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

SPX Technologies (NYSE:SPXC) released its quarterly earnings results on Thursday. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.17, FiscalAI reports. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. SPX Technologies had a return on equity of 16.76% and a net margin of 11.27%.The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm 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 Up 10.2%

Shares of SPX Technologies stock traded up $20.36 on Friday, reaching $219.66. The stock had a trading volume of 1,036,453 shares, compared to its average volume of 572,364. The company has a 50 day moving average price of $224.63 and a 200 day moving average price of $217.60. The stock has a market capitalization of $11.00 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.46 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. SPX Technologies has a 1 year low of $179.17 and a 1 year high of $251.08.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Wells Fargo & Company increased their price objective on shares of SPX Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised 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. Truist Financial increased their price objective 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. Finally, Oppenheimer reaffirmed 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. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.89.

More SPX Technologies News

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

• Positive Sentiment: SPX reported second-quarter adjusted earnings of $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, exceeding estimates of $640.18 million. SPX Reports Second Quarter 2026 Results
• Positive Sentiment: Management raised its 2026 outlook to adjusted EPS of $8.20-$8.60, with an $8.40 midpoint above the prior consensus estimate of $8.02. Revenue guidance of $2.7 billion-$2.8 billion also exceeds the approximately $2.6 billion analyst expectation. SPX Technologies Raises 2026 Outlook
• Positive Sentiment: The earnings call highlighted surging data-center demand, expanded capacity and a potential data-center opportunity of roughly $1.1 billion. The company also emphasized continued mergers-and-acquisitions activity, supporting expectations for additional growth. SPXC Q2 Earnings Call Highlights
• Neutral Sentiment: Analysts maintain an overall “Moderate Buy” recommendation, although the stock’s elevated valuation—approximately 43 times earnings—could make it more sensitive to execution or guidance disappointments. SPX Technologies Analyst Recommendation

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC raised its stake in SPX Technologies by 1.6% in the 4th quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock worth $586,000 after acquiring an additional 50 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of SPX Technologies by 7.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after acquiring an additional 62 shares during the last quarter. Private Advisor Group LLC raised its position in shares of SPX Technologies by 1.2% in the third quarter. Private Advisor Group LLC now owns 7,200 shares of the company’s stock valued at $1,345,000 after buying an additional 84 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in SPX Technologies by 1.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,007 shares of the company’s stock valued at $1,202,000 after acquiring an additional 86 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in SPX Technologies by 0.9% during the third quarter. Captrust Financial Advisors now owns 11,859 shares of the company’s stock worth $2,215,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.

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.