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 Corporation (NYSE:SPXC) will release its third quarter 2021 financial results on November 3, 2021, after market close. CEO Gene Lowe and CFO Jamie Harris will discuss the results during a conference call at 4:45 p.m. Eastern Time, with a dial-in option available. A replay of the call will be accessible until November 10, 2021. SPX Corporation specializes in engineered products and technologies in the HVAC and detection sectors, employing over 4,000 staff across 15 countries.
SPX Corporation has completed the sale of SPX Transformer Solutions, Inc. to Prolec GE for $645 million, including assumed debt. This strategic move aims to enhance SPX's focus on its HVAC and Detection & Measurement segments. CEO Gene Lowe expressed confidence in this transaction, highlighting its value creation potential and ability to accelerate strategic initiatives. SPX expects to pay taxes on the gain from the sale in 2022. The transaction is positioned to strengthen Prolec GE's support for the electrical grid's growth in the Americas.
SPX Corporation (NYSE:SPXC) announced that CEO Gene Lowe will present at the Sidoti Fall Virtual Investor Conference on September 22, 2021, at 2:30 PM ET. CFO Jamie Harris will join him, and one-on-one meetings with investors will also be available. The presentation can be accessed live through a provided Zoom link. SPX Corporation, based in Charlotte, North Carolina, specializes in engineered products and technologies, focusing on HVAC and detection and measurement markets. The company operates in 15 countries with approximately 4,000 employees.
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SPX Corporation (NYSE:SPXC) reported Q2 2021 GAAP EPS of $0.32 and adjusted EPS of $0.49, reflecting year-over-year increases. The company updated its full-year 2021 guidance, expecting adjusted EPS between $2.25-$2.45, driven by strong performance in the HVAC segment and the acquisition of Enterprise Control Systems Ltd (ECS). Revenue for Q2 was $296.7 million, up from $258.0 million in Q2 2020. Despite a decline in operating income, SPX remains solid in investments, focusing on growth as it aims for 'SPX 2025' targets.
SPX Corporation (NYSE: SPXC) has successfully acquired Enterprise Control Systems Ltd (ECS), a UK-based leader in tactical datalinks and RF countermeasures. This acquisition, part of SPX's Communications Technology platform, is expected to contribute approximately $14 million in annualized revenue. SPX anticipates updating its 2021 financial guidance on August 5 to reflect ECS's integration, which is projected to enhance segment margins. The acquisition is seen as a strategic move to bolster SPX's position in COMINT and expand its market reach.
SPX Corporation (NYSE:SPXC) will release its Q2 2021 financial results after market close on August 5, 2021. The company will conduct a conference call at 4:45 p.m. Eastern time to discuss these results. Interested parties can join by dialing 877-341-7727 (international: +1 262-558-6098), and a replay will be available until August 12, 2021. SPX Corporation specializes in highly engineered products within the HVAC and detection and measurement markets, boasting over 4,500 employees across 15 countries.
SPX Corporation announced it will sell SPX Transformer Solutions, Inc. to GE-Prolec Transformers, Inc. for $645 million, expecting net proceeds of approximately $540 million after taxes. The sale aligns with SPX's strategy to focus on its HVAC and Detection & Measurement segments. Following the transaction, SPX anticipates adjusted earnings per share of $2.17 to $2.37 and adjusted revenue of $1.25 billion for 2021, down from previous estimates. The deal is expected to close in the second half of 2021, pending regulatory review.
SPX Corporation (NYSE: SPXC) reported Q1 2021 GAAP EPS of $0.60 and Adjusted EPS of $0.68, reflecting solid revenue growth driven by HVAC and Detection & Measurement segments. Revenue increased to $398.5 million from $367.4 million in Q1 2020, with adjusted operating income rising to $42.2 million. The full-year Adjusted EPS guidance has been updated to a range of $3.06 to $3.26, indicating a potential 13% growth year-over-year. The company also completed the acquisition of Sealite, enhancing its global Aids to Navigation solutions.
SPX Corporation has acquired Sealite Pty Ltd and its affiliates, enhancing SPX's capabilities in engineered lighting solutions. Sealite specializes in marine and aviation Aids to Navigation and operates globally. The acquisition is expected to add $30 million to $40 million in annualized revenue. SPX will include Sealite’s results in its Detection & Measurement segment and plans to update its 2021 guidance during the Q1 earnings report on May 6. This strategic move positions SPX to leverage Sealite's strength in the Asia Pacific region and its high-value lighting applications.