Welcome to our dedicated page for SPX TECHNOLOGIES news (Ticker: SPXC), a resource for investors and traders seeking the latest updates and insights on SPX TECHNOLOGIES stock.
SPX Technologies, Inc. (NYSE: SPXC) generates a steady flow of news as a diversified, global supplier of highly engineered industrial technology equipment. Company announcements emphasize its focus on the HVAC and detection and measurement markets, with updates on segment performance, acquisitions, capital markets activity, and leadership changes.
Investors following SPXC news can expect regular quarterly earnings releases, where SPX reports results for its HVAC and Detection & Measurement segments and discusses trends in areas such as hydronic heating and cooling equipment, engineered air movement, communication technologies, transportation systems, aids to navigation, and inspection businesses. These releases often include commentary on organic and inorganic growth, non-GAAP measures like adjusted EBITDA and adjusted EPS, and updated full-year guidance ranges.
SPX news also covers acquisition activity, such as the completed acquisition of Sigma Heating and Cooling and Omega Heat Pump (Sigma & Omega) and the definitive agreement to acquire Crawford United Corporation’s commercial air-handling equipment segment. These announcements describe how new businesses expand SPX’s HVAC portfolio with vertical stack heat pumps, fan coils, institutional heating products, commercial self-contained units, and custom air-handling solutions serving markets like high-rise residential buildings, hotels, schools, hospitals, healthcare, universities, pharmaceutical, advanced manufacturing, and commercial properties.
Additional news items include public equity offerings and related underwriting agreements, credit agreement amendments that affect the company’s financing structure, and executive appointments, such as the naming of a new Vice President, General Counsel & Secretary. Together, these updates provide context on SPX’s strategic priorities, capital deployment, and governance.
By monitoring this news feed, readers can track SPXC’s financial disclosures, strategic transactions, and corporate developments as reported through press releases and related SEC filings.
SPX Corporation (NYSE:SPXC) will release its third quarter 2020 financial results on October 29, 2020, after market close. Following the release, CEO Gene Lowe and CFO Jamie Harris will discuss the results in a conference call at 4:45 p.m. Eastern Time. Interested participants should dial in five minutes early. The call will be webcast and a replay will be available until November 5th. SPX is a leading supplier of engineered products with approximately $1.5 billion in annual revenue and over 4,500 employees.
SPX Corporation (NYSE: SPXC) announced the acquisition of ULC Robotics, a leader in robotic systems and inspection technology, for an upfront cash payment and contingent payments based on performance. ULC's RaaS business, CISBOT, specializes in rehabilitating natural gas distribution networks, contributing approximately $40 million in annual revenue. The integration is expected to enhance SPX's Detection & Measurement segment margins and have a modest impact on 2020 Adjusted EPS. This acquisition aims to complement SPX’s Location & Inspection platform, fostering growth in advanced technologies such as AI and machine learning.
SPX Corporation (NYSE:SPXC) has appointed Jamie E. Harris as Vice President, Chief Financial Officer, and Treasurer, effective August 17, 2020. Harris brings over 20 years of executive financial experience, previously serving as CFO of Elevate Textiles and Coca-Cola Consolidated. He will replace Scott Sproule, who is retiring but will assist during the transition. CEO Gene Lowe expressed confidence in Harris's ability to drive growth and operational excellence amidst challenging market conditions, aiming to position SPX for future success.
SPX Corporation (NYSE: SPXC) will release its second-quarter 2020 financial results on July 30, 2020, after market close. The company's President and CEO Gene Lowe, along with CFO Scott Sproule, will discuss these results during a conference call at 4:45 p.m. Eastern time. Interested parties can join by dialing in five minutes early or via the company’s website. A replay of the call will be available until August 6, 2020. SPX Corporation, based in Charlotte, NC, reported approximately $1.5 billion in revenue for 2019 and employs over 4,500 people across 17 countries.
SPX Cooling Technologies has launched the Marley BasinGard Filter, designed for evaporative cooling towers. This innovative filter captures debris and maintains hot water basin flow, enhancing system performance and reducing maintenance costs. Its stainless steel grid provides stability, while the silver-based biocide ensures hygiene. The filter prevents premature component replacement and is replaceable for sustained microbial properties. With twice the clog resistance, the BasinGard Filter is a significant addition to SPX's MarleyGard Water Management Tools.
SPX Cooling Technologies has launched the Marley MH Element Fluid Cooler, an innovative cooling solution designed for HVAC, industrial, and process cooling. This cooler achieves 15% more thermal capacity than traditional systems while being 20% lighter and using 35% less fluid and fan power. Its hybrid design combines cooling tower and heat exchanger functionalities, extending service life with superior corrosion resistance and offering high thermal conductivity through copper coils. The product is independently certified by the Cooling Technology Institute, ensuring reliability.
SPX Corporation (NYSE:SPXC) announces that CEO Gene Lowe will present at the UBS Global Industrials and Transportation Conference today, June 3, 2020, at 4:40 p.m. ET. The event will be available via webcast on the company's website. SPX reports a Q2 2020 organic adjusted revenue decline of about 10%, influenced by prior acquisitions. In 2019, SPX recorded approximately $1.5 billion in annual revenue and operates in 17 countries, emphasizing its role in HVAC and engineered solutions markets.
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