JPMorgan's Stephen Tusa just initiated coverage of SPX Technologies SPXC with an Overweight rating and a $260 price target, and the signal is unambiguously bullish. ...

Core Insights - SPX Technologies reported strong fourth-quarter results with a 19.4% year-over-year revenue increase, driven by both acquisitions and organic growth across segments [2] - The company anticipates continued growth in 2026, with projected revenue between $2.535 billion and $2.605 billion, and adjusted EPS expected to rise by approximately 15% [6][20] HVAC Segment Performance - In the HVAC segment, fourth-quarter revenue grew by 16.4%, with organic revenue increasing by 10.3% and segment income rising by $17 million, or 18% [1] - The segment backlog reached $585 million, reflecting a 22% organic increase year-over-year [1] Detection & Measurement Segment Performance - The Detection & Measurement segment saw a revenue increase of 26.3% year-over-year, with organic revenue growth of 1.7% primarily due to higher project volumes [6] - Segment income grew by $10 million, or 27%, and backlog finished at $350 million, up 43% organically year-over-year [6] Financial Highlights - Adjusted earnings per share for the fourth quarter rose by 25% to $1.88, while full-year adjusted EPS increased by 21% to $6.76 [3] - Adjusted EBITDA for the fourth quarter increased by approximately 22% year-over-year, with a margin expansion of 50 basis points [2] Capital Investments and Capacity Expansion - SPX is investing approximately $100 million in capital expenditures for HVAC capacity expansion in 2026, following about $60 million in 2025 [5][9] - A new 459,000 square-foot facility in Alabama is expected to enhance manufacturing capabilities for custom air handling and data center solutions [7] Acquisitions and Strategic Growth - Recent acquisitions, including Thermelec and Air Enterprises, are expected to contribute approximately $35 million and low $80 million in annual revenue, respectively [11][12] - Data center revenue is projected to grow significantly, moving from about 9% of total revenue in 2025 to approximately 12% in 2026, with anticipated growth of around 50% [13] 2026 Guidance - Management provided guidance for 2026, forecasting HVAC revenue between $1.8 billion and $1.84 billion, and Detection & Measurement revenue between $735 million and $765 million [17] - The company expects adjusted EBITDA of $590 million to $620 million and adjusted EPS of $7.60 to $8.00 for 2026 [20]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 1-6948 SPX Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 88-3567996 (State or other jurisdiction of ...

SPX Technologies (NYSE:SPXC) Q4 2025 Earnings call February 24, 2026 04:45 PM ET Company ParticipantsAndrew Obin - Managing Director of Equity ResearchBryan Blair - Managing DirectorGene Lowe - President and CEOMark Carano - CFOConference Call ParticipantsAmit Mehrotra - Managing Director and Senior Equity AnalystBradley Hewitt - Equity Research AnalystJamie Cook - Managing Director and Senior Equity Research AnalystJeff Van Sinderen - Senior Research AnalystJoe O'Dea - Managing Director and Senior Equity A ...

SPX Technologies (NYSE:SPXC) Q4 2025 Earnings call February 24, 2026 04:45 PM ET Speaker10Good day. Thank you for standing by. Welcome to the SPX Technologies Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you'll need to press star one one on your telephone. You will hear an automated message advising your hand is raised. To withdraw yo ...

Q4 2025 Earnings Presentation FEBRUARY 24, 2026 Q4 2025 EARNINGS PRESENTATION | COPYRIGHT © 2025 SPX TECHNOLOGIES 1 Q4 2025 EARNINGS PRESENTATION | COPYRIGHT © 2025 SPX TECHNOLOGIES FEBRUARY 24, 2026 2 | Introductory Comments Gene Lowe, President & Chief Executive Officer FEBRUARY 24, 2026 Q4 2025 EARNINGS PRESENTATION | COPYRIGHT © 2025 SPX TECHNOLOGIES 3 | Safe Harbor Statement Certain statements contained in this presentation that are not historical facts, including any statements as to future market con ...

Exhibit 99.1 SPX Reports Fourth Quarter and Full-Year 2025 Results Introducing Full-Year 2026 Guidance CHARLOTTE, N.C., February 24, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) ("SPX", the "Company", "we" or "our") today reported results for the fourth quarter ended December 31, 2025. Fourth Quarter and Full-Year Financial Comparisons: Fourth Quarter Highlights (amounts presented for continuing operations; all comparisons against the fourth quarter of 2024, unless otherwise noted) Full Year ...

