SPX Technologies (NYSE:SPXC) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

SPX Technologies (NYSE:SPXC) issued its quarterly earnings data on Thursday. The company reported $2.02 EPS 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 the consensus estimate of $640.18 million. During the same period in the prior year, the business posted $1.65 earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. 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 Performance

SPXC stock traded up $11.51 during midday trading on Thursday, hitting $199.16. The company’s stock had a trading volume of 728,143 shares, compared to its average volume of 562,370. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.38 and a beta of 1.27. The company has a quick ratio of 1.39, a current ratio of 2.11 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $224.39 and its 200 day moving average price is $217.59. SPX Technologies has a 1 year low of $179.17 and a 1 year high of $251.08.

More SPX Technologies News

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.

Hedge Funds Weigh In On SPX Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its position in SPX Technologies by 62.4% during 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 period. ArrowMark Colorado Holdings LLC purchased a new stake in SPX Technologies during the fourth quarter worth about $34,898,000. HRT Financial LP bought a new stake in SPX Technologies in the fourth quarter worth about $31,218,000. Millennium Management LLC raised its position in SPX Technologies by 237.8% in the fourth quarter. Millennium Management LLC now owns 195,598 shares of the company’s stock worth $39,131,000 after acquiring an additional 137,693 shares during the period. Finally, Amundi boosted its stake in SPX Technologies by 1,064.4% in the third quarter. Amundi now owns 144,748 shares of the company’s stock valued at $27,072,000 after acquiring an additional 132,317 shares during the last quarter. 92.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPXC has been the subject of a number of analyst reports. B. Riley Financial reissued a “buy” rating on shares of SPX Technologies in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wells Fargo & Company raised their price target on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Wolfe Research restated an “outperform” rating and set a $266.00 price target on shares of SPX Technologies in a report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.30.

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.