Sam Carlos (on behalf of Ross Sparenblek)'s questions to Federal Signal Corp (FSS) leadership • Q4 2024
Question
Sam Carlos, on behalf of Ross Sparenblek, questioned the risk of market share loss from extended lead times, sought clarification on the higher 2025 CapEx guidance, and asked about the growth rate of the recently acquired HOG Technologies.
Answer
President and CEO Jennifer Sherman addressed lead time concerns by highlighting tools like rentals and used equipment to retain customers, noting the non-impulsive nature of municipal purchases. CFO Ian Hudson clarified the higher CapEx guidance includes a capacity expansion investment for the mineral extraction business (Ground Force and TowHaul). Both executives confirmed that HOG Technologies had experienced strong growth similar to Federal Signal's existing road marking business.