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. reports recurring developments across its engineered HVAC products and detection and measurement technologies businesses. Company news commonly covers quarterly and annual results, segment performance, production-capacity investments, customer demand for data center cooling solutions, and the contribution of heating and cooling product volumes to operating results.
Updates also include product launches such as the Marley OlympusMAX Fluid Cooler, additions to the HVAC portfolio through completed acquisitions, and corporate governance changes. The company’s disclosures emphasize cooling towers, dry and adiabatic coolers, custom electric heating, custom air-handling equipment, communication technologies, transportation systems, and related industrial markets.
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.
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