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

SPX Technologies (NYSE:SPXC) released its earnings results on Thursday. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17, FiscalAI reports. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. SPX Technologies’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. 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

NYSE:SPXC traded up $27.52 during mid-day trading on Friday, hitting $226.82. The company’s stock had a trading volume of 464,255 shares, compared to its average volume of 577,764. The business’s fifty day moving average is $224.39 and its two-hundred day moving average is $217.59. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.11 and a quick ratio of 1.39. SPX Technologies has a 1 year low of $179.17 and a 1 year high of $251.08.

SPX Technologies News Summary

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

• Positive Sentiment: Q2 results exceeded expectations. Adjusted earnings were $2.02 per share, above the $1.85 analyst consensus and up from $1.65 a year earlier. Revenue rose 22.9% year over year to $679 million, surpassing the $640.2 million estimate. SPX Technologies Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: SPXC raised its 2026 outlook. The company now expects adjusted EPS of $8.20–$8.60, with an $8.40 midpoint above the roughly $8.02 consensus. Revenue guidance of $2.7 billion–$2.8 billion also exceeds analyst expectations of approximately $2.6 billion. SPX Technologies Raises 2026 EPS Outlook
• Positive Sentiment: Data-center demand is emerging as a major growth driver. Management highlighted surging demand, expanded production capacity and a data-center opportunity reportedly totaling about $1.1 billion. The company is also evaluating mergers and acquisitions to support growth. SPXC Q2 Earnings Call Highlights
• Neutral Sentiment: Analysts’ average recommendation remains “Moderate Buy,” indicating generally favorable sentiment but not unanimous conviction. SPX Technologies Analyst Recommendation
• Neutral Sentiment: At roughly 45 times earnings and near its 12-month high, SPXC’s valuation may leave the stock sensitive to any slowdown in data-center demand or future guidance.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer reiterated an “outperform” rating and set a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Wells Fargo & Company raised their target price on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. B. Riley Financial boosted their price target on SPX Technologies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on SPX Technologies from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded SPX Technologies from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $259.40.

Institutional Trading of SPX Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its holdings 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 acquiring an additional 722,039 shares during the period. ArrowMark Colorado Holdings LLC purchased a new position in shares of SPX Technologies during the 4th quarter valued at approximately $34,898,000. HRT Financial LP acquired a new position in shares of SPX Technologies in the 4th quarter valued at $31,218,000. Millennium Management LLC boosted its holdings in SPX Technologies by 237.8% during the fourth quarter. Millennium Management LLC now owns 195,598 shares of the company’s stock worth $39,131,000 after buying an additional 137,693 shares in the last quarter. Finally, Amundi boosted its holdings in SPX Technologies by 1,064.4% during the third quarter. Amundi now owns 144,748 shares of the company’s stock worth $27,072,000 after buying an additional 132,317 shares in the last quarter. 92.82% of the stock is 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.