SPX TECHNOLOGIES INC Stock Price, News & Analysis

SPX Technologies (NYSE:SPXC) has announced it will release its third quarter 2024 financial results after U.S. financial markets close on Wednesday, October 30, 2024. Following this, the company will hold a conference call at 4:45 p.m. (Eastern Time) on the same day. President and CEO Gene Lowe, along with VP, CFO, and Treasurer Mark Carano, will discuss the financial results and business outlook.

The call will be webcast live with slides available on the company's Investor Relations website. For those wishing to participate via phone, the dial-in number is 1-833-630-1956 (U.S.) or +1-412-317-1837 (outside U.S.). Participants are advised to dial in five minutes before the start time. A replay will be available after the call, accessible by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (outside U.S.) with the replay access code 4037679.

SPX Technologies (NYSE:SPXC) has released its seventh annual sustainability report for 2023, now available on their website. President and CEO Gene Lowe highlighted the company's progress in sustainability, emphasizing its role in their value creation framework and strategic planning process.

Key achievements include:

• Introduction of new climate-conscious solutions for customers
• Further reduction in greenhouse gas intensity, ahead of schedule

The report underscores SPX Technologies' commitment to sustainability as a core component of their business strategy and showcases their ongoing efforts to improve environmental performance while delivering innovative solutions to customers.

SPX Technologies (NYSE:SPXC) has appointed Jennifer Carpenter as its new Chief Human Resources Officer (CHRO), effective September 30, 2024. She succeeds Tausha White, who is retiring. Ms. Carpenter brings over 20 years of leadership experience in human resources, most recently serving as Vice President, Human Resources for Digital IT at Honeywell International Inc.

Gene Lowe, President and CEO of SPX, praised Ms. Carpenter's expertise in developing business partnerships, building talent, and empowering employees. He highlighted her strong track record in driving process efficiencies and managing growth. Ms. Carpenter's experience includes leading HR functions across diverse businesses and global teams, as well as playing a major role in integrating a $3 billion+ acquisition with over 6,000 employees.

SPX Technologies (NYSE:SPXC) reported strong Q2 2024 results, with revenue of $501.3 million and operating income of $74.6 million. The company's GAAP EPS was $0.96, while Adjusted EPS reached $1.42. Based on these results, SPX is raising its full-year 2024 Adjusted EPS guidance to $5.45-$5.60, implying year-on-year growth of approximately 28%.

Key highlights include:

• Q2 net income increased 22.8% to $44.2 million
• Adjusted EBITDA grew 45.0% to $108.9 million
• HVAC segment revenue increased 32.5% to $356.5 million
• Detection & Measurement segment revenue decreased 6.2% to $144.8 million

SPX updated its full-year 2024 guidance, targeting consolidated revenue of $1.97-$2.02 billion and adjusted EBITDA of $410-$430 million.

On July 11, 2024, SPX Technologies (NYSE: SPXC) announced it will release its Q2 2024 financial results after the U.S. markets close on August 1, 2024. The company’s President and CEO, Gene Lowe, and CFO, Mark Carano, will discuss the results and business outlook in a conference call at 4:45 p.m. (ET) the same day. A live webcast and slide presentation will be available on SPX's Investor Relations page. Dial-in details for the call can be obtained via a provided link. A replay of the webcast will be accessible on the company’s website for a time.

SPX Technologies (NYSE: SPXC) announced the appointment of Cherée Johnson as the new Chief Legal Officer and Secretary, effective June 10, 2024. She succeeds John W. Nurkin, who is retiring. Johnson brings over 20 years of senior executive experience across multiple industries. Her previous roles include senior vice president and Chief Legal Officer at Dentsply Sirona, General Counsel at W.R. Grace & Company, and legal executive positions at McCormick, Kraft Heinz, and 3M. She holds a law degree from the University of Minnesota and a Chemical Engineering degree from Florida A&M University.

SPX Technologies, Inc. reported strong Q1 2024 results, highlighting Q1 GAAP EPS of $1.05 and adjusted EPS of $1.25. Revenue increased to $465.2 million, operating income reached $64.6 million, and net income was $49.0 million. Adjusted EBITDA grew by 46.7% to $92.0 million. HVAC segment revenue increased by 20.2%, while the Detection & Measurement segment saw a 9.9% revenue increase. SPX raised its 2024 full-year adjusted EPS guidance to $5.15-$5.40, reflecting a 23% year-on-year growth.