Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. Independent Director Angel Willis was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 03
SPX Technologies, Inc. Raises Earnings Guidance for the Year 2026 SPX Technologies, Inc. raised earnings guidance for the year 2026. For the year, the company now expects revenue range of $2.575 billion to $2.645 billion as compared to $2.535 billion to $2.605 billion in the previous guidance. Duyuru • Apr 09
SPX Technologies, Inc. to Report Q1, 2026 Results on Apr 30, 2026 SPX Technologies, Inc. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 30, 2026 Duyuru • Apr 02
SPX Technologies, Inc., Annual General Meeting, May 12, 2026 SPX Technologies, Inc., Annual General Meeting, May 12, 2026. Location: meetnow.global/mhvazud, United States Duyuru • Feb 03
SPX Technologies, Inc. Announces Retirement of J. Randall Data as President, Global Operations and Data Center Solutions, Effective as of March 20, 2026 On February 2, 2026, J. Randall Data, President, Global Operations and Data Center Solutions of SPX Technologies, Inc. (the “Company”), informed the Company of his decision to retire effective as of March 20, 2026. Duyuru • Jan 20
SPX Technologies, Inc. (NYSE:SPXC) acquired Thermolec Ltd. for approximately CAD 200 million. SPX Technologies, Inc. (NYSE:SPXC) acquired Thermolec Ltd. for approximately CAD 200 million on January 20, 2026. The consideration CAD 195 million is paid in cash. Thermolec will become part of SPX’s HVAC segment and operate within its Electric Heat business with Marley Engineered Products (MEP) and ASPEQ.
For the period ending December 31, 2025, Thermolec Ltd. reported total revenue of CAD 48.52 million ($35 million).
SPX Technologies, Inc. (NYSE:SPXC) completed the acquisition of Thermolec Ltd. on January 20, 2026. Duyuru • Jan 16
SPX Technologies, Inc. to Report Q4, 2025 Results on Feb 24, 2026 SPX Technologies, Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 24, 2026 Duyuru • Jan 06
SPX Technologies, Inc. Appoints Daniel Whitman as General Counsel & Secretary, Effective January 5, 2026 SPX Technologies, Inc. announced the appointment of Daniel Whitman as its General Counsel & Secretary, effective January 5, 2026. Mr. Whitman joins SPX following a 20-year career at Parker Hannifin, including the last 14 years as Vice President, Law, Deputy General Counsel and Assistant Secretary, serving as the legal team's principal deputy with responsibility for all commercial and operational support activities. Mr. Whitman has over 30 years of experience and has made significant contributions in both engineering and legal aspects of business. While at Parker Hannifin, Mr. Whitman quickly progressed through roles of increasing responsibility, culminating in leadership of legal support for Parker Hannifin's commercial, intellectual property, and international operations. His career at Parker Hannifin also included spending a multi-year expatriate assignment in Switzerland, leading Parker Hannifin's Europe, Middle East and Africa legal team. His time in the legal field began as an intellectual property attorney with the law firm of Tarolli Sundheim Covell & Tummino, where he worked his way up to Partner. Prior to his career in law, he spent time in various engineering roles at Ingersoll-Rand and Air Technologies. Mr. Whitman earned his Juris Doctor, magna cum laude, from the University of Akron School of Law and his bachelor's degree in mechanical engineering from Purdue University. He currently is registered to practice law in both the State of Ohio and before the United States Patent & Trademark Office. Duyuru • Oct 07
SPX Technologies, Inc. to Report Q3, 2025 Results on Oct 30, 2025 SPX Technologies, Inc. announced that they will report Q3, 2025 results After-Market on Oct 30, 2025 Duyuru • Aug 14
SPX Technologies, Inc. has completed a Follow-on Equity Offering in the amount of $500.0001 million. SPX Technologies, Inc. has completed a Follow-on Equity Offering in the amount of $500.0001 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,659,575
Price\Range: $188
Discount Per Security: $7.52 Duyuru • Aug 12
SPX Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $500 million. SPX Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $500 million.
