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 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.
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.