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

SPX Technologies (NYSE:SPXC) announced its quarterly earnings results on Wednesday. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01, Briefing.com reports. The business had revenue of $483.70 million for the quarter, compared to analysts’ expectations of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. 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 Trading Up 1.2 %

SPX Technologies stock opened at $145.20 on Friday. The firm has a 50-day moving average price of $157.76 and a two-hundred day moving average price of $146.47. SPX Technologies has a 52-week low of $77.90 and a 52-week high of $173.30. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 1.43 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 1.85 and a debt-to-equity ratio of 0.49.

Wall Street Analyst Weigh In

Separately, Oppenheimer downgraded SPX Technologies from an “outperform” rating to a “market perform” rating in a research note 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.