Federal Signal Corp Q3 Profit Increases, Beats Estimates

(RTTNews) - Federal Signal Corp (FSS) released a profit for its third quarter that Increased from last year and beat the Street estimates.

The company's bottom line totaled $68.1 million, or $1.11 per share. This compares with $53.9 million, or $0.87 per share, last year.

Excluding items, Federal Signal Corp reported adjusted earnings of $69.7 million or $1.14 per share for the period.

Analysts on average had expected the company to earn $1.08 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 17.0% to $555 million from $474.2 million last year.

Federal Signal Corp earnings at a glance (GAAP) :

-Earnings: $68.1 Mln. vs. $53.9 Mln. last year. -EPS: $1.11 vs. $0.87 last year. -Revenue: $555 Mln vs. $474.2 Mln last year.

Looking ahead, for the full year, citing strong demand and third-quarter performance, the company has revised up its outlook.

Excluding items, Federal Signal now expects earnings of $4.09 to $4.17 per share, higher than the prior outlook of $3.92 to $4.10 per share.

The company now projects sales of $2.10 billion to $2.14 billion against the earlier guidance of $2.07 billion to $2.13 billion.

Analysts, on average, forecast the firm to earn $4.03 per share, on revenue of $2.11 billion for the year.

FSS was up by 2.35% at $132.81 in the pre-market trade on the New York Stock Exchange.