SPX Technologies (NYSE:SPXC) Issues FY24 Earnings Guidance

SPX Technologies (NYSE:SPXC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.45-5.60 for the period, compared to the consensus EPS estimate of $5.54. The company issued revenue guidance of $1.97-2.00 billion, compared to the consensus revenue estimate of $2.00 billion.

SPX Technologies Price Performance

SPX Technologies stock traded down $0.28 during midday trading on Wednesday, hitting $158.97. The company’s stock had a trading volume of 187,574 shares, compared to its average volume of 247,507. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $158.15 and its 200-day moving average price is $146.23. SPX Technologies has a 12 month low of $77.90 and a 12 month high of $173.30. The company has a market capitalization of $7.35 billion, a PE ratio of 77.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21.

SPX Technologies (NYSE:SPXC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.17. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The firm had revenue of $501.30 million for the quarter, compared to the consensus estimate of $492.08 million. During the same quarter in the previous year, the company earned $1.06 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. Analysts anticipate that SPX Technologies will post 5.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer cut SPX Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 18th.

SPX Technologies Company Profile

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.