SPX Technologies (NYSE:SPXC) Posts Earnings Results, Beats Expectations By $0.14 EPS
by Doug Wharley · The Cerbat GemSPX Technologies (NYSE:SPXC – Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.14, FiscalAI reports. SPX Technologies had a net margin of 10.76% and a return on equity of 17.65%. The business had revenue of $566.80 million during the quarter, compared to the consensus estimate of $557.62 million. During the same quarter last year, the company earned $1.38 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. 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 Performance
SPXC traded down $11.20 during trading hours on Friday, hitting $207.71. 1,384,172 shares of the stock were exchanged, compared to its average volume of 472,744. The stock has a 50-day simple moving average of $212.45 and a 200-day simple moving average of $211.55. SPX Technologies has a 12 month low of $142.11 and a 12 month high of $246.68. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.48 and a quick ratio of 1.82.
SPX Technologies News Summary
Here are the key news stories impacting SPX Technologies this week:
- Positive Sentiment: Q1 results beat expectations: SPX reported $1.69 EPS vs. $1.55 consensus and revenue of $566.8M (up 17.4% y/y), showing solid margin and top‑line growth. This underpins the bullish analyst activity. SPX Reports First Quarter 2026 Results
- Positive Sentiment: Wells Fargo raised its price target to $240 and moved SPXC to an “Overweight” rating, signaling institutional confidence that there’s meaningful upside from current levels. Benzinga
- Positive Sentiment: Truist also hiked its price target (to $251), adding to the positive analyst momentum following the quarter. Truist Raises Price Target
- Neutral Sentiment: Management hosted an earnings call and published transcripts/recaps; the call highlights growth drivers and updated expectations — useful for investors wanting more color but not introducing new headline surprises. Earnings Call Highlights
- Negative Sentiment: FY‑2026 guidance was set to an EPS range of 7.75–8.15, which sits around or slightly below some street estimates (consensus ~7.87); that tempered the reaction for some investors and may explain profit‑taking after the beat. Earnings / Guidance Details
Analysts Set New Price Targets
A number of analysts have recently weighed in on SPXC shares. Truist Financial raised their price target on shares of SPX Technologies from $244.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. BMO Capital Markets started coverage on shares of SPX Technologies in a research report on Friday, March 27th. They set an “outperform” rating and a $243.00 price target for the company. TD Cowen reissued a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Wells Fargo & Company raised their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Wall Street Zen upgraded SPX Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Nine 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.22.
Check Out Our Latest Analysis on SPX Technologies
Institutional Investors Weigh In On SPX Technologies
A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its stake in SPX Technologies by 62.4% in the third quarter. Invesco Ltd. now owns 1,879,216 shares of the company’s stock valued at $351,000,000 after buying an additional 722,039 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in SPX Technologies by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,176,481 shares of the company’s stock valued at $235,368,000 after buying an additional 84,117 shares during the last quarter. Alliancebernstein L.P. lifted its stake in SPX Technologies by 0.4% in the third quarter. Alliancebernstein L.P. now owns 667,605 shares of the company’s stock valued at $124,695,000 after buying an additional 2,631 shares during the last quarter. Northern Trust Corp lifted its stake in SPX Technologies by 0.4% in the third quarter. Northern Trust Corp now owns 531,040 shares of the company’s stock valued at $99,188,000 after buying an additional 2,315 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in SPX Technologies by 10.3% in the fourth quarter. First Trust Advisors LP now owns 484,377 shares of the company’s stock valued at $96,904,000 after buying an additional 45,232 shares during the last quarter. 92.82% of the stock is currently owned by institutional investors.
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.