Security Name: Common Stock
Security Type: Common Stock Duyuru • Aug 01
Spx Technologies, Inc. Raises Financial Guidance for the Year 2025 SPX Technologies, Inc. raised financial guidance for the year 2025. For the year company now expects revenue range of $2.225 to $2.275 billion, up ~13% year-on-year at the midpoint compared to prior range of $2.20 billion to $2.26 billion. Duyuru • Jul 10
SPX Technologies, Inc. to Report Q2, 2025 Results on Jul 31, 2025 SPX Technologies, Inc. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025 Duyuru • May 02
SPX Technologies, Inc. Raises Financial Guidance for the Year 2025 SPX Technologies, Inc. raised financial guidance for the year 2025. For the year, the company expects Revenue range of $2.20 billion to $2.26 billion, up approximately 12% year-on-year at the midpoint (prior range: $2.13 billion to $2.19 billion). Duyuru • Apr 16
SPX Technologies, Inc. (NYSE:SPXC) acquired Sigma Heating and Cooling/Omega Heat Pump for approximately $140 million. SPX Technologies, Inc. (NYSE:SPXC) acquired Sigma Heating and Cooling/Omega Heat Pump for approximately $140 million on April 15, 2025.
SPX Technologies, Inc. (NYSE:SPXC) completed the acquisition of Sigma Heating and Cooling/Omega Heat Pump on April 15, 2025. Duyuru • Apr 10
SPX Technologies, Inc. to Report Q1, 2025 Results on May 01, 2025 SPX Technologies, Inc. announced that they will report Q1, 2025 results After-Market on May 01, 2025 Duyuru • Feb 27
SPX Technologies, Inc., Annual General Meeting, May 13, 2025 SPX Technologies, Inc., Annual General Meeting, May 13, 2025. Duyuru • Feb 26
SPX Technologies, Inc. Provides Consolidated Earnings Guidance for the Year 2025 SPX Technologies, Inc. provided consolidated earnings guidance for the year 2025. For the year, consolidated revenue of approximately $2.13 to $2.19 billion. Duyuru • Jan 28
SPX Technologies, Inc. (NYSE:SPXC) completed the acquisition of Kranze Technology Solutions, Inc. SPX Technologies, Inc. (NYSE:SPXC) agreed to acquire Kranze Technology Solutions, Inc. for $350 million on December 23, 2024. A cash consideration of $350 million will be paid by SPX Technologies, Inc. SPX Technologies intends to finance the acquisition by drawing on its revolving credit facility. Upon closing, Kranze Technology Solutions will become a part of SPX Technologies’ Communication Technologies (“CommTech”) platform, within its Detection & Measurement segment. The transaction is subject to approval by Hart-Scott-Rodino Act. The parties anticipate the closing of the transaction in the first quarter of 2025.
SPX Technologies, Inc. (NYSE:SPXC) completed the acquisition of Kranze Technology Solutions, Inc. on January 27, 2024. Duyuru • Jan 24
SPX Technologies, Inc. to Report Q4, 2024 Results on Feb 25, 2025 SPX Technologies, Inc. announced that they will report Q4, 2024 results After-Market on Feb 25, 2025 Duyuru • Dec 23
SPX Technologies, Inc. (NYSE:SPXC) agreed to acquire Kranze Technology Solutions, Inc. for $350 million. SPX Technologies, Inc. (NYSE:SPXC) agreed to acquire Kranze Technology Solutions, Inc. for $350 million on December 23, 2024. A cash consideration of $350 million will be paid by SPX Technologies, Inc. SPX Technologies intends to finance the acquisition by drawing on its revolving credit facility. Upon closing, Kranze Technology Solutions will become a part of SPX Technologies’ Communication Technologies (“CommTech”) platform, within its Detection & Measurement segment.
