FEDERAL SIGNAL CORP /DE/ (FSS) Company Report

Federal Signal Corporation (FSS) completed the acquisition of Mega Corp. on January 16, 2026.
Mega Corp. is a leading manufacturer of specialty vehicles and equipment for use in global metal extraction and construction markets.
The acquisition is expected to be accretive to earnings and cash flow in 2026.
This acquisition enhances Federal Signal's depth in the global metal extraction support equipment market and strengthens its specialty vehicle platform.

4 days ago

8-K

Federal Signal Completes Mega Corp. Acquisition

FSS

M&A

New Projects/Investments

Federal Signal Corporation completed the acquisition of Mega Corp. on January 16, 2026.
Mega Corp. is a leading manufacturer of specialty vehicles and equipment for global metal extraction and construction markets.
The acquisition is expected to be accretive to earnings and cash flow in 2026.
This strategic move strengthens Federal Signal's specialty vehicle platform and enhances its depth in the global metal extraction support equipment market.

4 days ago

Press Release

Federal Signal Corporation Updates Financial Outlook and Highlights Strategic Acquisitions

FSS

Guidance Update

M&A

Federal Signal Corporation raised its full-year 2025 Adjusted EPS outlook to a new range of $4.12 to $4.20 and its Net Sales outlook to a new range of $2.12 billion to $2.16 billion, as of November 26, 2025.
The company reported LTM (Q3 2025) Net Sales of $2,055 million and Adjusted EBITDA of $409 million, achieving an Adjusted EBITDA Margin of 19.9%.
Recent strategic acquisitions include Hog Technologies (February 2025) and New Way Trucks (November 2025), with New Way Trucks anticipated to be EPS accretive by $0.40 to $0.45 in 2028.
Federal Signal maintains a 5-year average cash conversion of 106% (2020-2024) and a Q3 2025 LTM Net Debt Leverage of 0.4x.

6 days ago

8-K

Federal Signal to Acquire Mega Corp.

FSS

M&A

New Projects/Investments

Federal Signal Corporation (FSS) announced the signing of a definitive agreement to acquire Mega Corp., a manufacturer of specialty vehicles and equipment for global metal extraction and construction markets.
The acquisition is for $45.5 million in cash consideration, subject to post-closing adjustments, and is anticipated to close during the first quarter of 2026.
Mega Corp. generated net sales of approximately $40 million for the year ended December 31, 2024, with 30% of those sales from aftermarket parts.
The transaction is expected to be accretive to earnings and cash flow in 2026.

Dec 18, 2025, 7:19 PM

8-K

Federal Signal to Acquire Mega Corp.

FSS

M&A

New Projects/Investments

Federal Signal Corporation (FSS) has signed a definitive agreement to acquire Mega Corp. for $45.5 million in cash, subject to post-closing adjustments.
Mega Corp., a manufacturer of specialty vehicles and equipment for global metal extraction and construction markets, generated approximately $40 million in net sales for the year ended December 31, 2024, with aftermarket parts representing approximately 30% of net sales.
The acquisition is expected to enhance Federal Signal's depth in the global metal extraction support equipment market and is anticipated to be accretive to earnings and cash flow in 2026.
The transaction is expected to close during the first quarter of 2026.

Dec 18, 2025, 1:00 PM

Press Release

Federal Signal Corporation Completes New Way Trucks Acquisition and Raises 2025 Outlook

FSS

M&A

Guidance Update

New Projects/Investments

Federal Signal Corporation completed the acquisition of New Way Trucks on November 25, 2025, for an initial purchase price of $396 million, plus an additional $30 million for associated real estate.
Following the acquisition, the company raised its full-year 2025 net sales outlook to between $2.12 billion and $2.16 billion and its adjusted EPS outlook to between $4.12 and $4.20.
The acquisition is projected to be neutral to adjusted EPS in 2026 and accretive in subsequent years, with an anticipated EPS accretion of $0.40 to $0.45 in 2028.

