By Kelly Cloonan
Shares of Federal Signal climbed after the company reported first-quarter profit and sales above Wall Street expectations and raised its outlook for the full year.
The stock rose 7% to $80.88 on Wednesday. Shares have traded flat over the past 12 months.
The equipment manufacturer posted a profit of $46.3 million, or 75 cents a share, for the first quarter, compared with $51.6 million, or 84 cents a share, a year earlier.
Adjusted earnings per share were 76 cents, ahead of estimates for 73 cents a share according to analysts polled by FactSet.
Sales rose to $463.8 million from $424.9 million a year ago. Analysts expected $462.6 million.
Chief Executive Jennifer Sherman said demand for Federal Signal's products and aftermarket offerings remain strong, with both orders and backlog setting company records during the quarter.
For the full year, the company guided for adjusted earnings per share of $3.63 to $3.90, raising the bottom end of its previous outlook of $3.60 to $3.90. The company maintained its full-year sales outlook of $2.02 billion to $2.1 billion.
Sherman said the company's record backlog provides visibility into the rest of the year despite global macroeconomic uncertainty. Federal Signal maintains a predominantly North American-centric supply base, she added.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 30, 2025 15:32 ET (19:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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