Core Insights - SPX Technologies reported a strong financial performance for Q3 2024, with revenue of $483.7 million, a 7.8% increase from $448.7 million in Q3 2023, and a net income of $50.2 million compared to a loss of $20.4 million in the same period last year [3][10][21] - The company achieved significant margin expansion in both HVAC and Detection & Measurement segments, with Adjusted EBITDA growing by 27% to $104 million [4][5] - SPX is well-positioned to meet its full-year 2024 guidance, targeting Adjusted EBITDA in the range of $410-$430 million and Adjusted EPS between $5.45 and $5.60 [10][11] Financial Performance - Q3 2024 revenue was $483.7 million, up from $448.7 million in Q3 2023, while operating income increased to $78.9 million from $57.7 million [3][20] - Net income for Q3 2024 was $50.2 million, a significant recovery from a loss of $20.4 million in Q3 2023 [3][21] - Adjusted EPS for Q3 2024 was $1.39, compared to $1.06 in Q3 2023, reflecting a 31.1% increase [4][10] Segment Performance - HVAC segment revenue rose by 15.9% to $335.3 million, driven by a 9.0% increase in organic revenue and a 6.8% contribution from the acquisition of Ingénia [5][25] - Detection & Measurement segment revenue decreased by 7.0% to $148.4 million, primarily due to lower large project volumes in communication technologies [7][26] - Segment income for HVAC was $80.0 million (23.9% margin), while Detection & Measurement reported segment income of $33.8 million (22.8% margin) [6][8] Guidance and Outlook - The company narrowed its full-year 2024 revenue guidance to a range of $1.97-$2.00 billion, down from a previous range of $1.97-$2.02 billion [10][11] - SPX expects Adjusted EBITDA growth of approximately 35% and Adjusted EPS growth of approximately 28% at the midpoint of its guidance range [2][10] Cash Flow and Debt - As of September 28, 2024, SPX had total outstanding debt of $737.8 million and total cash of $129.4 million, with net operating cash flow from continuing operations totaling $77.0 million for Q3 2024 [9][31] - Capital expenditures for continuing operations in Q3 2024 were $7.9 million [9][29]

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, the Zacks Growth Style Score (part of the Zacks Style Scores sy ...

SPX Technologies (SPXC) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing earn ...

Wall Street expects a year-over-year increase in earnings on higher revenues when SPX Technologies (SPXC) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 30, 2024, might help the stock move higher if these key numbers are better ...

CHARLOTTE, N.C., Oct. 07, 2024 (GLOBE NEWSWIRE) -- SPX Technologies (NYSE:SPXC) announced today that it will release its financial results for the third quarter of fiscal year 2024 after the U.S. financial markets close on Wednesday, October 30, 2024. 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 d ...

CHARLOTTE, N.C., Sept. 30, 2024 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) announced today that its seventh annual sustainability report with data covering 2023 is available on the company's website at (https://www.spx.com/our-company/sustainability-reporting/). Gene Lowe, President and CEO of SPX Technologies commented, "I am pleased to present our latest sustainability report, sharing another year of progress. Sustainability is a key component of our value creation framework, and is embedded i ...

CHARLOTTE, N.C., Sept. 26, 2024 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) ("SPX", or the "Company"), is pleased to announce the appointment of Jennifer Carpenter as its new Chief Human Resources Officer (CHRO), effective September 30, 2024. She succeeds Tausha White, who earlier this year announced her decision to retire. Ms. Carpenter joins SPX with an extensive background of human resources and leadership experience. Gene Lowe, President and CEO, commented, "We are very pleased to welcome Jen ...

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has SPX Technologies (SPXC) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question. SPX Technologies is a member of the Business Services sector. This group includes 317 individual stocks and currently holds a Zacks Sector Rank of #6. The Za ...

SPX Technologies (SPXC) came out with quarterly earnings of $1.42 per share, beating the Zacks Consensus Estimate of $1.26 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.70%. A quarter ago, it was expected that this infrastructure equipment supplier would post earnings of $1.06 per share when it actually produced earnings of $1.25, delivering a surprise of 17.92%. Over the las ...

Core Viewpoint - SPX Technologies (SPXC) is anticipated to report a year-over-year increase in earnings driven by higher revenues, with the consensus EPS estimate at $1.26, reflecting an 18.9% increase from the previous year [2][4]. Earnings Expectations - The earnings report is scheduled for August 1, 2024, and could influence the stock price positively if results exceed expectations, while a miss could lead to a decline [3]. - Revenues are projected to reach $490.93 million, marking a 16% increase from the same quarter last year [5]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.75% over the last 30 days, indicating a reassessment by analysts [6]. - The Most Accurate Estimate for SPX Technologies is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +1.59%, suggesting a likelihood of beating the consensus EPS estimate [12][13]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [10]. - SPX Technologies has a history of delivering earnings surprises, with a previous quarter's earnings of $1.25 per share exceeding expectations of $1.06, resulting in a surprise of +17.92% [19]. Industry Comparison - Another player in the industry, Parsons, is expected to report earnings of $0.66 per share, reflecting a year-over-year change of +4.8%, with revenues projected at $1.53 billion, up 12.8% from the previous year [22]. - Parsons has a Zacks Rank of 2 (Buy) but has a negative Earnings ESP of -0.97%, making it difficult to predict an earnings beat conclusively [16][23]. Conclusion - SPX Technologies is positioned as a compelling candidate for an earnings beat, but investors should consider other factors influencing stock performance beyond earnings results [21].