Financial Performance - HVAC reportable segment revenues were $1,364.7 million in 2024, up from $1,122.3 million in 2023 and $913.8 million in 2022, indicating a growth of approximately 21.6% year-over-year from 2023 to 2024[30] - Detection and Measurement reportable segment revenues were $619.2 million in 2024, slightly increasing from $618.9 million in 2023 and $547.1 million in 2022, with a backlog of $220.9 million as of December 31, 2024[31] - International sales reached $343.1 million in 2024, compared to $287.1 million in 2023 and $237.4 million in 2022[38] Backlog and Revenue Recognition - The backlog for the HVAC segment was $436.8 million as of December 31, 2024, compared to $306.1 million in 2023, representing an increase of 42.5%[30] - Approximately 88% of the HVAC segment's backlog as of December 31, 2024, is expected to be recognized as revenue during 2025[30] - The segment's backlog was $220.9 million as of December 31, 2024, with approximately 58% expected to be recognized as revenue in 2025[31] Acquisitions and Strategic Growth - The company completed the acquisition of T.A. Morrison & Co. Inc. on April 3, 2023, enhancing its HVAC reportable segment[20] - The acquisition of ASPEQ Heating Group on June 2, 2023, further strengthened the company's position in the HVAC market[21] - The company acquired Ingénia Technologies Inc. on February 7, 2024, specializing in custom air handling units for various end markets[22] - The company acquired KTS in January 2025, Ingénia in 2024, and TAMCO and ASPEQ in 2023, indicating ongoing strategic acquisitions[34] Innovation and Patents - The company holds 227 domestic and 402 foreign patents, with 24 patents issued in 2024, reflecting a strong focus on innovation[42] - The company emphasizes research and development to improve existing products and develop new ones, aligning with market needs[40] - The company emphasizes research and development to improve existing products and develop new ones, coordinating resources across divisional engineering teams[40] Global Presence and Workforce - The company has operations in over 15 countries and approximately 4,300 employees, indicating a strong global presence[25] - Approximately 4,300 employees were reported as of December 31, 2024, with 3,300 based in the United States[51] Labor Relations and Employee Engagement - The company has experienced satisfactory labor relations, although it remains subject to potential union campaigns and labor disputes[52] - In 2024, the company trained 275 leaders through the "Frontline Leaders Program" and 92 leaders completed the "Amplified Leadership" midlevel program[54] - The updated Global Employee Survey achieved over 90% employee participation, informing action plans focused on employee priorities[55] Financial Management - The company has maintained sufficient working capital levels to support customer requirements, particularly in inventory management[57] Seasonal Trends - Historically, the company's businesses tend to be stronger in the second half of the year, indicating seasonal fluctuations[58]

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]

Group 1 - SPX Technologies (SPXC) is expected to report quarterly earnings of $1.50 per share, reflecting a year-over-year increase of 20% [1] - Revenues for SPXC are projected to be $531.23 million, which represents a 13.2% increase from the same quarter last year [1] - There have been no revisions in the consensus EPS estimate over the last 30 days, indicating stability in analysts' forecasts [1] Group 2 - Analysts predict that 'Revenues- Detection & Measurement' will reach $153.22 million, showing a decline of 2.4% year-over-year [4] - The 'Revenues- HVAC' segment is expected to generate $378.10 million, indicating a 21% increase compared to the previous year [4] - 'Segment Income- Detection & Measurement' is projected to be $31.80 million, up from $29.60 million year-over-year [4] Group 3 - 'Segment Income- HVAC' is anticipated to reach $90.86 million, compared to $73.20 million from the previous year [5] - SPX Technologies shares have decreased by 7.7% in the past month, contrasting with the Zacks S&P 500 composite's decline of 0.5% [6] - SPXC holds a Zacks Rank 3 (Hold), suggesting it is expected to closely follow overall market performance in the near term [6]

Core Viewpoint - SPX Technologies, Inc. has completed the acquisition of Kranze Technology Solutions, Inc. (KTS), enhancing its Communication Technologies platform and expected to positively impact adjusted earnings per share in 2025 [1][2]. Group 1: Acquisition Details - The acquisition of KTS, a leader in digital interoperability and tactical networking solutions, is expected to be modestly accretive to SPX's adjusted earnings per share from continuing operations in 2025 [1]. - KTS's technology is highly complementary to SPX's existing offerings in tactical datalinks, communications intelligence, and RF countermeasures, thereby expanding SPX's market position [2]. Group 2: Company Background - SPX Technologies is a supplier of engineered products and technologies, holding leadership positions in HVAC and detection and measurement markets, with over 4,100 employees across 15 countries [3]. - The company is publicly traded on the New York Stock Exchange under the ticker symbol "SPXC" [3]. Group 3: Leadership Statements - Gene Lowe, President and CEO of SPX Technologies, expressed excitement about the acquisition, highlighting the growth opportunities it presents across global markets [2]. - Richard Kranze, co-founder of KTS, emphasized the potential for enhanced value creation for employees, customers, and shareholders through the integration of resources and technology [2].