The transaction is subject to approval by Hart-Scott-Rodino Act. The parties anticipate the closing of the transaction in the first quarter of 2025. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €154, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 10x in the Machinery industry in Germany. Total returns to shareholders of 170% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €174 per share. Duyuru • Nov 02
SPX Technologies, Inc. Updates Earnings Guidance for the Year 2024 SPX Technologies, Inc. updated earnings guidance for the full year of 2024. For the year, the company is narrowing full-year 2024 revenue guidance to a range of $1.97 billion to $2.00 billion, from a prior range of $1.97 billion to $2.02 billion. Buy Or Sell Opportunity • Nov 01
Now 26% undervalued Over the last 90 days, the stock has risen 9.8% to €145. The fair value is estimated to be €195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 46%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.10 (vs US$0.78 in 3Q 2023) Third quarter 2024 results: EPS: US$1.10 (up from US$0.78 in 3Q 2023). Revenue: US$483.7m (up 7.8% from 3Q 2023). Net income: US$50.9m (up 43% from 3Q 2023). Profit margin: 11% (up from 8.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 08
SPX Technologies, Inc. to Report Q3, 2024 Results on Oct 30, 2024 SPX Technologies, Inc. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024 Duyuru • Sep 27
Spx Technologies, Inc. Announces Executive Changes SPX Technologies, Inc. announced the appointment of Jennifer Carpenter as its new Chief Human Resources Officer (CHRO), effective September 30, 2024. She succeeds Tausha White, who earlier this year announced her decision to retire. Ms. Carpenter joins SPX with an extensive background of human resources and leadership experience. Ms. Carpenter has more than 20 years of leadership experience in human resources. She joins SPX from Honeywell International Inc. where she held multiple senior roles of increasing responsibility, including most recently as Vice President, Human Resources for Digital IT. She has built strong business partnerships and led the human resources function across a diverse set of businesses and global teams. She also played a major role in the integration and growth of a $3 billion+ acquisition, with more than 6,000 employees. Ms. Carpenter earned a Master of Arts in Organizational Management from Spring Arbor University and a Bachelor of Science in Business Administration &Human Resources from Central Michigan University. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.98 (vs US$0.84 in 2Q 2023) Second quarter 2024 results: EPS: US$0.98 (up from US$0.84 in 2Q 2023). Revenue: US$501.3m (up 18% from 2Q 2023). Net income: US$45.2m (up 18% from 2Q 2023). Profit margin: 9.0% (in line with 2Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 36% per year. Duyuru • Aug 02
SPX Technologies, Inc. Updates Earnings Guidance for the Full Year 2024 SPX Technologies, Inc. updated earnings guidance for the full year 2024. The company targeting consolidated revenue of approximately $1.97 billion to $2.02 billion ($1.965 billion to $2.025 billion prior). Buy Or Sell Opportunity • Jul 18
Now 22% undervalued Over the last 90 days, the stock has risen 25% to €138. The fair value is estimated to be €176, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 44% in the next year. Duyuru • Jul 12
SPX Technologies, Inc. to Report Q2, 2024 Results on Aug 01, 2024 SPX Technologies, Inc. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$1.07 (vs US$0.86 in 1Q 2023) First quarter 2024 results: EPS: US$1.07 (up from US$0.86 in 1Q 2023). Revenue: US$465.2m (up 16% from 1Q 2023). Net income: US$49.2m (up 26% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 03
SPX Technologies, Inc. Revises Consolidated Earnings Guidance for the Full Year of 2024 SPX Technologies, Inc. revised consolidated earnings guidance for the full year of 2024. The company is increasing full year 2024 guidance. The company is now targeting consolidated revenue of $1.965 billion to $2.025 billion ($1.93 billion to $2.00 billion prior). Duyuru • Apr 16