Core Insights - SPX Technologies, Inc. reported strong financial results for Q4 and full-year 2025, with significant growth in Adjusted EBITDA and Adjusted EPS exceeding 20% [1][3] - The company anticipates continued double-digit growth in Adjusted EBITDA and Adjusted EPS for 2026, driven by strong customer demand and operational momentum [1][3] Financial Performance - Q4 2025 revenue reached $637.3 million, a 19.4% increase from Q4 2024's $533.7 million [2][3] - Full-year 2025 revenue was $2,265.1 million, up 14.2% from $1,983.9 million in 2024 [2][3] - Q4 2025 GAAP income from continuing operations was $78.2 million, a 38.4% increase from $56.5 million in Q4 2024 [2][3] - Full-year 2025 GAAP income from continuing operations was $245.5 million, up 21.7% from $201.8 million in 2024 [2][3] - Adjusted EBITDA for Q4 2025 was $142.0 million, a 22.3% increase from $116.1 million in Q4 2024 [2][3] - Full-year 2025 Adjusted EBITDA was $507.4 million, up 20.5% from $421.0 million in 2024 [2][3] Segment Performance - HVAC segment revenue for Q4 2025 was $431.1 million, a 16.4% increase from $370.5 million in Q4 2024 [5][34] - Detection & Measurement segment revenue for Q4 2025 was $206.2 million, a 26.3% increase from $163.2 million in Q4 2024 [8][34] - HVAC segment income for Q4 2025 was $108.5 million, representing a margin of 25.2% [5][34] - Detection & Measurement segment income for Q4 2025 was $47.9 million, with a margin of 23.2% [8][34] 2026 Guidance - For 2026, SPX expects total revenue in the range of $2.535 to $2.605 billion, reflecting approximately 13% year-over-year growth at the midpoint [3][14] - Adjusted EBITDA is projected to be between $590 million and $620 million, indicating a 20% year-over-year increase at the midpoint [3][14] - Adjusted EPS is expected to range from $7.60 to $8.00, representing a 15% year-over-year increase at the midpoint [3][14]

Core Viewpoint - SPX Technologies (SPXC) is expected to report quarterly earnings of $1.86 per share, reflecting a year-over-year increase of 23.2%, with revenues projected at $627.44 million, up 17.6% from the previous year [1] Group 1: Earnings and Revenue Estimates - The consensus EPS estimate for the upcoming quarter has remained unchanged over the last 30 days, indicating analysts' stable outlook [1] - The consensus estimate for 'Revenues- Detection & Measurement' is $197.64 million, suggesting a year-over-year increase of 21.1% [4] - 'Revenues- HVAC' is expected to reach $429.80 million, indicating a year-over-year change of 16% [4] Group 2: Segment Income Estimates - Analysts project 'Segment Income- Detection & Measurement' to be $45.83 million, compared to $37.60 million from the same quarter last year [4] - The expected 'Segment Income- HVAC' is $107.68 million, up from $91.80 million reported in the same quarter last year [5] Group 3: Stock Performance and Market Outlook - SPX Technologies shares have increased by 9.4% over the past month, contrasting with a -0.8% change in the Zacks S&P 500 composite [5] - With a Zacks Rank 2 (Buy), SPXC is anticipated to outperform the overall market in the near future [5]

Core Viewpoint - SPX Technologies (SPXC) is outperforming its peers in the Construction sector with a year-to-date return of 20.8%, compared to the sector average of 15.7% [4] Group 1: Company Performance - SPX Technologies is currently ranked 2 (Buy) in the Zacks Rank, indicating a positive outlook based on earnings estimates and revisions [3] - Over the past 90 days, the Zacks Consensus Estimate for SPXC's full-year earnings has increased by 1.5%, reflecting improved analyst sentiment [4] - SPX Technologies belongs to the Building Products - Air Conditioner and Heating industry, which has an average year-to-date return of 27.9%, indicating that SPXC is slightly underperforming its industry [6] Group 2: Sector and Industry Context - The Construction sector, which includes 92 individual stocks, is ranked 16 in the Zacks Sector Rank, measuring the strength of sector groups [2] - Another stock in the Construction sector, UFP Industries (UFPI), has outperformed with a year-to-date return of 22.8% and also holds a Zacks Rank of 2 (Buy) [5] - The Building Products - Wood industry, to which UFP Industries belongs, is currently ranked 175 and has a year-to-date return of 17.3% [7]