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 ...

Company Performance - SPX Technologies (SPXC) has achieved a year-to-date performance increase of approximately 48.2%, significantly outperforming the average return of 8.4% for the Business Services sector [4] - The Zacks Consensus Estimate for SPXC's full-year earnings has increased by 3.3% over the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [3] Industry Ranking - SPX Technologies is part of the Technology Services industry, which consists of 171 companies and currently ranks 88 in the Zacks Industry Rank. This industry has seen an average gain of 20.4% year-to-date, with SPXC outperforming this average [5] - The Business Services group, which includes SPX Technologies, ranks 5 within the Zacks Sector Rank, which encompasses 16 different groups [2] Comparison with Peers - Envestnet (ENV), another company in the Business Services sector, has returned 27.2% year-to-date and also holds a Zacks Rank of 2 (Buy) [4][5] - The Financial Transaction Services industry, to which Envestnet belongs, is ranked 84 and has experienced a 6% increase this year [6]

Core Viewpoint - SPX Technologies reported strong quarterly earnings, surpassing estimates and showing significant year-over-year growth in both earnings and revenues [1][2]. Financial Performance - The company achieved quarterly earnings of $1.42 per share, exceeding the Zacks Consensus Estimate of $1.26 per share, and up from $1.06 per share a year ago, representing an earnings surprise of 12.70% [1]. - Revenues for the quarter reached $501.3 million, surpassing the Zacks Consensus Estimate by 2.11%, and increased from $423.3 million in the same quarter last year [2]. Market Performance - SPX Technologies shares have appreciated approximately 46.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 15.8% [3]. Future Outlook - The company's earnings outlook is crucial for assessing future stock performance, with current consensus EPS estimates at $1.32 for the next quarter and $5.37 for the current fiscal year, alongside projected revenues of $503.2 million and $2 billion respectively [7]. - The Zacks Rank for SPX Technologies is currently 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6]. Industry Context - The Technology Services industry, to which SPX Technologies belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8].

Group 1: Company Performance - SPX Technologies has returned 47.2% year-to-date, significantly outperforming the average return of 8.5% for Business Services companies [6] - Seagate has achieved a year-to-date return of 21.1%, also outperforming the Business Services sector [7] - SPX Technologies holds a Zacks Rank of 2 (Buy), indicating a strong earnings outlook [5][6] Group 2: Earnings Estimates - The consensus EPS estimate for Seagate has increased by 32.3% over the past three months, reflecting improved analyst sentiment [2] - SPX Technologies' full-year earnings estimate has moved 6.3% higher in the past quarter, indicating a stronger earnings outlook [6] Group 3: Industry Context - SPX Technologies is part of the Technology Services industry, which consists of 170 companies and currently ranks 87 in the Zacks Industry Rank [8] - The Technology Services industry has gained an average of 18% year-to-date, with SPX Technologies outperforming this average [8]

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].

Call Access: To access the call by phone, please use the following link to receive dial-in details https://register.vevent.com/register/BI897f7ff93cf54486873d06ecf7d4508e. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at www.spx.com. In conjunction with this announcement, SPX Technologies' President and Chief Executive Officer Gene Lowe and SPX Technologies' Vice ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...