SPX Technologies, Inc. to Report Q1, 2024 Results on May 02, 2024 SPX Technologies, Inc. announced that they will report Q1, 2024 results After-Market on May 02, 2024 Recent Insider Transactions • Mar 24
Insider recently sold €696k worth of stock On the 20th of March, John Swann sold around 6k shares on-market at roughly €109 per share. This transaction amounted to 6.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €6.6m. Insiders have been net sellers, collectively disposing of €7.3m more than they bought in the last 12 months. Recent Insider Transactions • Mar 06
President recently sold €6.6m worth of stock On the 4th of March, Eugene Lowe sold around 62k shares on-market at roughly €106 per share. This transaction amounted to 8.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Eugene's only on-market trade for the last 12 months. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: US$3.18 (vs US$0.44 in FY 2022) Full year 2023 results: EPS: US$3.18 (up from US$0.44 in FY 2022). Revenue: US$1.74b (up 19% from FY 2022). Net income: US$144.7m (up US$124.9m from FY 2022). Profit margin: 8.3% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 23
SPX Technologies, Inc. Provides Earnings Guidance for the Year 2024 SPX Technologies, Inc. provided earnings guidance for the year 2024. For the year, the company expects consolidated revenue of approximately $1.93 to $2.0 billion. Duyuru • Feb 08
SPX Technologies, Inc. (NYSE:SPXC) acquired IngéNia Technologies Inc. for approximately CAD 410 million. SPX Technologies, Inc. (NYSE:SPXC) acquired IngéNia Technologies Inc. for approximately CAD 410 million on February 7, 2024. This is SPX’s 14th acquisition since 2018. Blake, Cassels & Graydon LLP acted as legal advisor to SPX Technologies, Inc. and McCarthy Tétrault LLP acted as legal advisor to IngéNia Technologies Inc.
SPX Technologies, Inc. (NYSE:SPXC) completed the acquisition of IngéNia Technologies Inc. on February 7, 2024. Duyuru • Jan 31
SPX Technologies, Inc. to Report Q4, 2023 Results on Feb 22, 2024 SPX Technologies, Inc. announced that they will report Q4, 2023 results After-Market on Feb 22, 2024 Duyuru • Nov 05
SPX Technologies, Inc. Revises Earnings Guidance for the Year 2023 SPX Technologies, Inc. revised earnings guidance for the year 2023. For the year, the company expects consolidated revenue of approximately $1.74 billion to $1.77 billion ($1.72 billion to $1.75 billion prior). Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.78 (vs US$0.28 in 3Q 2022) Third quarter 2023 results: EPS: US$0.78 (up from US$0.28 in 3Q 2022). Revenue: US$448.7m (up 21% from 3Q 2022). Net income: US$35.7m (up 186% from 3Q 2022). Profit margin: 8.0% (up from 3.4% in 3Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Duyuru • Oct 13
SPX Technologies, Inc. to Report Q3, 2023 Results on Nov 02, 2023 SPX Technologies, Inc. announced that they will report Q3, 2023 results After-Market on Nov 02, 2023 New Risk • Aug 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 4.0% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.0% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.84 (vs US$0.42 in 2Q 2022) Second quarter 2023 results: EPS: US$0.84 (up from US$0.42 in 2Q 2022). Revenue: US$423.3m (up 20% from 2Q 2022). Net income: US$38.3m (up 100% from 2Q 2022). Profit margin: 9.0% (up from 5.4% in 2Q 2022). Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Duyuru • Aug 03
Spx Technologies, Inc. Provides Revenue Guidance for the Year 2023 SPX Technologies, Inc. provided revenue guidance for the year 2023. For the year, the company expects Revenue to be $1.72 billion-$1.75 billion. Duyuru • Jul 15
SPX Technologies, Inc. to Report Q2, 2023 Results on Aug 02, 2023 SPX Technologies, Inc. announced that they will report Q2, 2023 results on Aug 02, 2023 Buying Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be €94.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has declined by 29%. Revenue is forecast to grow by 12% in a year. Earnings is forecast to grow by 293% in the next year. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €66.00, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Machinery industry in Germany. Total returns to shareholders of 117% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €73.96 per share. Duyuru • May 05
