SPX Technologies (NYSE:SPXC) Releases Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• SPX beat estimates with adjusted Q1 EPS of $1.69 vs. $1.55 expected and revenue up 17.4% to $566.8M, and it updated FY2026 guidance to roughly $7.75–$8.15 (midpoint ≈ $7.95), raising the outlook.
• Data center demand is driving HVAC growth (HVAC revenue +22%, backlog $755M, organic backlog +38%), prompting capacity expansions in Olathe, Tennessee and Alabama to support higher volumes.
• Section 232 tariff changes pose a near‑term headwind — about $10M gross cost (company expects to offset ~50% via pricing) with a concentrated $0.05–$0.10 EPS impact in Q2 and minimal long‑term effect expected.

SPX Technologies (NYSE:SPXC - Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.14, FiscalAI reports. SPX Technologies had a return on equity of 17.82% and a net margin of 10.77%.The business had revenue of $566.80 million during the quarter, compared to analyst estimates of $558.55 million. During the same quarter last year, the company posted $1.38 EPS. SPX Technologies's revenue for the quarter was up 17.4% on a year-over-year basis. SPX Technologies updated its FY 2026 guidance to 7.750-8.150 EPS.

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

• SPX delivered a strong Q1 — adjusted EPS +22% to $1.69, revenue +17.4% and adjusted EBITDA +23% — and raised full‑year adjusted EPS midpoint by $0.15 to $7.95 (guidance implies ~21% adjusted EBITDA growth).
• Data center demand is driving HVAC strength (HVAC revenue +22%, backlog $755M, organic backlog +38%), and management is expanding capacity (Olathe, TAMCO Tennessee, Madison AL) to support substantially higher data‑center volumes.
• Changes to the Section 232 tariffs create a near‑term headwind — a roughly $10M gross cost (company expects to offset ~50% via pricing), a $0.05–$0.10 EPS impact concentrated in Q2, and minimal expected impact in 2027.
• Detection & Measurement showed margin leverage (revenue +8.3%, segment income +28%, margin +410bps) driven by expanded high‑margin software work and new offerings like Locate Performance Management, which helped lift the company outlook.
• Financial flexibility is intact — $158M cash, $674M debt (leverage ~0.9x), ~$60M proceeds from a divestiture and an active M&A pipeline — leaving room for accretive deals; recent acquisitions (Air Enterprises, Rahn, Thermolec, KTS) are integrating as planned.

SPX Technologies Stock Up 3.6%

NYSE SPXC traded up $7.57 during trading on Thursday, reaching $218.93. 878,812 shares of the company's stock were exchanged, compared to its average volume of 445,340. SPX Technologies has a fifty-two week low of $134.27 and a fifty-two week high of $246.68. The firm has a market capitalization of $10.99 billion, a PE ratio of 43.70, a P/E/G ratio of 1.62 and a beta of 1.34. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 0.22. The company's fifty day simple moving average is $212.45 and its 200-day simple moving average is $211.55.

Analyst Upgrades and Downgrades

SPXC has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on SPX Technologies from $270.00 to $225.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Oppenheimer increased their price target on SPX Technologies from $240.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. initiated coverage on SPX Technologies in a research report on Wednesday, March 4th. They issued an "overweight" rating and a $260.00 price target for the company. Truist Financial increased their price target on SPX Technologies from $244.00 to $251.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Finally, BMO Capital Markets began coverage on SPX Technologies in a research report on Friday, March 27th. They issued an "outperform" rating and a $243.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $245.56.

Institutional Investors Weigh In On SPX Technologies

A number of institutional investors have recently bought and sold shares of SPXC. Oxford Asset Management LLP purchased a new stake in shares of SPX Technologies during the 4th quarter worth about $214,000. Cambient Family Office LLC purchased a new stake in shares of SPX Technologies during the 4th quarter worth about $206,000. CIBC Private Wealth Group LLC raised its stake in shares of SPX Technologies by 7.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company's stock worth $188,000 after purchasing an additional 62 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of SPX Technologies during the 3rd quarter worth about $112,000. Finally, Empowered Funds LLC purchased a new stake in shares of SPX Technologies during the 4th quarter worth about $83,000. 92.82% of the stock is currently owned by institutional investors and hedge funds.

About SPX Technologies

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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