cash dividends paid to stockholders	(18.3)	(17.1)
Proceeds from stock-based compensation activity	0.5	1.1
Other, net	(0.2)	(11.8)
Net cash used for financing activities	(152.9)	(29.8)
Effects of foreign exchange rate changes on cash and cash equivalents	(0.1)	1.3
Decrease in cash and cash equivalents	(0.9)	(26.4)
Cash and cash equivalents at beginning of year	63.7	91.1
Cash and cash equivalents at end of period	$ 62.8	$ 64.7

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 62.8	$ 63.7
Accounts receivable, net of allowances for doubtful accounts of $2.8 and $2.8, respectively	288.8	292.2
Inventories	479.8	471.6
Prepaid expenses and other current assets	25.5	26.3
Total current assets	856.9	853.8
Properties and equipment, net of accumulated depreciation of $219.4 and $208.0, respectively	289.6	274.6
Rental equipment, net of accumulated depreciation of $73.5 and $69.2, respectively	210.0	202.7
Operating lease right-of-use assets	30.8	28.4
Goodwill	636.8	619.8
Intangible assets, net of accumulated amortization of $116.8 and $104.2, respectively	386.9	382.9
Deferred tax assets	9.8	10.1
Deferred charges and other long-term assets	19.2	20.3
Total assets	2,440.0	2,392.6
Liabilities, Current [Abstract]
Long-Term Debt and Lease Obligation, Current	5.4	0.5
Accounts Payable, Current	114.6	98.0
Contract with Customer, Liability, Current	57.7	47.7
Accrued Liabilities, Current [Abstract]
Employee-related Liabilities, Current	47.0	52.3
Operating Lease, Liability, Current	8.6	7.9
Contingent Consideration Liability, Current	4.3	15.0
Other Accrued Liabilities, Current	75.3	61.0
Liabilities, Current, Total	312.9	282.4
Long-Term Debt and Lease Obligation	448.2	564.6
Operating Lease, Liability, Noncurrent	23.6	21.6
Liability, Defined Benefit Plan, Noncurrent	44.4	43.1
Deferred Income Tax Liabilities, Net	77.8	71.9
Other Liabilities, Noncurrent	25.5	27.0
Liabilities, Total	932.4	1,010.6
Equity, Attributable to Parent [Abstract]
Common stock, $1 par value per share, 90.0 shares authorized, 71.1 and 70.8 shares issued, respectively	71.1	70.8
Capital in excess of par value	340.7	330.4
Retained earnings	1,453.5	1,315.3
Treasury stock, at cost, 10.0 and 9.9 shares, respectively	(279.1)	(263.5)
Accumulated other comprehensive loss	(78.6)	(71.0)
Total stockholders’ equity	1,507.6	1,382.0
Liabilities and Equity, Total	$ 2,440.0	$ 2,392.6