SPX Technologies (NYSE:SPXC) Posts Earnings Results, Beats Expectations By $0.01 EPS

SPX Technologies (NYSE:SPXC) posted its quarterly earnings results on Wednesday. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01, Briefing.com reports. The firm had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share. SPX Technologies updated its FY24 guidance to $5.45-5.60 EPS and its FY 2024 guidance to 5.450-5.600 EPS.

SPX Technologies Stock Performance

Shares of SPXC opened at $145.20 on Friday. The stock has a market capitalization of $6.72 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. The business’s fifty day moving average price is $157.76 and its 200 day moving average price is $146.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 0.81. SPX Technologies has a 12-month low of $77.90 and a 12-month high of $173.30.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.