SPX TECHNOLOGIES INC Stock Price, News & Analysis

SPX Technologies (NYSE:SPXC) has completed the acquisition of Toronto-based Sigma & Omega for $144 million (CAD 200 million). Founded in 1997, Sigma & Omega manufactures hydronic heating and cooling equipment, including vertical stack heat pumps, fan coils, and commercial self-contained units.

The acquired company, with 220 employees, is projected to generate $65 million in annual revenue for 2025. Sigma & Omega will operate within SPX's HVAC segment as part of its hydronics business. While currently focused on Canadian customers, SPX plans to expand U.S.-based production to increase American market penetration.

The acquisition multiple aligns with SPX's typical range of 8x-12x Adjusted EBITDA. SPX will update its full-year 2025 guidance to include Sigma & Omega's impact during Q1 2025 results announcement on May 1, 2025.

SPX Technologies (NYSE:SPXC) has scheduled its first quarter 2025 financial results announcement for Thursday, May 1, 2025, after U.S. market close. The company will host a conference call at 4:45 p.m. Eastern Time on the same day, featuring President and CEO Gene Lowe and VP, CFO and Treasurer Mark Carano, who will discuss financial results and business outlook.

The presentation will be accessible through a simultaneous webcast with slides available in the Investor Relations section of SPX's website. Participants are encouraged to dial in fifteen minutes before the scheduled start time to avoid delays. A webcast replay will be available for a time on the company website.

SPX Technologies (NYSE:SPXC) has announced a facility tour of its Ingénia Technologies production site in Mirabel, Quebec, scheduled for April 1, 2025. The two-hour event, starting mid-day, will be led by SPX's corporate Investor Relations team and HVAC segment managers.

The tour is exclusively available to current and prospective investors and sell-side analysts, with attendance requiring an invitation through SPX's Investor Relations team. Ingénia, acquired by SPX in early 2024, specializes in custom air handling units within SPX's Cooling platform.

The facility, known for serving healthcare, pharmaceutical, education, food processing, and industrial markets, is currently undergoing significant expansion. Ingénia's competitive advantage stems from its advanced robotics, automation, and proprietary software, enabling rapid market deployment and enhanced customer value.

SPX Technologies (NYSE:SPXC) reported strong financial results for Q4 and full-year 2024. Q4 GAAP EPS reached $1.19 (up 78% YoY) while full-year GAAP EPS hit $4.29 (up 38% YoY). The company's full-year GAAP net income surged 123% to $200.5 million.

Q4 revenue increased to $533.7 million from $469.4 million in 2023. The HVAC segment showed remarkable performance with 18.6% revenue growth and record margins. The Detection & Measurement segment grew 4.0% in Q4, with improved segment income margins of 23.0%.

Looking ahead, SPX introduced its 2025 guidance with projected revenue of $2.13-$2.19 billion and adjusted EPS guidance of $6.00-$6.25. The company completed strategic acquisitions including Ingénia and Kranze Technology Solutions (KTS), positioning itself for continued growth.

SPX Technologies (NYSE:SPXC) has completed the acquisition of Kranze Technology Solutions (KTS), a leader in digital interoperability and tactical networking solutions. KTS will be integrated into SPX's Communication Technologies platform within its Detection & Measurement segment.

The acquisition is expected to be modestly accretive to adjusted earnings per share from continuing operations in 2025. SPX will provide detailed 2025 guidance, including KTS's impact, during its Q4 2024 results announcement on February 25, 2025.

The strategic acquisition enhances SPX's position in Communication Technologies, complementing its existing tactical datalinks, communications intelligence, and RF countermeasure offerings. It also expands SPX's presence in U.S. defense platforms and creates growth opportunities across its global customer base.

SPX Technologies (NYSE:SPXC) has scheduled its fourth quarter and full-year 2024 financial results release for Tuesday, February 25, 2025, after U.S. market close. The company will host a conference call at 4:45 p.m. Eastern Time on the same day, featuring President and CEO Gene Lowe and VP, CFO and Treasurer Mark Carano, who will discuss financial results and business outlook for 2025.

The conference call will be accessible via webcast with accompanying slides through the company's Investor Relations website. Participants are encouraged to join the call fifteen minutes before the scheduled start time to avoid delays. A replay of the webcast will be available for a time on the company's website.

SPX Technologies (NYSE:SPXC) has announced a definitive agreement to acquire Kranze Technology Solutions (KTS) for approximately $350 million in cash. KTS, headquartered in Des Plaines, Illinois, specializes in digital interoperability and tactical networking solutions, with strong ties to the US Marine Corps.

KTS is projected to generate revenue of approximately $90 million for 2025, with segment income margin and revenue growth rate above the Detection & Measurement segment average. The acquisition will be financed through SPX's revolving credit facility and is expected to close in Q1 2025, subject to regulatory approval.

This marks SPX's 15th acquisition since 2018, scaling their CommTech platform to over $200 million in revenue. The integration will enhance SPX's tactical datalinks and RF countermeasure offerings, particularly in US military platforms and the Asia Pacific region.

SPX Technologies (NYSE:SPXC) has announced its participation in two upcoming investor conferences. The company will attend the Wolfe Research Small and Mid-Cap Conference in New York City on December 4th and the Sidoti Small Cap Conference virtually on December 5th. President and CEO Gene Lowe and CFO Mark Carano will meet with investors at both events.

At the Sidoti conference, SPX will deliver a live presentation with Q&A at 10am Eastern Time. The presentation will be accessible via webcast through the company's website and will remain available for approximately 90 days after the event.

SPX Technologies (NYSE:SPXC) reported strong Q3 2024 results with revenue of $483.7 million, up from $448.7 million in Q3 2023. Operating income reached $78.9 million, compared to $57.7 million last year. The company achieved significant margin expansion in both HVAC and Detection & Measurement segments. Q3 GAAP EPS was $1.08, while Adjusted EPS reached $1.39. HVAC segment revenue grew 15.9% to $335.3 million, while Detection & Measurement revenue decreased 7% to $148.4 million. The company maintains its full-year 2024 guidance for adjusted EBITDA of $410-$430 million and adjusted EPS of $5.45-$5.60.