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

by · The Cerbat Gem

SPX Technologies (NYSE:SPXC – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01, Briefing.com reports. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 earnings per share. 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 Price Performance

Shares of NYSE SPXC traded down $10.65 during mid-day trading on Thursday, reaching $148.32. 251,933 shares of the company traded hands, compared to its average volume of 247,528. SPX Technologies has a fifty-two week low of $77.90 and a fifty-two week high of $173.30. The firm has a market cap of $6.86 billion, a PE ratio of 72.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21. The stock has a fifty day simple moving average of $158.23 and a 200-day simple moving average of $146.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81.

Wall Street Analyst Weigh In

Separately, Oppenheimer lowered shares of SPX Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, July 18th.

View Our Latest Stock Report on SPX Technologies

SPX Technologies Company Profile

(Get Free Report)

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.

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