SPX Technologies, Inc. Revises Consolidated Earnings Guidance for the Fiscal Year 2023 SPX Technologies, Inc. revised consolidated earnings guidance for the fiscal year 2023. The company is now targeting consolidated revenue of approximately $1.61 billion to $1.65 billion ($1.50 billion to $1.54 billion prior). Reported Earnings • May 05
First quarter 2023 earnings released: EPS: US$0.86 (vs US$0.28 in 1Q 2022) First quarter 2023 results: EPS: US$0.86 (up from US$0.28 in 1Q 2022). Revenue: US$399.8m (up 30% from 1Q 2022). Net income: US$39.1m (up 201% from 1Q 2022). Profit margin: 9.8% (up from 4.2% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: US$0.44 (vs US$1.30 in FY 2021) Full year 2022 results: EPS: US$0.44 (down from US$1.30 in FY 2021). Revenue: US$1.46b (up 20% from FY 2021). Net income: US$19.8m (down 66% from FY 2021). Profit margin: 1.4% (down from 4.8% in FY 2021). Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. Independent Director Angel Willis was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jan 27
SPX Technologies, Inc. to Report Q4, 2022 Results on Feb 23, 2023 SPX Technologies, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 23, 2023 Duyuru • Dec 08
SPX Technologies, Inc. Appoints Mark Carano as Chief Financial Officer SPX Technologies, Inc. announced the appointment of Mark A. Carano as Vice President, Chief Financial Officer and Treasurer, effective January 3, 2023. Mr. Carano joins SPX Technologies with extensive executive experience in finance, accounting, strategy, and business development, including senior leadership roles in public companies. Mr. Carano joins SPX from Insteel Industries, Inc, where he served as Senior Vice President, Chief Financial Officer and Treasurer. Before joining Insteel, he served as Chief Financial Officer of Big River Steel LLC, from 2019 until its sale to U.S. Steel in 2020. Prior to Big River Steel, Mr. Carano served in senior management roles with Babcock & Wilcox, a publicly-held manufacturer of industrial technology, from 2013 to 2018, including Senior Vice President, Finance and Controller of their Industrial Segment and Senior Vice President, Corporate Development and Treasurer. Mr. Carano also spent 14 years in investment banking, serving in roles of increasing seniority at First Union Securities, Deutsche Bank, Merrill Lynch, and BofA Merrill Lynch. He earned a bachelor’s of arts degree from Vanderbilt University and a master's degree in business administration from Northwestern University's Kellogg Business School. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.28 (vs US$0.17 in 3Q 2021) Third quarter 2022 results: EPS: US$0.28 (up from US$0.17 in 3Q 2021). Revenue: US$370.5m (up 30% from 3Q 2021). Net income: US$12.5m (up 62% from 3Q 2021). Profit margin: 3.4% (up from 2.7% in 3Q 2021). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Duyuru • Nov 04
SPX Technologies, Inc. Revises Earnings Guidance for Full-Year 2022 SPX Technologies, Inc. revised earnings guidance for full-year 2022. For the year 2022, the company expects consolidated revenue of approximately $1.43 billion to $1.47 billion compared to previous guidance of $1.41 billion to 1.45 billion. Duyuru • Nov 02
Capital & Risk Limited and Premia Holdings Ltd. acquired Three wholly-owned subsidiaries and asbestos liabilities & certain assets for approximately $140 million. Capital & Risk Limited and Premia Holdings Ltd. acquired Three wholly-owned subsidiaries and asbestos liabilities & certain assets for approximately $140 million on November 1, 2022. SPX anticipates that the divestiture will result in an annual benefit to its Adjusted Earnings Per Share of $0.08 to $0.10 beginning in 2023. Nomura Securities International, Inc. acted as financial advisor and Shearman & Sterling LLP acted as legal advisor to SPX Technologies, Inc.
