Core Insights - SPX Technologies reported strong fourth-quarter results with a 19.4% year-over-year revenue increase, driven by both acquisitions and organic growth across segments [2] - The company anticipates continued growth in 2026, with projected revenue between $2.535 billion and $2.605 billion, and adjusted EPS expected to rise by approximately 15% [6][20] HVAC Segment Performance - In the HVAC segment, fourth-quarter revenue grew by 16.4%, with organic revenue increasing by 10.3% and segment income rising by $17 million, or 18% [1] - The segment backlog reached $585 million, reflecting a 22% organic increase year-over-year [1] Detection & Measurement Segment Performance - The Detection & Measurement segment saw a revenue increase of 26.3% year-over-year, with organic revenue growth of 1.7% primarily due to higher project volumes [6] - Segment income grew by $10 million, or 27%, and backlog finished at $350 million, up 43% organically year-over-year [6] Financial Highlights - Adjusted earnings per share for the fourth quarter rose by 25% to $1.88, while full-year adjusted EPS increased by 21% to $6.76 [3] - Adjusted EBITDA for the fourth quarter increased by approximately 22% year-over-year, with a margin expansion of 50 basis points [2] Capital Investments and Capacity Expansion - SPX is investing approximately $100 million in capital expenditures for HVAC capacity expansion in 2026, following about $60 million in 2025 [5][9] - A new 459,000 square-foot facility in Alabama is expected to enhance manufacturing capabilities for custom air handling and data center solutions [7] Acquisitions and Strategic Growth - Recent acquisitions, including Thermelec and Air Enterprises, are expected to contribute approximately $35 million and low $80 million in annual revenue, respectively [11][12] - Data center revenue is projected to grow significantly, moving from about 9% of total revenue in 2025 to approximately 12% in 2026, with anticipated growth of around 50% [13] 2026 Guidance - Management provided guidance for 2026, forecasting HVAC revenue between $1.8 billion and $1.84 billion, and Detection & Measurement revenue between $735 million and $765 million [17] - The company expects adjusted EBITDA of $590 million to $620 million and adjusted EPS of $7.60 to $8.00 for 2026 [20]

Q4 2025 Earnings Presentation FEBRUARY 24, 2026 Q4 2025 EARNINGS PRESENTATION | COPYRIGHT © 2025 SPX TECHNOLOGIES 1 Q4 2025 EARNINGS PRESENTATION | COPYRIGHT © 2025 SPX TECHNOLOGIES FEBRUARY 24, 2026 2 | Introductory Comments Gene Lowe, President & Chief Executive Officer FEBRUARY 24, 2026 Q4 2025 EARNINGS PRESENTATION | COPYRIGHT © 2025 SPX TECHNOLOGIES 3 | Safe Harbor Statement Certain statements contained in this presentation that are not historical facts, including any statements as to future market con ...

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]

Financial Performance - Q3 2025 revenue increased by 23% to $593 million compared to $484 million in Q3 2024[13, 15] - Adjusted EBITDA for Q3 2025 grew by 31% to $136 million, up from $104 million in Q3 2024, with a margin expansion of 150 bps[15, 18] - Adjusted EPS for Q3 2025 was $1.84, compared to $1.39 in Q3 2024, representing a 32% growth[12, 23, 25] - Consolidated segment income increased by 22.6% year-over-year, with a 14.3% organic increase and an 8.2% impact from acquisitions[32] Segment Results - HVAC segment revenue increased by 15.5% to $387 million in Q3 2025, with a 9% organic increase and a 6.7% acquisition impact[36, 38] - Detection & Measurement segment revenue increased by 38.4% to $205 million in Q3 2025, driven by a 26.5% organic increase and an 11.6% acquisition impact[42, 44] - Detection & Measurement segment margin increased by 240 bps year-over-year[32, 44] Financial Position and Guidance - The company raised over $1 billion of additional capital through equity offering and credit facility refinancing, which is not dilutive to 2025 EPS[12] - Total debt decreased from $1.019 billion in Q2 2025 to $502 million in Q3 2025[47] - The company is raising its full-year 2025 adjusted EBITDA guidance to a midpoint of $505 million, implying 20% year-over-year growth[10] - Full-year 2025 revenue guidance is maintained at $2.225-$2.275 billion, with HVAC revenue projected at $1.500-$1.530 billion and Detection & Measurement at $725-$745 million[52]

Core Insights - SPX Technologies, Inc. reported strong third-quarter results for 2025, with significant year-over-year profit and margin growth across both segments, leading to an increase in full-year guidance for earnings [2][4] Financial Performance - Revenue for Q3 2025 reached $592.8 million, a 22.6% increase from $483.7 million in Q3 2024 [3][4] - Operating income rose to $97.1 million, up 23.1% from $78.9 million year-over-year [3][4] - Income from continuing operations increased by 24.0% to $63.1 million compared to $50.9 million in Q3 2024 [3][4] - GAAP EPS for Q3 2025 was $1.29, reflecting a 19.4% increase from $1.08 in Q3 2024 [3][4] - Adjusted EBITDA for Q3 2025 was $136.1 million, up 30.9% from $104.0 million in Q3 2024 [3][4] Segment Performance - HVAC segment revenue for Q3 2025 was $387.4 million, a 15.5% increase from $335.3 million in Q3 2024, with segment income rising to $94.4 million [6][29] - Detection & Measurement segment revenue increased by 38.4% to $205.4 million from $148.4 million in Q3 2024, with segment income growing to $51.7 million [8][29] Guidance Update - The company raised its full-year 2025 earnings guidance, projecting Adjusted EBITDA in the range of $495 to $515 million, representing a 20% year-over-year increase at the midpoint [2][4] - Revenue guidance for 2025 is maintained at $2.225 to $2.275 billion, indicating a ~13% year-on-year growth at the midpoint [4][13] Strategic Initiatives - The company is focusing on operational efficiencies and has a robust pipeline of acquisition opportunities, supported by a strengthened balance sheet following recent refinancing and equity raises [2][4] - Key organic initiatives include expansion plans for Engineered Air Movement businesses and the launch of the Olympus Max product [2]

Q1 2025 Performance Highlights - SPX Technologies achieved revenue growth of 3.7% in Q1 2025[13] - Adjusted EBITDA grew by 11.5%, with a 150 bps margin expansion[19] - Adjusted EPS for Q1 2025 reached $1.38[28] Segment Performance - HVAC revenue increased by 6.8% year-over-year, driven by organic growth and the Ingénia acquisition[38] - Detection & Measurement revenue decreased by 2.0%, but segment income increased due to favorable sales mix and project execution[44] Financial Position and Guidance - SPX Technologies is raising its 2025 guidance, projecting adjusted EBITDA in the range of $470 million to $495 million, implying a 15% growth at the midpoint[9,52] - Full-year revenue guidance is now $2.20 billion to $2.26 billion[52] - The company anticipates leverage below the low end of its 1.5x-2.5x target range by year-end[50] Strategic Initiatives - The acquisition of Sigma & Omega expands the value of HVAC solutions, particularly in the multi-story market, where hot water and cooling systems are typically 2X the value of cooling towers and boilers combined[9,24]

| --- | --- | --- | --- | |-----------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | SPX Technologies | | | | | Q2 2023 | | | | | | | | | | Earnings Presentation | | | | | August 2, 2023 | | | | Certain statements contained in this presentation that are not historical facts, including any statements as to future market conditions, results of operations, products introductions, and financial projections, are forward-looking statements within the meaning of Section 27A of the ...