Core Viewpoint - SPX Technologies has completed the acquisition of Kranze Technology Solutions, enhancing its Communication Technologies platform and expected to positively impact adjusted earnings per share in 2025 [1][2]. Company Overview - SPX Technologies is a supplier of engineered products and technologies, holding leadership positions in HVAC and detection and measurement markets, with over 4,100 employees across 15 countries [3]. Acquisition Details - Kranze Technology Solutions, founded in 2008, specializes in digital interoperability and tactical networking solutions, which are expected to complement SPX's existing offerings in tactical datalinks and communications intelligence [2][3]. - The acquisition is anticipated to be modestly accretive to SPX's adjusted earnings per share from continuing operations in 2025, with further guidance to be provided on February 25, 2025 [1][2]. Strategic Implications - The acquisition significantly scales SPX's position in Communication Technologies and expands value creation opportunities in complementary growth markets [2]. - The integration of KTS's technology and customer relationships is expected to create numerous growth opportunities for SPX's employees, customers, and shareholders [2].

Group 1 - SPX Technologies, Inc. will release its financial results for Q4 and full-year fiscal year 2024 on February 25, 2025, after U.S. financial markets close [1] - The conference call to discuss the financial results and business outlook will take place on February 25, 2025, at 4:45 p.m. Eastern Time [2] - The call will be available via webcast, and slides will be accessible in the Investor Relations section of the company's website [3] Group 2 - SPX Technologies is a supplier of highly engineered products and technologies, with leadership positions in the HVAC and detection and measurement markets [5] - The company is based in Charlotte, North Carolina, and employs over 4,100 people across 15 countries [5] - SPX Technologies is listed on the New York Stock Exchange under the ticker symbol "SPXC" [5]

Group 1 - SPX Technologies, Inc. (SPXC) is experiencing significant attention from investors due to high implied volatility in its options market, particularly the Mar 21, 2025 $70.00 Call option [1] - Implied volatility indicates the market's expectation of future stock movement, suggesting potential upcoming events that could lead to substantial price changes [2] - Analysts currently rate SPX Technologies as a Zacks Rank 3 (Hold) within the Technology Services industry, which is in the top 30% of the Zacks Industry Rank [3] Group 2 - Over the past 60 days, one analyst has raised their earnings estimate for SPX Technologies for the current quarter, increasing the Zacks Consensus Estimate from $1.49 to $1.51 per share [3] - The high implied volatility may indicate a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay [4]

Core Insights - Walgreens Boots Alliance Inc (WBA) has significantly declined, dropping 63.9% in 2024 and reaching a record low of $8.08 on November 21, marking it as the worst-performing stock on the S&P 500 Index [1][4] - The stock has seen increased options trading activity, with 32,235 calls traded compared to 5,003 puts over the past two weeks, indicating a bullish sentiment among traders [2] - The upcoming fiscal first-quarter earnings report on January 9 is anticipated to be a pivotal moment for the stock, with the options market pricing in a 9.7% post-earnings move [4][6] Trading Activity - The elevated Schaeffer's Volatility Scorecard (SVS) of 95 out of 100 suggests that WBA has a tendency to outperform volatility expectations, which may attract premium players [3] - The 10-day call/put volume ratio of 6.44 indicates a rare skew in options trading, with short interest rising by 15.8% in recent reporting periods, potentially reflecting hedging strategies by short sellers [5] Historical Performance - WBA has a mixed history of post-earnings reactions, with a notable 15.8% increase following the October earnings report, contrasted by a 22.2% decline after the June report [6]

Core Viewpoint - SPX Technologies has announced a definitive agreement to acquire Kranze Technology Solutions, Inc. for approximately $350 million in cash, enhancing its Communication Technologies platform within the Detection & Measurement segment [1][6]. Group 1: Acquisition Details - The acquisition is expected to close in the first quarter of 2025, pending regulatory approval under the Hart-Scott-Rodino Act [2]. - SPX Technologies plans to finance the acquisition through its revolving credit facility, with the deal anticipated to be modestly accretive to adjusted earnings per share in 2025 after interest costs [2][6]. Group 2: Strategic Fit and Growth Potential - KTS will strengthen SPX's long-term customer relationships and geographic footprint, particularly within the US military sector, where KTS has established a significant installed base [3][5]. - The acquisition will scale SPX's CommTech platform to over $200 million in revenue, providing a solid foundation for further growth in adjacent markets [7]. Group 3: Company Profiles - SPX Technologies is a supplier of engineered products and technologies, with over 4,100 employees across 15 countries, and is listed on the New York Stock Exchange under the ticker symbol "SPXC" [3]. - KTS, founded in 2008, specializes in digital interoperability and tactical networking solutions, enhancing situational awareness and operational effectiveness for clients, particularly the US Marine Corps [8].