Capital & Risk Limited and Premia Holdings Ltd. completed the acquisition of Three wholly-owned subsidiaries and asbestos liabilities & certain assets on November 1, 2022. Duyuru • Oct 18
SPX Technologies, Inc. Announces Executive Changes SPX Technologies, Inc. announced two new senior leaders in areas essential to the company's growth strategy. SPX has named Darnell Smith as the company's new Chief Information Officer (CIO), bringing over 30 years of Information Technology experience across a wide array of industries and organizations, Michael Daly as, Global Head of Strategy and Business Development, bringing decades of global M&A leadership experience in diversified industrials. Mr. Smith's extensive experience includes more than 15 years as CIO across various industries and organizations. He joins SPX from Standard Textiles, and previously held leadership roles with the City of Raleigh, Elster Group and DuPont. He holds a Master's Degree in Business Administration from the University of North Carolina -- Wilmington, and a Bachelor's Degree in Computer Science from North Carolina Agricultural & Technical State University.Mr. Daly joins SPX from Honeywell, where he served as Global Head of Corporate Development/M&A, Strategic Alliances and Venture Investing for the Performance Materials & Technologies group. Previously, he served various finance, strategy and business development roles with Caesars Entertainment, GE Capital and General Electric. He holds a Bachelor of Science Degree in Business Administration from the University of Vermont. Duyuru • Oct 13
SPX Technologies, Inc. to Report Q3, 2022 Results on Nov 03, 2022 SPX Technologies, Inc. announced that they will report Q3, 2022 results After-Market on Nov 03, 2022 Duyuru • Sep 27
SPX Technologies, Inc. Announces Appointment of Sean Mcclenaghan as President, Global Cooling and Executive Officer SPX Technologies, Inc. announced the appointment of Sean McClenaghan as President, Global Cooling and an Executive Officer of SPX Technologies. Mr. McClenaghan brings over 25 years of extensive executive leadership experience to the SPX team. He joins SPX from Reliance Worldwide Corporation (RWC), where he served as Chief Executive Officer of RWC Americas. Before joining RWC in 2014, he spent over fifteen years in various strategic consulting and business development roles with McKinsey & Company, CHB Capital Partners, and Egon Zehnder. He began his career with DuPont, holding several operational and management positions ranging from Process Control Design Engineer to Plant Manager to Global Business Manager. Mr. McClenaghan has a Masters in Business Administration from Harvard University and a Bachelor in Chemical Engineering from The Georgia Institute of Technology. He is also a member of the Board of Directors for Sto Corporation, Americas, and has held numerous other Board positions. Duyuru • Aug 06
SPX Corporation Revises Earnings Guidance for the Year 2022 SPX Corporation revised earnings guidance for the year 2022. For the year, the company targeting consolidated revenue of approximately $1.41 billion to $1.45 billion compared to prior guidance of $1.36 billion to $1.43 billion. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$0.42 (vs US$0.33 in 2Q 2021) Second quarter 2022 results: EPS: US$0.42 (up from US$0.33 in 2Q 2021). Revenue: US$354.0m (up 19% from 2Q 2021). Net income: US$19.1m (up 30% from 2Q 2021). Profit margin: 5.4% (up from 5.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 10%, compared to a 9.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Duyuru • Jul 09
SPX Corporation to Report Q2, 2022 Results on Aug 04, 2022 SPX Corporation announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 04, 2022 Duyuru • Jun 26
SPX Corporation(NYSE:SPXC) dropped from Russell 2000 Growth-Defensive Index SPX Corporation(NYSE:SPXC) dropped from Russell 2000 Growth-Defensive Index Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$0.28 (vs US$0.42 in 1Q 2021) First quarter 2022 results: EPS: US$0.28 (down from US$0.42 in 1Q 2021). Revenue: US$307.1m (up 6.7% from 1Q 2021). Net income: US$13.0m (down 32% from 1Q 2021). Profit margin: 4.2% (down from 6.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 14%, compared to a 9.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 05
SPX Corporation Provides Full Year 2022 Guidance SPX Corporation provides full year 2022 guidance. The company is now targeting consolidated revenue of approximately $1.36-$1.43 billion ($1.34-$1.41 billion prior). Duyuru • Apr 14
SPX Corporation to Report Q1, 2022 Results on May 04, 2022 SPX Corporation announced that they will report Q1, 2022 results After-Market on May 04, 2022 Duyuru • Apr 12
SPX Corporation (NYSE:SPXC) acquired International Tower Lighting, LLC (ITL). SPX Corporation (NYSE:SPXC) acquired International Tower Lighting, LLC (ITL) on April 11, 2022. ITL’s results will be reported as part of SPX’s AtoN platform within its Detection & Measurement segment. ITL has revenue of approximately $18 million, and is anticipated to be modestly accretive to average segment margin.
