SPX Technologies (NYSE:SPXC) Issues FY 2024 Earnings Guidance

SPX Technologies (NYSE:SPXC) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 5.450-5.600 for the period, compared to the consensus earnings per share estimate of 5.540. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. SPX Technologies also updated its FY24 guidance to $5.45-5.60 EPS.

Analyst Upgrades and Downgrades

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

SPX Technologies Price Performance

NYSE:SPXC traded up $1.71 on Friday, reaching $145.20. The stock had a trading volume of 273,046 shares, compared to its average volume of 221,029. The company has a quick ratio of 0.81, a current ratio of 1.85 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.72 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. SPX Technologies has a 1-year low of $77.90 and a 1-year high of $173.30. The stock has a fifty day moving average price of $157.76 and a 200-day moving average price of $146.47.

SPX Technologies (NYSE:SPXC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $483.70 million for the quarter, compared to analyst estimates of $501.02 million. SPX Technologies had a return on equity of 19.70% and a net margin of 9.11%. SPX Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 EPS. Research analysts forecast that SPX Technologies will post 5.56 EPS for the current year.

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.