{
  "docId": "019de517-3e91-771f-a597-94787904daa3",
  "docSlug": "e0e3437736607de3331c23853585ccf3",
  "documentTitle": "Federal Signal | Results Presentation Deck | 20 slides",
  "authorId": "federal-signal",
  "authorName": "Federal Signal",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 12,
  "pageCount": 20,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "kpi_overview",
  "function": "quantify_opportunity",
  "density": "overcrowded",
  "nDataPoints": 18,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019de517-3e91-771f-a597-94787904daa3/12",
  "deckHref": "/decks/019de517-3e91-771f-a597-94787904daa3",
  "deckJsonHref": "/decks/019de517-3e91-771f-a597-94787904daa3.json",
  "deckAnchorHref": "/decks/019de517-3e91-771f-a597-94787904daa3#slide-12",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.201,
        "x": 0.058,
        "y": 0.926
      },
      "kind": "image",
      "text": "FEDERAL SIGNAL",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2061c44a-18c7-4411-b629-a8410d2d4141",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.016,
        "w": 0.019,
        "x": 0.929,
        "y": 0.929
      },
      "kind": "legend",
      "text": "12",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "152c364a-ed77-4759-9783-991246553d09",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.019,
        "w": 0.43,
        "x": 0.53,
        "y": 0.69
      },
      "kind": "list",
      "text": "No significant increase in current input costs",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0d5a606c-1901-40ef-925f-c988fa48909c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.359,
        "x": 0.093,
        "y": 0.458
      },
      "kind": "list",
      "text": "Represents YoY growth of 17% - 20% vs. $1.43 B in 2022",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "189f09ff-db72-404b-b01e-e403ea6708fd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.43,
        "x": 0.53,
        "y": 0.55
      },
      "kind": "list",
      "text": "No significant deterioration in current supply chain environment; assumes continued supply chain improvement in Q4 2023, with steady flow of customer-provided chassis",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "31b780c8-c226-4d56-914d-a37c25d7f178",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.43,
        "x": 0.073,
        "y": 0.375
      },
      "kind": "list",
      "text": "Also raising low end of full-year net sales outlook by $30 M, establishing new range of $1.68 B to $1.72 B",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "50423f4f-b6d3-48bd-b595-d17fbc1155fc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.43,
        "x": 0.53,
        "y": 0.47
      },
      "kind": "list",
      "text": "~61-62 M weighted average shares outstanding",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "907d76cc-799e-4df6-ae0a-cb66e5cb73c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.43,
        "x": 0.073,
        "y": 0.66
      },
      "kind": "list",
      "text": "Interest expense of ~$20-21 M; YoY EPS headwind of ~$0.13",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9cb8f342-118a-4777-8455-380bd4e3fd31",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.016,
        "w": 0.12,
        "x": 0.44,
        "y": 0.327
      },
      "kind": "list",
      "text": "Key Assumptions",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb257be4-95bb-481f-b88d-ddc007711ac2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.43,
        "x": 0.53,
        "y": 0.375
      },
      "kind": "list",
      "text": "Effective tax rate of ~24%, excluding additional discrete items; YoY EPS headwind of ~$0.07",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c4c41b1e-7ebb-4936-921b-4311c1726ba8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.43,
        "x": 0.073,
        "y": 0.56
      },
      "kind": "list",
      "text": "Depreciation and amortization expense of ~$60 M - $62 M",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cb20c346-4304-47c1-b33e-643acf97cf2f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.019,
        "w": 0.37,
        "x": 0.073,
        "y": 0.52
      },
      "kind": "list",
      "text": "Double-digit improvement in pre-tax earnings",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ddd39e87-01c9-4bf5-be95-799619d64ca6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.019,
        "w": 0.37,
        "x": 0.073,
        "y": 0.62
      },
      "kind": "list",
      "text": "Capital expenditures of $27 M to $30 M",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ff54f96b-249c-4967-b424-972347c7cb3d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.856,
        "x": 0.073,
        "y": 0.229
      },
      "kind": "paragraph",
      "text": "Would represent highest EPS in Company's history and YoY growth of 24%-29%, despite aggregate headwind of ~$0.20 from higher interest expense and increase in effective tax rate",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a3a7124b-6537-4b90-af36-68db4692fefa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.884,
        "x": 0.058,
        "y": 0.817
      },
      "kind": "source-note",
      "text": "*Adjusted earnings per share (\"EPS\") is a non-GAAP measure, which includes certain adjustments to reported GAAP net income and diluted EPS. In the nine months ended September 30, 2023, we made adjustments to exclude the impact of acquisition and integration-related expenses (benefits) and environmental remediation costs of a discontinued operation. In prior years, we have also made adjustments to exclude the impact of debt settlement charges and certain other unusual or non-recurring items. Should any similar items occur in the remainder of 2023, we would expect to exclude them from the determination of adjusted EPS. However, because of the underlying uncertainty in quantifying amounts which may not yet be known, a reconciliation of our Adjusted EPS outlook to the most applicable GAAP measure is excluded based on the unreasonable efforts exception in Item 10(e)(1)(i)(B).",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fe22e6ce-d655-4703-8a67-599f10069adc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.856,
        "x": 0.073,
        "y": 0.147
      },
      "kind": "title",
      "text": "Raising Full-Year Adjusted EPS* Outlook to a new range of $2.44 to $2.52, from the previous range of $2.30 to $2.46",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4062adb9-d10f-43ba-9f97-a859977dfe94",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.035,
        "w": 0.439,
        "x": 0.058,
        "y": 0.049
      },
      "kind": "title",
      "text": "Raising 2023 Outlook",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "977ed64d-0394-41f7-a4d0-142e3e26d9fd",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "d8e88160-280b-4217-ba14-f1d33e74f4a6",
      "evidence": "Raising Full-Year Adjusted EPS* Outlook to a new range of $2.44 to $2.52, from the previous range of $2.30 to $2.46",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 12,
      "from": 8,
      "beatId": "ca1cd9b5-149c-4103-89ae-d7d5d514c14f",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Satisfaction",
      "beatSlug": "monroes-sequence-satisfaction",
      "evidence": "CEO Remarks on Q3 Performance, Market Conditions, and Increasing Margin Targets",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    },
    {
      "to": 13,
      "from": 12,
      "beatId": "269c0d4d-5d30-4240-9f4f-64e2c3298e06",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Action",
      "beatSlug": "monroes-sequence-action",
      "evidence": "Raising Full-Year Adjusted EPS Outlook and Q&A",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 12,
      "from": 8,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "447de003-e516-4e2f-8294-5882014e60e5",
      "evidence": "CEO Remarks on Q3 Performance, Market Conditions, and Increasing Margin Targets",
      "position": 1,
      "objective": "CEO Remarks on Q3 Performance and Market Conditions",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
      "confidence": 0.6,
      "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}