CHARLOTTE, N.C., April 09, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) announced today that it will release its financial results for the first quarter of fiscal year 2025 after the U.S. financial markets close on Thursday, May 1, 2025. In conjunction with this announcement, SPX Technologies’ President and Chief Executive Officer Gene Lowe and SPX Technologies’ Vice President, Chief Financial Officer and Treasurer Mark Carano will discuss the Company’s financial results and business outlook ...

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SPX Technologies, Inc (NYSE:SPXC) Q4 2024 Earnings Call Transcript February 25, 2025 4:45 PM ET Company Participants Paul Clegg - Vice President, Investor Relations Gene Lowe - President and Chief Executive Officer Mark Carano - Vice President, Chief Financial Officer and Treasurer Conference Call Participants Bryan Blair - Oppenheimer Damian Karas - UBS Ross Sparenblek - William Blair Steve Ferazani - Sidoti Brad Hewitt - Wolfe Research Operator Good day, and thank you for standing by. Welcome to the Fourt ...

Core Viewpoint - SPX Technologies Inc. will host a tour of its Ingénia Technologies production facility on April 1, 2025, aimed at current and prospective investors as well as sell-side analysts [1][2] Company Overview - SPX Technologies is headquartered in Charlotte, North Carolina, and operates in over 15 countries with approximately 4,300 employees [5] - The company specializes in highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets [5] Ingénia Technologies - Ingénia Technologies, located in Mirabel, Quebec, specializes in the design and manufacture of custom air handling units, particularly for high-precision applications in healthcare, pharmaceutical, education, food processing, and industrial markets [3] - Acquired by SPX in early 2024, Ingénia is undergoing significant capacity expansion to meet increasing customer demand [4] - The company is investing in robotics, automation, and proprietary software to enhance speed to market and deliver significant value to customers [4]

For the quarter ended December 2024, SPX Technologies (SPXC) reported revenue of $533.7 million, up 13.7% over the same period last year. EPS came in at $1.51, compared to $1.25 in the year-ago quarter.The reported revenue represents a surprise of +0.46% over the Zacks Consensus Estimate of $531.23 million. With the consensus EPS estimate being $1.50, the EPS surprise was +0.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to deter ...

SPX Technologies (SPXC) came out with quarterly earnings of $1.51 per share, beating the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.67%. A quarter ago, it was expected that this infrastructure equipment supplier would post earnings of $1.38 per share when it actually produced earnings of $1.39, delivering a surprise of 0.72%.Over the last fo ...

Q4 2024 Earnings Presentation FEBRUARY 25, 2025 Q4 2024 EARNINGS PRESENTATION | COPYRIGHT © 2024 SPX TECHNOLOGIES 1 Safe Harbor Statement Certain statements contained in this presentation that are not historical facts, including any statements as to future market conditions, results of operations, product introductions, and financial projections, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, ...

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, 2024 ☐ 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) None (Title of class) Delaware 88-3567996 (State or ...

