Federal Signal Corporation (NYSE:FSS) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET
Company Participants
Ian Hudson - Senior Vice President and Chief Financial Officer
Jennifer Sherman - President and Chief Executive Officer
Felix Boeschen - Vice President, Corporate Strategy and Investor Relations
Conference Call Participants
Jacob More - KeyBanc Capital Markets
Chris Moore - CJS Securities
Mike Shlisky - D.A. Davidson
Greg Burns - Sidoti & Co
Operator
Good morning, and welcome to the Federal Signal Corporation 2023 Third Quarter Earnings Conference Call. All participants will be in listen-only-mode. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Felix Boeschen, Vice President, Corporate Strategy and Investor Relations. Please go ahead.
Felix Boeschen
Good morning, and welcome to Federal Signal's third quarter 2023 conference call. I'm Felix Boeschen, the company's Vice President of Corporate Strategy and Investor Relations. Also with me on the call today is Jennifer Sherman, our President and Chief Executive Officer; and Ian Hudson, our Chief Financial Officer.
We will refer to some presentation slides today as well as to the earnings news 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've also posted the slide presentation and the earnings release under the Investor tab on our website.
Before we begin, 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-Q later today.
Ian is going to begin today by providing some detail on our third quarter results before turning the call over to Jennifer to provide an update on our performance, current market conditions, updated margin targets and our outlook for the remainder of the year. After our prepared comments, we will open the lines up for questions.
With that, I would now like to turn the call over to Ian.
Ian Hudson
Thank you, Felix. Our consolidated third quarter financial results are provided in today's earnings release. In summary, our third quarter results were outstanding, and we reported new company records for quarterly net sales and adjusted EPS, a 220 basis point year-over-year increase in EBITDA margin, an 18% increase in orders and significant improvement in cash generation with cash conversion of 110%.