SPX Technologies (NYSE:SPXC) Announces Earnings Results

Key Points

• SPX Technologies beat quarterly expectations: EPS was $2.02 versus the $1.85 consensus, while revenue rose 22.9% year over year to $679 million, exceeding estimates.
• Management raised its outlook: Fiscal 2026 EPS guidance is $8.20–$8.60, with strong data-center demand lifting projected full-production capacity to approximately $1.1 billion. HVAC backlog also climbed 59% organically to $919 million.
• Investor sentiment remains favorable but valuation is elevated: Analysts maintain a “Moderate Buy” consensus with a $255.30 target price, although shares trade below key moving averages and at a premium earnings multiple.

SPX Technologies (NYSE:SPXC - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.17, FiscalAI reports. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $640.18 million. During the same period last year, the company posted $1.65 EPS. The business's quarterly revenue was up 22.9% on a year-over-year basis. SPX Technologies updated its FY 2026 guidance to 8.200-8.600 EPS.

Here are the key takeaways from SPX Technologies' conference call:

• Positive Sentiment: SPX reported a strong second quarter, with revenue up 23% year over year, adjusted EBITDA up 20%, and adjusted EPS up 22% to $2.02. Management raised full-year adjusted EPS guidance by $0.45 to a midpoint of $8.40, implying 27% adjusted EBITDA growth.
• Positive Sentiment: Robust data-center demand and improved production throughput led SPX to raise expected full-production data-center capacity to approximately $1.1 billion, versus its prior estimate of $750 million. Full production is still expected primarily in the second half of 2028, with a potential to accelerate if execution remains strong.
• Positive Sentiment: HVAC backlog increased 59% organically to $919 million, while data-center revenue expectations for 2026 rose to $430 million. The company cited strong hyperscaler visibility, customer relationships, and long-term agreements supporting continued growth.
• Positive Sentiment: The Neptronic acquisition expands SPX’s HVAC portfolio into controls, humidification, electric heating, and actuated valves, including products serving data centers. Management expects high-single-digit growth, sustainable margins above the HVAC segment average, and approximately $0.05–$0.06 of 2026 EPS accretion.
• Neutral Sentiment: Detection & Measurement delivered a 43% increase in segment income and a 610-basis-point margin expansion, but roughly half of the margin improvement reflected favorable project mix and much of the remainder came from a $15 million project pulled forward from the third quarter. Management expects fourth-quarter results to exceed third-quarter levels, while full-year D&M revenue is expected to be roughly flat before returning to normal growth thereafter.

SPX Technologies Stock Up 6.1%

NYSE:SPXC traded up $11.51 on Thursday, hitting $199.16. The stock had a trading volume of 728,143 shares, compared to its average volume of 562,370. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. SPX Technologies has a 52 week low of $179.17 and a 52 week high of $251.08. The business's fifty day moving average is $224.39 and its 200 day moving average is $217.59. The company has a market cap of $9.97 billion, a PE ratio of 26.58, a P/E/G ratio of 1.38 and a beta of 1.27.

Analyst Upgrades and Downgrades

SPXC has been the topic of several recent analyst reports. Truist Financial boosted their price target on SPX Technologies from $261.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of SPX Technologies from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Wolfe Research reiterated an "outperform" rating and issued a $266.00 price objective on shares of SPX Technologies in a research note on Thursday, July 9th. Wall Street Zen lowered shares of SPX Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, B. Riley Financial restated a "buy" rating on shares of SPX Technologies in a report on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $255.30.

Hedge Funds Weigh In On SPX Technologies

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in SPX Technologies by 62.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company's stock valued at $71,000 after purchasing an additional 164 shares during the period. Advisory Services Network LLC bought a new position in shares of SPX Technologies in the third quarter valued at $74,000. Danske Bank A S bought a new position in shares of SPX Technologies in the third quarter valued at $75,000. Johnson Financial Group Inc. acquired a new position in shares of SPX Technologies during the third quarter valued at about $76,000. Finally, NewEdge Advisors LLC increased its position in shares of SPX Technologies by 21.8% during the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock worth $80,000 after acquiring an additional 112 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies News Roundup

Here are the key news stories impacting SPX Technologies this week:

• Positive Sentiment: Q2 earnings and revenue exceeded estimates. SPXC reported adjusted earnings of $2.02 per share, ahead of the $1.85 consensus and up from $1.65 a year earlier. Revenue rose 22.9% year over year to $679 million, surpassing analysts’ $640.18 million forecast. SPX Technologies Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Full-year guidance is above consensus. SPX raised or reaffirmed fiscal 2026 EPS guidance at $8.20-$8.60, compared with the $8.02 analyst estimate. Revenue guidance of $2.7-$2.8 billion also exceeds the $2.6 billion consensus, signaling continued confidence in demand and execution. SPX Reports Second Quarter 2026 Results
• Positive Sentiment: Profitability remained solid. The company reported a 10.76% net margin and 16.98% return on equity, while quarterly earnings growth suggests improving operating performance. SPX Technologies Earnings Report
• Neutral Sentiment: Analysts’ average rating remains “Moderate Buy,” providing supportive but not uniformly bullish sentiment around SPXC. SPX Technologies Receives Moderate Buy Recommendation
• Negative Sentiment: At roughly 39 times earnings, SPXC carries a premium valuation. The shares also remain below their 50-day and 200-day moving averages, which could limit gains if investors believe the strong results were already reflected in the price.

SPX Technologies Company Profile

SPX Technologies NYSE: SPXC is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company's Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.

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