Financial Performance - Q4 2024 GAAP EPS was $1.19, up 78% from $0.67 in Q4 2023; Full-Year GAAP EPS was $4.29, up 38% from $3.10 in 2023[2] - Adjusted EPS for Q4 2024 was $1.51, a 20.8% increase from $1.25 in Q4 2023; Full-Year adjusted EPS was $5.58, up 29.5% from $4.31 in 2023[6][8] - Net income for the twelve months ended December 31, 2024, was $200.5 million, compared to $89.9 million in 2023, reflecting a significant growth[33] - Basic income per share from continuing operations for the year was $4.37, up from $3.18 in 2023, indicating a 37.5% increase[33] - Net income for the three months ended December 31, 2024, increased to $57.1 million, up 81.3% from $31.5 million in the same period of 2023[37] Revenue Growth - Q4 2024 revenue reached $533.7 million, a 13.7% increase from $469.4 million in Q4 2023; Full-Year revenue was $1,983.9 million, up 13.9% from $1,741.2 million in 2023[4][7] - Full-year revenues reached $1,983.9 million, representing a 14.0% increase compared to $1,741.2 million in 2023[33] - Consolidated revenues for the twelve months ended December 31, 2024, reached $1,983.9 million, a 13.9% increase from $1,741.2 million in 2023[39] - For the twelve months ended December 31, 2024, SPX Technologies reported a net revenue growth of 21.6% in the HVAC segment and a 0% growth in the Detection & Measurement segment[43] Segment Performance - HVAC segment revenue for Q4 2024 was $370.5 million, an 18.6% increase from $312.5 million in Q4 2023, driven by a 12.8% organic revenue increase[10] - Detection & Measurement segment revenue for Q4 2024 was $163.2 million, a 4.0% increase from $156.9 million in Q4 2023, with a 4.2% organic revenue increase[14] - Detection & Measurement reportable segment income increased by 27.0% to $37.6 million for the three months ended December 31, 2024, compared to $29.6 million in the same period of 2023[39] - Organic revenue growth for the HVAC segment was 9.7% and for the Detection & Measurement segment was a decline of 0.2% for the twelve months ended December 31, 2024[43] Operating Income - Adjusted operating income for Q4 2024 was $110.0 million, compared to $85.2 million in Q4 2023, reflecting a 29.1% increase; Full-Year adjusted operating income was $394.7 million, up 36.7% from $288.7 million in 2023[5][7] - Operating income for the three months ended December 31, 2024, was $90.2 million, a 42.9% increase from $63.1 million in the prior year[33] - Consolidated operating income for the twelve months ended December 31, 2024, was $308.3 million, reflecting an 86.4% increase from $221.9 million in the previous year[39] Cash and Debt Management - Total outstanding debt as of December 31, 2024, was $614.7 million, with total cash of $161.4 million; net operating cash generated for the full year was $313.1 million[18] - Cash and equivalents increased to $156.9 million from $99.4 million year-over-year, showing a 58.0% growth[35] - Long-term debt rose to $577.0 million from $523.1 million, indicating a 10.3% increase[35] - Total cash and equivalents at the end of the period increased to $161.4 million as of December 31, 2024, compared to $104.9 million at the end of 2023[37] - The company reported a net cash from operating activities of $285.9 million for the twelve months ended December 31, 2024, up from $208.5 million in the prior year[37] Future Outlook - The company anticipates 2025 adjusted EPS in the range of $6.00 to $6.25, indicating continued growth expectations[19] - For 2025, SPX targets consolidated revenue of approximately $2.13 to $2.19 billion, with adjusted EBITDA expected to be between $460 to $490 million[19] - The company anticipates continued growth driven by market expansion and new product development initiatives[28] Acquisitions and Investments - The company completed acquisitions of Ingénia and Kranze Technology Solutions, enhancing its position in HVAC and Communication Technologies[3] - The company incurred acquisition-related costs of $13.5 million for the twelve months ended December 31, 2024[45] - The company incurred capital expenditures of $38.0 million for the twelve months ended December 31, 2024, compared to $23.9 million in the previous year[37] Miscellaneous - Special charges, net for the three months ended December 31, 2024, amounted to $2.7 million, compared to $0.8 million in the same period of 2023[39] - The company experienced a foreign currency exchange rate impact of $2.0 million on cash for the twelve months ended December 31, 2024[41] - The company reported a gain on the sale of a building amounting to $3.3 million for the twelve months ended December 31, 2024[57]

Core Insights - SPX Technologies, Inc. reported significant growth in both Q4 and full-year 2024 financial results, with GAAP EPS increasing by 78% in Q4 and 38% for the full year compared to 2023 [1][6] - The company introduced guidance for 2025, projecting adjusted EPS in the range of $6.00 to $6.25, indicating continued confidence in growth [1][20] Financial Performance - Q4 2024 revenue reached $533.7 million, up from $469.4 million in Q4 2023, marking an increase of 13.7% [3][10] - Full-year 2024 revenue was $1,983.9 million, compared to $1,741.2 million in 2023, reflecting a growth of 13.9% [6][10] - Adjusted EPS for Q4 2024 was $1.51, a 20.8% increase from $1.25 in Q4 2023, while full-year adjusted EPS was $5.58, up 29.5% from $4.31 in 2023 [5][9] Segment Performance - The HVAC segment saw Q4 2024 revenue of $370.5 million, an 18.6% increase from $312.5 million in Q4 2023, driven by higher volumes of cooling products [11][12] - Detection & Measurement segment revenue for Q4 2024 was $163.2 million, a 4.0% increase from $156.9 million in Q4 2023, with organic revenue growth of 4.2% [15][16] Operational Highlights - SPX Technologies achieved an Adjusted EBITDA growth of 36% and Adjusted EPS growth of 29% for the full year 2024, nearing the top end of the guidance range [2] - The company made strategic acquisitions, including Ingénia in the HVAC segment and Kranze Technology Solutions in the Detection & Measurement segment, enhancing its market position [2] Cash Flow and Debt - As of December 31, 2024, SPX had total outstanding debt of $614.7 million and total cash of $161.4 million, with net operating cash from continuing operations of $166.7 million for Q4 2024 [19] - Capital expenditures for continuing operations were $9.8 million in Q4 2024 and $38.0 million for the full year [19] Future Outlook - The company anticipates healthy demand in key markets and expects another year of double-digit growth in Adjusted EBITDA and Adjusted EPS for 2025 [2][20]