CHARLOTTE, N.C., May 01, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX”, the “Company”, “we” or “our”) today reported results for the first quarter ended March 29, 2025. First Quarter Highlights (amounts presented for continuing operations; all comparisons against the first quarter of 2024, unless otherwise noted) Revenue of $482.6 million, up 3.7%, including 0.4% organicallyGAAP income from continuing operations of $51.7 million, up 5.1%GAAP EPS of $1.10, up 4.8%Adjusted EPS* of $1.38, ...

CHARLOTTE, N.C., April 15, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) ("SPX Technologies" or the "Company") announced today that it has completed the acquisition of Sigma Heating and Cooling and Omega Heat Pump ("Sigma & Omega"). The purchase price of approximately $144 million (CAD 200 million) reflects an acquisition multiple consistent with SPX's typical range of 8x-12x Adjusted EBITDA*. Founded in 1997, Sigma & Omega is a Toronto-based manufacturer of highly engineered hydronic heating ...

Expands HVAC Solutions to Include Vertical Heat Pumps and Self Contained Units; Highly Complementary Products and ChannelsCHARLOTTE, N.C., April 15, 2025 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX Technologies” or the “Company”) announced today that it has completed the acquisition of Sigma Heating and Cooling and Omega Heat Pump (“Sigma & Omega”). The purchase price of approximately $144 million (CAD 200 million) reflects an acquisition multiple consistent with SPX’s typical range of 8x-1 ...

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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Financial Data and Key Metrics Changes - Full year adjusted EBITDA increased by 36% and adjusted EPS grew by 29% to $5.58, near the upper end of guidance [8][18] - For Q4, total company revenue increased by 13.7% year-on-year, with organic revenue growth of 9.9% and a contribution of 4% from the Ingénia acquisition [19][10] - Adjusted EBITDA for Q4 increased by 28.1% year-on-year with a margin expansion of 250 basis points [11] Business Line Data and Key Metrics Changes - In the HVAC segment, revenues grew by 18.6% year-on-year, with organic growth of 12.8% driven by cooling and a 6% contribution from the Ingénia acquisition [20] - Detection and Measurement segment organic revenues grew by 4.2% year-on-year, with segment income increasing by 27% and margin expanding by 410 basis points [22][23] Market Data and Key Metrics Changes - Segment backlog at the end of Q4 was approximately $437 million for HVAC and $221 million for Detection and Measurement, with the latter up 14% sequentially from Q3 [22][23] - More than 80% of revenue comes from the United States, with the company well-positioned to navigate potential tariff changes [30] Company Strategy and Development Direction - The company aims for continued solid growth in 2025, with guidance reflecting double-digit growth in adjusted EBITDA and EPS [10][34] - The acquisition of Kranze Technology Solutions (KTS) is expected to enhance the communication technologies platform and broaden access to growth markets [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the economic environment, noting solid demand in HVAC cooling across key markets like data centers and healthcare [32][34] - The company is monitoring potential impacts from the new administration on government spending but currently sees no adverse effects on project opportunities [97][100] Other Important Information - Full year adjusted free cash flow was approximately $284 million, reflecting a conversion of adjusted net income of 108% [25] - The company anticipates revenue for 2025 in the range of $2.13 billion to $2.19 billion, with adjusted EPS guidance of $6 to $6.25 [26] Q&A Session Summary Question: Insights on full year guidance and key watch items - Management highlighted the importance of weather dynamics and non-residential momentum in HVAC as key factors influencing guidance [40][41] Question: Data center revenue performance and expectations - Data center revenue was around 7% of total company revenue in 2024, with expectations for similar or better performance in 2025 [46] Question: Financial contribution from KTS and market expansion - KTS is expected to contribute approximately $80 million in revenue for the year, with significant growth opportunities identified in military applications [48][51] Question: Project activity in Detection and Measurement - Management noted that project activity is healthy, with many larger orders leading to longer lead times for execution [62][66] Question: Impact of tariffs and sourcing strategies - The company is well-positioned to manage potential tariff changes, with a sourcing model that minimizes exposure [30] Question: Changes in M&A strategy - The company remains focused on engineered products and technology-heavy businesses, with an active pipeline of acquisition opportunities [102][106]

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, ...