SPX Corporation (NYSE:SPXC) completed the acquisition of International Tower Lighting, LLC (ITL) on April 11, 2022. Duyuru • Mar 31
SPX Corporation, Annual General Meeting, May 10, 2022 SPX Corporation, Annual General Meeting, May 10, 2022, at 08:00 US Eastern Standard Time. Agenda: To consider election of directors; to approval of named executive officers' compensation, on a non-binding advisory basis; to consider ratification of appointment of Deloitte & Touche LLP as the company's independent registered public accounting for 2022; and to consider other business as maybe properly come before the meeting. Reported Earnings • Feb 26
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$1.30 (down from US$2.26 in FY 2020). Revenue: US$1.22b (down 22% from FY 2020). Net income: US$59.0m (down 41% from FY 2020). Profit margin: 4.8% (down from 6.5% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 11% per year. Duyuru • Feb 03
SPX Corporation to Report Q4, 2021 Results on Feb 23, 2022 SPX Corporation announced that they will report Q4, 2021 results After-Market on Feb 23, 2022 Buying Opportunity • Jan 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be US$60.79, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.0% per annum over the last 3 years. Duyuru • Dec 17
SPX Corporation (NYSE:SPXC) completed the acquisition of Cincinnati Fan and Ventilator Company, Inc. from Dominus Capital, L.P. for approximately $150 million. SPX Corporation (NYSE:SPXC) signed a definitive agreement to acquire Cincinnati Fan and Ventilator Company, Inc. from Dominus Capital, L.P. on November 15, 2021. Burton will continue to lead Cincinnati Fan following the closing of the transaction. Subject to regulatory approval and customary closing conditions, the transaction is expected to close by year end 2021. SPX anticipates that the acquisition will be accretive to its HVAC segment margin. William Blair served as financial advisor and White & Case LLP served as legal counsel to Cincinnati Fan. BlackArch Partners, LLC acted as financial adviser while Holland & Knight LLP acted as legal counsel to SPX Corporation.
SPX Corporation (NYSE:SPXC) completed the acquisition of Cincinnati Fan and Ventilator Company, Inc. from Dominus Capital, L.P. for approximately $150 million on December 16, 2021. Under the terms of agreement, consideration was paid in cash. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS US$0.17 (vs US$0.51 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$285.8m (down 21% from 3Q 2020). Net income: US$7.70m (down 66% from 3Q 2020). Profit margin: 2.7% (down from 6.2% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS US$0.33 (vs US$0.64 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$296.7m (down 21% from 2Q 2020). Net income: US$14.7m (down 48% from 2Q 2020). Profit margin: 5.0% (down from 7.6% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 05
SPX Corporation (NYSE:SPXC) acquired Enterprise Control Systems Ltd. SPX Corporation (NYSE:SPXC) acquired Enterprise Control Systems Ltd on August 3, 2021. ECS’s results will be reported as part of SPX’s Communications Technology platform within its Detection & Measurement segment. ECS is expected to be accretive to Detection & Measurement segment margin once fully integrated.
SPX Corporation (NYSE:SPXC) completed the acquisition of Enterprise Control Systems Ltd on August 3, 2021. Duyuru • Jun 10
Ge-prolec Transformers Inc entered into a Stock Purchase Agreement to acquire SPX Transformer Solutions, Inc. from SPX Corporation (NYSE:SPXC) for approximately $650 million. Ge-prolec Transformers Inc entered into a stock purchase agreement to acquire SPX Transformer Solutions, Inc. from SPX Corporation (NYSE:SPXC) for approximately $650 million on June 8, 2021. The purchase price is subject to potential adjustment based on Transformer Solutions’ cash, debt and working capital on the date the transaction is consummated, as well as for specified transaction expenses and other specified items. The purchase agreement contains customary termination provisions in favor of both the Ge-prolec Transformers and SPX Corporation, including a right to terminate the purchase agreement if the transaction has not been consummated on or prior to November 1, 2021; provided that both Ge-prolec Transformers and SPX Corporation may extend such date to December 30, 2021 if approvals under the HSR Act have not been obtained by November 1, 2021.
