Federal Signal
16 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.
Customers
U.S. municipal government spending
earns fromnamed as a riskMany of our customers are municipal government agencies; therefore, we are dependent on municipal government spending.Risk factors (Item 1A)
Partners and platforms
Dealer network
depends onnamed as a riskThe loss or termination of a significant dealer, or a significant number of dealers, could cause difficulties in marketing and distributing our products and have an adverse effect on our business, financial condition, results of operations, or cash flow.Risk factors (Item 1A)
Other companies
Hog Technologies (Waterblasting, LLC)
In 2025, the Company completed the acquisition of substantially all the assets and operations of Waterblasting, LLC, owner of Hog Technologies, and Waterblasting Eurasia, s.r.o. (collectively, “Hog”), the acquisition of all of the outstanding equity interests of Scranton Manufacturing Company LLC d/b/a New Way Trucks (“New Way”), and the acquisition of certain assets and operations of Kinloch Equipment & Supply, Inc. (“Kinloch”).Business (Item 1)
Places
United States
concentrated in · approximately 79% of our net salesnamed as a riskIn 2025, we generated approximately 79% of our net sales in the U.S.Risk factors (Item 1A)
Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more
International sales (outside U.S.)
earns from · approximately 21% of our net salesnamed as a riskIn 2025, approximately 21% of our net sales were to customers outside the U.S., and we expect a significant portion of our net sales to come from international sales in the foreseeable future.Risk factors (Item 1A)
Also named by AEHR, AMD, AME, ATI, AVAV, CRS, ENTG, HLIO and 5 more
Hazards
Russia-Ukraine war
named as a riskAdditionally, the war in Ukraine has led to economic sanctions imposed against Russia by the U.S. and certain European nations, including a prohibition on doing business with certain Russian companies which may lead to retaliatory trade restrictions from Russia.Risk factors (Item 1A)
Also named by ADSK, ATR, AVAV, CSCO, CTVA, EMR, FIS, FLO and 21 more
North America weather seasonality
In addition, rental income and parts sales are generally higher in the second and third quarters of the year, because many of the Company’s products are used for maintenance activities in North America, where usage is typically lower during periods of harsher weather conditions.Business (Item 1)
Also named by APG
Commodities and inputs
Commercial vehicle chassis
depends onnamed as a riskAlthough supply chain conditions have improved in recent years, certain of our businesses may periodically experience supply challenges and extended lead times for some components and raw materials, including certain classes of chassis that are important to our manufacturing processes, especially in light of geopolitical conflicts discussed elsewhere.Risk factors (Item 1A)
Engines
depends onnamed as a riskComponents critical to the production of the Company’s vehicles, such as engines, are purchased from a select number of suppliers.Business (Item 1)
Laws and programs
Employee Retirement Income Security Act (ERISA)
subject to · approximately 96%named as a riskFunding of the Company’s U.S. defined benefit pension plan is determined in accordance with guidelines set forth in the Employee Retirement Income Security Act.Risk factors (Item 1A)
OECD Pillar Two global minimum tax
subject to · 15%While Pillar Two applies to our worldwide operations, we do not have material operations in jurisdictions with tax rates lower than the Pillar Two minimum and therefore have not experienced material increases in our global tax costs.Risk factors (Item 1A)
Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more
Foreign Corrupt Practices Act
subject tonamed as a riskOperating in the international marketplace exposes us to a number of risks, including the need to comply with U.S. and foreign laws and regulations applicable to our foreign operations, such as the Foreign Corrupt Practices Act, the United Kingdom (“U.K.”) Bribery Act, and their counterparts in the other foreign jurisdictions in which we operate, restrictive domestic and international trade regulations, and changes in these laws, regulations, and policies by the U.S. and foreign governments.Risk factors (Item 1A)
Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more
U.S. import tariffs
subject tonamed as a riskThe continued imposition of such tariffs may strain international trade relations or impact costs of raw materials.Risk factors (Item 1A)
Also named by AOS, APLD, BJ, BMI, CAVA, CVLG, CVS, DKS and 18 more
U.K. Bribery Act
subject tonamed as a riskOperating in the international marketplace exposes us to a number of risks, including the need to comply with U.S. and foreign laws and regulations applicable to our foreign operations, such as the Foreign Corrupt Practices Act, the United Kingdom (“U.K.”) Bribery Act, and their counterparts in the other foreign jurisdictions in which we operate, restrictive domestic and international trade regulations, and changes in these laws, regulations, and policies by the U.S. and foreign governments.Risk factors (Item 1A)