SPX TECHNOLOGIES INC Stock Price, News & Analysis

SPX Corporation (NYSE: SPXC) reported Q2 2022 results with a GAAP EPS of $0.41 and adjusted EPS of $0.71, raising its full-year EPS guidance to $2.70-$2.85. Revenue increased to $354 million, up from $296.6 million in Q2 2021. The company announced a plan to reorganize its legal structure to align with strategic goals and expects completion by August 15, 2022. SPX repurchased $34 million in stock and anticipates solid cash generation. Their strong performance is attributed to robust bookings despite supply chain challenges.

SPX Corporation (NYSE:SPXC) will announce its financial results for Q2 2022 after market close on August 4, 2022. SPX President and CEO Gene Lowe and CFO Jamie Harris will host a conference call to discuss these results and the company's outlook at 4:45 p.m. Eastern Time on the same day. A live webcast with a slide presentation will be accessible on the Investor Relations page of SPX’s website. The company specializes in engineered products and technologies, focusing on HVAC and detection and measurement markets.

SPX Corporation (NYSE: SPXC) reported Q1 2022 earnings with GAAP EPS of $0.28 and adjusted EPS of $0.40. Revenue increased to $307.1 million, up from $287.2 million in Q1 2021. Despite strong demand, the company faces supply chain constraints affecting production. SPX announced the acquisition of International Tower Lighting (ITL), enhancing its AtoN lighting capabilities. Full-year 2022 guidance was updated, projecting revenue of $1.36-$1.43 billion and adjusted EPS of $2.55-$2.85, reflecting a year-on-year growth of approximately 16%. Cash generation remains strong amidst ongoing challenges.

SPX Corporation (NYSE: SPXC) will release its first quarter 2022 financial results on May 4, 2022, after market close. A conference call will be held at 4:45 p.m. Eastern time, featuring discussions by CEO Gene Lowe and CFO Jamie Harris. Participants can join the call by dialing 877-341-7727 (or +1 262-558-6098 internationally) five minutes prior to the start. A replay will be available until May 11, 2022. SPX Corporation specializes in highly engineered products across HVAC and measurement markets, employing approximately 3,100 individuals globally.

SPX Corporation (NYSE: SPXC) has successfully acquired International Tower Lighting, LLC (ITL) as of April 11, 2022. ITL specializes in designing and manufacturing Aids-to-Navigation systems, generating approximately $18 million in revenue. This acquisition is expected to modestly enhance SPX's average segment margin and will be included in the Detection & Measurement segment. SPX plans to update 2022 financial guidance following Q1 results, indicating a commitment to expand its global AtoN platform.

SPX Corporation (NYSE:SPXC) reported Q4 and full-year results for 2021, with Q4 GAAP EPS at $0.10 and adjusted EPS at $0.88. Full-year GAAP EPS was $1.27 with adjusted EPS of $2.33. Revenue for Q4 was $350.0 million, slightly up from $348.3 million, while full-year revenue reached $1,219.5 million, up from $1,128.1 million in 2020. The company anticipates 2022 adjusted EPS between $2.50-$2.80, driven by strong demand despite supply chain challenges. Notably, SPX closed the sale of Transformer Solutions and completed three strategic acquisitions during 2021.

SPX Corporation (NYSE:SPXC) will release its fourth quarter and full-year 2021 financial results on February 23, 2022, after market close. Following the release, CEO Gene Lowe and CFO Jamie Harris will host a conference call at 4:45 p.m. Eastern to discuss the results and 2022 financial guidance. Interested participants can join the call by dialing 877-341-7727 (international: +1 262-558-6098) and using participant code 2176750. The call will also be webcast and available for replay until March 2, 2022.

SPX Corporation (NYSE:SPXC) has successfully acquired Cincinnati Fan & Ventilator Co. for $145 million in cash, enhancing its engineered air quality solutions segment. This acquisition is projected to yield annual revenues between $60-70 million in 2022. The integration aims to boost SPX's HVAC segment margin significantly. SPX's President, Gene Lowe, expressed optimism about the potential for expanded market opportunities and accelerated growth through this strategic acquisition.

Dominus Capital, L.P. has entered into an agreement to sell Cincinnati Fan & Ventilator Co. to SPX Corporation (NYSE: SPXC) by year-end 2021, pending regulatory approval. Cincinnati Fan specializes in engineered air movement solutions and has experienced growth under Dominus, completing two acquisitions and launching new products. The transaction aims to leverage Cincinnati Fan's capabilities to drive growth for SPX and its investors. William Blair acted as financial advisor for Cincinnati Fan, while BlackArch Partners advised SPX.