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SPX Technologies, Inc. - SPXC STOCK NEWS

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) is a leading supplier of engineered products and technologies, specializing in the Heating, Ventilation, and Air Conditioning (HVAC) and detection and measurement markets. Headquartered in Charlotte, North Carolina, the company operates through two main segments: HVAC and Detection & Measurement Technologies.

The HVAC segment, which generates the majority of SPX Technologies' revenue, designs, manufactures, installs, and services a range of cooling, heating, and ventilation products. Recently, the segment expanded its capabilities by acquiring Ingénia Technologies, a company renowned for its custom air handling units used in healthcare, pharmaceuticals, education, food processing, and industrial markets. This acquisition strengthens SPX's position in Engineered Air Movement (EAM) solutions, with Ingénia anticipated to contribute approximately $100 million in annualized revenue for 2024.

The Detection and Measurement Technologies segment focuses on designing, manufacturing, and installing underground pipe and cable locators, inspection equipment, and bus-fare collection systems. This segment is essential for various industries, ensuring safety and efficiency in operations.

Financially, SPX Technologies has shown impressive growth. For the first quarter of 2024, the company reported a 46.7% increase in Adjusted EBITDA, reaching $92.0 million, compared to $62.7 million in the first quarter of 2023. Adjusted earnings per share also saw a significant rise, from $0.93 in Q1 2023 to $1.25 in Q1 2024. The company raised its full-year guidance for Adjusted EPS to a range of $5.15 to $5.40, reflecting a year-on-year growth of approximately 23%.

SPX Technologies' strategic focus includes not only expanding its product portfolio through acquisitions but also driving greater efficiencies in its production facilities. The company's commitment to innovation and quality positions it well for continued success in its key markets.

Globally, SPX Technologies generates the majority of its revenue in the United States, with significant contributions from China, the United Kingdom, and other regions. The company employs over 4,000 people across 15 countries, highlighting its strong international presence.

For more information, visit the official website at www.spx.com.

Rhea-AI Summary
SPX Technologies (SPXC) has acquired Ingénia Technologies for approximately US$300 million in cash, expanding its position in Engineered Air Movement (EAM) solutions. Ingénia, known for its custom air handling units, is expected to contribute approximately US$100 million in annual revenue for 2024, with higher margins and revenue growth rate than the HVAC segment average.
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SPX Technologies (NYSE:SPXC) will release its financial results for the fourth quarter and full-year of fiscal year 2023 after the U.S. financial markets close on Thursday, February 22, 2024. President and CEO Gene Lowe and CFO Mark Carano will discuss the results and business outlook during a conference call on the same day at 4:45 p.m. (Eastern Time). A live webcast of the call will be available on the company's website.
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SPX Technologies, Inc. reported Q3 revenue of $448.7 million, a YoY increase of 21.1%. Diluted EPS from continuing operations was $0.76, compared to $0.27 in Q3 2022. Adjusted EPS was $1.06, up from $0.81 in Q3 2022. The company raised its full-year 2023 adjusted EPS guidance to a range of $4.22 to $4.32, reflecting a YoY growth at the midpoint of approximately 38%. HVAC segment revenue increased by 27.0% YoY, and Detection & Measurement segment revenue increased by 11.8% YoY. SPX also finalized an agreement with Mitsubishi to settle all claims related to projects in South Africa.
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SPX Technologies to release Q3 2023 financial results
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SPX Technologies releases sixth annual sustainability report showcasing progress in ESG efforts
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SPX Technologies to present at Jefferies Industrials Conference on September 7, 2023.
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SPX Technologies, Inc. (NYSE: SPXC) reported Q2 GAAP EPS of $0.82 and Adjusted EPS of $1.06, raising full-year 2023 Adjusted EPS guidance to $4.15-4.30. Revenue for Q2 2023 was $423.3 million with operating income of $51.3 million. HVAC Cooling platform drove strong performance. The company is confident in achieving updated guidance and progressing toward 'SPX 2025' target of $5 per share of Adjusted EPS.
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FAQ

What is the current stock price of SPX Technologies (SPXC)?

The current stock price of SPX Technologies (SPXC) is $162.2 as of October 8, 2024.

What is the market cap of SPX Technologies (SPXC)?

The market cap of SPX Technologies (SPXC) is approximately 7.5B.

What does SPX Technologies specialize in?

SPX Technologies specializes in engineered HVAC products and detection and measurement technologies.

Where is SPX Technologies headquartered?

SPX Technologies is headquartered in Charlotte, North Carolina.

What are the main business segments of SPX Technologies?

The main business segments are HVAC and Detection & Measurement Technologies.

What recent acquisition has SPX Technologies made?

SPX Technologies recently acquired Ingénia Technologies, a company specializing in custom air handling units.

How has SPX Technologies performed financially in recent quarters?

In Q1 2024, SPX Technologies reported a 46.7% increase in Adjusted EBITDA, reaching $92.0 million, compared to $62.7 million in Q1 2023.

In which regions does SPX Technologies generate most of its revenue?

SPX Technologies generates most of its revenue in the United States, with significant contributions from China, the United Kingdom, and other regions.

How many employees does SPX Technologies have?

SPX Technologies employs over 4,000 people across 15 countries.

What is the ticker symbol for SPX Technologies on the New York Stock Exchange?

The ticker symbol for SPX Technologies on the New York Stock Exchange is SPXC.

What are the key markets for Ingénia Technologies' products?

Ingénia Technologies' products are used in healthcare, pharmaceutical, education, food processing, and industrial markets.

Where can I find more information about SPX Technologies?

You can find more information on SPX Technologies' official website at www.spx.com.

SPX Technologies, Inc.

NYSE:SPXC

SPXC Rankings

SPXC Stock Data

7.53B
46.30M
3.73%
96.21%
1.32%
Building Products & Equipment
Metalworkg Machinery & Equipment
Link
United States of America
CHARLOTTE