SPX Technologies (NYSE:SPXC) Stock Price Up 15.4% After Better-Than-Expected Earnings

Key Points

• SPX Technologies beat quarterly expectations: EPS rose to $2.02 from $1.65 a year earlier, exceeding the $1.85 consensus, while revenue climbed 22.9% year over year to $679 million.
• Management raised its 2026 outlook to adjusted EPS of $8.20–$8.60 and revenue of $2.7–$2.8 billion, supported by approximately $1.1 billion in data-center-related capacity across its cooling and power-infrastructure businesses.
• Shares surged 15.4% to about $229.93 after the results. Analysts maintain a “Moderate Buy” consensus with a $255.30 price target, though the stock’s roughly 45-times earnings valuation leaves it sensitive to any slowdown in growth.

SPX Technologies, Inc. (NYSE:SPXC - Get Free Report) shares rose 15.4% on Friday following a better than expected earnings announcement. The stock traded as high as $236.89 and last traded at $229.9320. Approximately 132,535 shares changed hands during trading, a decline of 77% from the average daily volume of 575,165 shares. The stock had previously closed at $199.30.

The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.85 by $0.17. SPX Technologies had a return on equity of 16.98% and a net margin of 10.76%.The business had revenue of $679.00 million for the quarter, compared to analyst estimates of $640.18 million. During the same quarter in the prior year, the company posted $1.65 EPS. The company's quarterly revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS.

SPX Technologies News Summary

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

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. SPX Technologies reported adjusted EPS of $2.02, up from $1.65 a year earlier and above the $1.85 analyst consensus. Revenue increased 22.9% year over year to $679 million, surpassing estimates of approximately $640 million. SPX Technologies Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management raised 2026 guidance. Full-year adjusted EPS is now expected at $8.20-$8.60, with a midpoint of $8.40, above the prior outlook and the roughly $8.02 consensus estimate. Revenue guidance of $2.7 billion-$2.8 billion also exceeds Wall Street expectations of about $2.6 billion. SPX Technologies Signals Data Center Capacity and Lifts 2026 EPS Guidance
• Positive Sentiment: Data-center exposure strengthened the growth outlook. The company highlighted approximately $1.1 billion of data-center-related capacity, supporting expectations for continued demand across its HVAC, cooling and power-infrastructure businesses. SPX Technologies Q2 Earnings Call Highlights
• Neutral Sentiment: Analysts maintain an overall “Moderate Buy” rating, while SPXC trades at a relatively elevated valuation of about 46 times earnings and near its 12-month high. That valuation could increase sensitivity to any slowdown in growth or future guidance.

Analyst Ratings Changes

SPXC has been the topic of a number of recent analyst reports. Truist Financial upped their target price on shares of SPX Technologies from $261.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Oppenheimer reiterated an "outperform" rating and set a $280.00 price target (up from $272.00) on shares of SPX Technologies in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted their price target on shares of SPX Technologies from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Weiss Ratings restated a "buy (b-)" rating on shares of SPX Technologies in a report on Wednesday, July 8th. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $266.00 price objective on shares of SPX Technologies in a research report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $255.30.

Institutional Investors Weigh In On SPX Technologies

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of SPX Technologies by 8.1% in the first quarter. Royal Bank of Canada now owns 38,386 shares of the company's stock worth $4,942,000 after acquiring an additional 2,892 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of SPX Technologies by 74.5% in the first quarter. AQR Capital Management LLC now owns 20,734 shares of the company's stock valued at $2,670,000 after acquiring an additional 8,854 shares in the last quarter. Millennium Management LLC boosted its holdings in SPX Technologies by 214.4% in the first quarter. Millennium Management LLC now owns 83,285 shares of the company's stock valued at $10,725,000 after purchasing an additional 56,799 shares during the period. NewEdge Advisors LLC boosted its holdings in SPX Technologies by 21.8% in the first quarter. NewEdge Advisors LLC now owns 625 shares of the company's stock valued at $80,000 after purchasing an additional 112 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company's stock worth $24,742,000 after purchasing an additional 3,353 shares in the last quarter. 92.82% of the stock is currently owned by institutional investors and hedge funds.

SPX Technologies Price Performance

The company has a 50 day moving average of $224.39 and a 200 day moving average of $217.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 2.11. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 45.23, a PEG ratio of 1.38 and a beta of 1.27.

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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