Federal Signal Corporation announced that its Board of Directors authorized an additional stock repurchase program of up to $150 million of the company's common stock. This new authorization supplements a prior program from March 2020, which had approximately $27 million of availability remaining at the end of the first quarter of 2025.
The primary objective of the repurchase program is to provide cash returns to stockholders, enhance stockholder returns, and manage the company's capital structure. This move reflects management's confidence in the company's prospects and financial strength.
Jennifer L. Sherman, President and Chief Executive Officer, stated that with a strong balance sheet, robust free cash flow generation, and low debt levels, the company can fund opportunistic repurchases without impacting investments in growth initiatives or disciplined acquisition efforts. Stock repurchases are subject to market conditions and may be commenced, suspended, or discontinued at any time.
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