Federal Signal Corp (NYSE:FSS) Q4 2022 Earnings Conference Call March 1, 2023 10:00 AM ET
Company Participants
Ian Hudson - SVP & CFO
Jennifer Sherman - President, CEO & Director
Conference Call Participants
Michael Shlisky - D.A. Davidson & Co.
Felix Boeschen - Raymond James & Associates
Gregory Burns - Sidoti & Company
David Storms - Stonegate Capital Markets
Walter Liptak - Seaport Research Partners
Christopher Moore - CJS Securities
Robert Barger - KeyBanc Capital Markets
Operator
Good morning, and welcome to the Federal Signal Corporation Fourth Quarter Earnings Conference Call. [Operator Instructions].
I would now like to turn the conference over to Ian Hudson, Chief Financial Officer. Please go ahead.
Ian Hudson
Good morning, and welcome to Federal Signal's fourth quarter conference call. I'm Ian Hudson, the Company's Chief Financial Officer. Also with me on the call today is Jennifer Sherman, our President and Chief Executive Officer. We will refer to some presentation slides today as well as to the earnings release, which we issued this morning. The slides can be followed online by going to our website, federalsignal.com, clicking on the Investor Call icon and signing into the webcast. We have also posted the slide presentation and the earnings release under the Investor tab on our website.
Before I turn the call over to Jennifer, I'd like to remind you that some of our comments made today may contain forward-looking statements that are subject to the Safe Harbor language found in today's news release and in Federal Signal's filings with the Securities and Exchange Commission. These documents are available on our website. Our presentation also contains some measures that are not in accordance with U.S. generally accepted accounting principles. In our earnings release and filings, we reconcile these non-GAAP measures to GAAP measures. In addition, we will file our Form 10-K later today.
Jennifer is going to start today with a recap of the year, and then I will provide some more detail on our fourth quarter and full year financial results. Jennifer will then provide her perspective on our performance and go over our outlook for 2023 before we open the line for any questions.
With that, I would now like to turn the call over to Jennifer.
Jennifer Sherman
Thank you, Ian. I'd like to start by giving my profound thanks to each of our employees and our business partners for their ongoing commitment to the company. As I reflect back on my tenure as CEO, I take great pride in the growth that we've experienced since 2016. Since then, through a combination of organic growth initiatives and M&A, our sales have doubled from a little over $700 million in 2016 to more than $1.4 billion in 2022. That represents a compound annual growth rate of around 13%. With M&A representing about 2/3 of our top line growth since 2016, acquisitions have played a key role in increasing shareholder value.