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FEDERAL SIGNAL Moves . Cleans . Protects . EXHIBIT 99.1 1415 West 22nd Street Oak Brook , Illinois 60523 630.954.2000 federalsignal.com FOR IMMEDIATE RELEASE Federal Signal Raises Full - Year Outlook After Reporting 79 % Increase in Orders and Record Backlog in Strong Second Quarter ; Expecting Long - Term Benefits From Infrastructure Legislation Oak Brook , Illinois , July 29 , 2021 - Federal Signal Corporation ( NYSE : FSS ) ( the " Company " ) , a leader in environmental and safety solutions , today reported results for the second quarter ended June 30 , 2021 . Second Quarter Highlights • Net sales of $ 335 million , up $ 65 million , or 24 % , from last year • Operating income of $ 38.5 million , up $ 7.2 million , or 23 % , from last year • GAAP EPS of $ 0.48 , up $ 0.13 , or 37 % , from last year • Adjusted EPS of $ 0.50 , up $ 0.08 , or 19 % , from last year • Orders of $ 361 million , up $ 159 million , or 79 % , from last year • Record backlog of $ 437 million , up $ 133 million , or 44 % , from the end of last year • Raising full - year outlook to a new range of $ 1.78 to $ 1.90 , from the prior range of $ 1.73 to $ 1.85 Consolidated net sales for the second quarter were $ 335 million , up $ 65 million , or 24 % , compared to the prior - year quarter . Net income for the second quarter was $ 29.7 million , equal to $ 0.48 per diluted share , compared to $ 21.4 million , equal to $ 0.35 per diluted share , in the prior - year quarter . The Company also reported adjusted net income for the second quarter of $ 30.6 million , equal to $ 0.50 per diluted share , compared to $ 25.8 million , or $ 0.42 per diluted share , in the prior - year quarter . The Company is reporting adjusted results to facilitate comparisons of underlying performance on a year - over - year basis . A reconciliation of these and other non - GAAP measures is provided at the conclusion of this news release . Strong Operational Performance Despite Ongoing Supply Chain Disruption " We delivered another strong quarter , with operating results exceeding our expectations , despite ongoing supply chain disruption associated with the global shortage in semiconductors , " commented Jennifer L. Sherman , President and Chief Executive Officer . “ Thanks to the proactive actions taken by our teams , we were able to respond to customer demand by delivering more units than we had anticipated . Aftermarket demand during the quarter was also higher than expected , which helped to partially offset the effects of higher material costs . " In the Environmental Solutions Group , net sales for the second quarter were $ 281 million , up $ 67 million , or 31 % , compared to the prior - year quarter . In the Safety and Security Systems Group , net sales were $ 53 million , compared to $ 56 million in the prior - year quarter . Consolidated operating income for the second quarter was $ 38.5 million , up $ 7.2 million , or 23 % , compared to the prior - year quarter . Consolidated operating margin for the second quarter was 11.5 % , compared to 11.6 % in the prior - year quarter . Consolidated adjusted earnings before interest , tax , depreciation and amortization ( “ adjusted EBITDA " ) for the second quarter was $ 51.9 million , up $ 6.5 million , or 14 % , compared to the prior - year quarter , and consolidated adjusted EBITDA margin was 15.5 % , compared to 16.8 % last year . In the Environmental Solutions Group , adjusted EBITDA for the second quarter was $ 50.6 million , up $ 9.7 million , or 24 % , compared to the prior - year quarter , and its adjusted EBITDA margin was 18.0 % , compared to 19.1 % last year . In the Safety and Security Systems Group , adjusted EBITDA for the second quarter was $ 8.7 million , compared to $ 11.7 million in the prior- year quarter , and its adjusted EBITDA margin was 16.3 % , compared to 20.9 % last year . 1