SPX Reports Fourth Quarter and Full-Year 2025 Results

Core Insights - SPX Technologies, Inc. reported strong financial results for Q4 and full-year 2025, with significant growth in Adjusted EBITDA and Adjusted EPS exceeding 20% [1][3] - The company anticipates continued double-digit growth in Adjusted EBITDA and Adjusted EPS for 2026, driven by strong customer demand and operational momentum [1][3] Financial Performance - Q4 2025 revenue reached $637.3 million, a 19.4% increase from Q4 2024's $533.7 million [2][3] - Full-year 2025 revenue was $2,265.1 million, up 14.2% from $1,983.9 million in 2024 [2][3] - Q4 2025 GAAP income from continuing operations was $78.2 million, a 38.4% increase from $56.5 million in Q4 2024 [2][3] - Full-year 2025 GAAP income from continuing operations was $245.5 million, up 21.7% from $201.8 million in 2024 [2][3] - Adjusted EBITDA for Q4 2025 was $142.0 million, a 22.3% increase from $116.1 million in Q4 2024 [2][3] - Full-year 2025 Adjusted EBITDA was $507.4 million, up 20.5% from $421.0 million in 2024 [2][3] Segment Performance - HVAC segment revenue for Q4 2025 was $431.1 million, a 16.4% increase from $370.5 million in Q4 2024 [5][34] - Detection & Measurement segment revenue for Q4 2025 was $206.2 million, a 26.3% increase from $163.2 million in Q4 2024 [8][34] - HVAC segment income for Q4 2025 was $108.5 million, representing a margin of 25.2% [5][34] - Detection & Measurement segment income for Q4 2025 was $47.9 million, with a margin of 23.2% [8][34] 2026 Guidance - For 2026, SPX expects total revenue in the range of $2.535 to $2.605 billion, reflecting approximately 13% year-over-year growth at the midpoint [3][14] - Adjusted EBITDA is projected to be between $590 million and $620 million, indicating a 20% year-over-year increase at the midpoint [3][14] - Adjusted EPS is expected to range from $7.60 to $8.00, representing a 15% year-over-year increase at the midpoint [3][14]