Dec 1, 2025, 8:41 PM

8-K

Federal Signal Completes New Way Trucks Acquisition, Raises 2025 Outlook

FSS

M&A

Guidance Update

New Projects/Investments

Federal Signal Corporation completed the acquisition of New Way Trucks on November 26, 2025, integrating the refuse collection vehicle manufacturer into its Environmental Solutions Group.
Following the acquisition, the company raised its full-year 2025 net sales outlook to a new range of $2.12 billion to $2.16 billion and its adjusted EPS outlook to $4.12 to $4.20.
The acquisition is projected to be neutral to adjusted EPS in 2025 and 2026, becoming accretive in subsequent years with an anticipated $0.40 to $0.45 EPS accretion in 2028.
New Way Trucks has a current backlog exceeding $100 million, providing visibility into the first half of 2026.

Nov 26, 2025, 1:00 PM

Press Release

Federal Signal Corporation Reports Strong Q3 2025 Results and Raises Full-Year Outlook

FSS

Earnings

Guidance Update

M&A

Federal Signal Corporation reported strong Q3 2025 financial results, including consolidated net sales of $555 million, a 17% year-over-year increase, and Adjusted EPS of $1.14 per share, up 30%.
The company raised its full-year 2025 outlook, with Adjusted EPS now expected between $4.09 and $4.17 and net sales between $2.1 billion and $2.14 billion.
A new $1.5 billion credit facility was executed to enhance financial flexibility, and the acquisition of New Way is anticipated to close in Q4 2025.
HOG Technologies contributed approximately $20 million in net sales for the quarter, with its expected 2025 net sales contribution raised to $60 million-$65 million.
Order intake increased by 10% year-over-year to $467 million, though backlog decreased 4% primarily due to the planned transition from third-party refuse trucks.

Oct 30, 2025, 2:00 PM

Transcript

Federal Signal Reports Strong Q3 2025 Results and Strategic Updates

FSS

Earnings

M&A

Guidance Update

Federal Signal (FSS) reported strong Q3 2025 financial performance, with net sales increasing 17% to $555.0 million and adjusted diluted EPS rising 30% to $1.14 compared to Q3 2024.
The company achieved record Q3 orders of $467 million, up 10% year-over-year, resulting in a backlog of $992 million that provides visibility into 2026.
FSS demonstrated financial strength by generating ~$61 million in cash from operations in Q3 2025 and securing a new five-year, $1.5 billion credit agreement in October 2025.
The acquisition of New Way for an initial consideration of $396 million was agreed upon in September 2025 and is expected to close in Q4 2025.
The company also updated its FY25 net sales contribution expectation for Hog Technologies to $60-$65 million, an increase from the previous $50-$55 million.

Oct 30, 2025, 2:00 PM

Presentation

Federal Signal Corporation Reports Strong Q3 2025 Results and Raises Full-Year Guidance

FSS

Earnings

Guidance Update

M&A

Federal Signal Corporation (FSS) reported strong Q3 2025 financial results, with net sales growing 17% year-over-year to $555 million and adjusted EPS increasing 30% to $1.14 per share. Consolidated adjusted EBITDA rose 25% to $116.2 million, achieving a 20.9% margin.
Order intake reached a record $467 million for a third quarter, up 10% year-over-year, while the backlog was $992 million, down 4% from Q3 last year, largely due to the planned transition away from third-party refuse trucks.
The company raised its full-year 2025 adjusted EPS outlook to $4.09 to $4.17 and its net sales outlook to $2.1 billion to $2.14 billion. This guidance excludes any contribution from the pending New Way acquisition.
Federal Signal executed a new five-year $1.5 billion credit facility to support growth and the New Way acquisition, which is expected to close in Q4 2025. The recent HOG Technologies acquisition is now projected to contribute $60 million to $65 million in net sales for 2025.