The completion of the transaction is subject to certain customary closing conditions, including, but not limited to, (i) the absence of any order of a court prohibiting the consummation of the transaction and of any pending action by a governmental authority to enjoin or otherwise prohibit the consummation of the transaction, and (ii) the expiration or termination of the waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). The parties currently expect the transaction to close in the second half of 2021. The net proceeds from the transaction will be approximately $540 million. J.P. Morgan Securities LLC acted as financial advisor and Rick Giovannelli and Leah Baucom of K&L Gates LLP acted as legal advisors to SPX Corporation. UBS Investment Bank and Scotiabank Inverlat acted as financial advisors for Ge-prolec Transformers. Reported Earnings • May 08
First quarter 2021 earnings released: EPS US$0.61 (vs US$0.51 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$398.5m (up 7.9% from 1Q 2020). Net income: US$27.6m (up 22% from 1Q 2020). Profit margin: 6.9% (up from 6.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 13
New 90-day high: €49.60 The company is up 10.0% from its price of €45.00 on 11 December 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Machinery industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €60.95 per share. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS US$2.26 (vs US$1.71 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$1.56b (up 2.2% from FY 2019). Net income: US$100.7m (up 34% from FY 2019). Profit margin: 6.5% (up from 4.9% in FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 4.0%, compared to a 5.0% growth forecast for the Machinery industry in Germany. Duyuru • Feb 03
SPX Corporation to Report Q4, 2020 Results on Feb 23, 2021 SPX Corporation announced that they will report Q4, 2020 results After-Market on Feb 23, 2021 Is New 90 Day High Low • Jan 08
New 90-day high: €47.20 The company is up 11% from its price of €42.60 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €74.45 per share. Is New 90 Day High Low • Dec 10
New 90-day high: €45.80 The company is up 35% from its price of €34.00 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €65.29 per share. Is New 90 Day High Low • Nov 24
New 90-day high: €44.40 The company is up 23% from its price of €36.00 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €70.71 per share. Duyuru • Nov 13
SPX Corporation (NYSE:SPXC) acquired Sensors & Software Inc. SPX Corporation (NYSE:SPXC) acquired Sensors & Software Inc. on November 12, 2020.
SPX Corporation (NYSE:SPXC) completed the acquisition of Sensors & Software Inc. on November 12, 2020. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 1.6% at US$363.4m. Revenue is forecast to grow 2.0% over the next year, while the growth in Machinery industry in Germany is expected to stay flat. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of US$107.9m, up 34% from the prior year. Total revenue was US$1.55b over the last 12 months, up 1.6% from the prior year. Duyuru • Oct 30
SPX Corporation Announces Appointment of Ankush Kumar as Executive Officer and Leader of - Global Cooling Businesses SPX Corporation announced that Ankush Kumar, who joined the company in 2018 as President of the company's HVAC Cooling business, has been appointed as an Executive Officer of the company. Mr. Kumar will also now assume leadership for SPX's Process Cooling organization, giving him responsibility for all Cooling operations globally. Prior to joining SPX in 2018, Mr. Kumar led the fluid transfer equipment and liquid-ring compressor systems businesses at Gardner Denver Holdings Inc., a global industrial manufacturer. Also, he previously spent 13 years at McKinsey &Company, where his focus was growth through strategy deployment, business development and commercial performance transformation. Duyuru • Oct 10
SPX Corporation to Report Q3, 2020 Results on Oct 29, 2020 SPX Corporation announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Oct 29, 2020 Is New 90 Day High Low • Sep 28
New 90-day high: €39.00 The company is up 8.0% from its price of €36.00 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €61.79 per share.