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Mar 28, 2020
SPX Q1 2020 Earnings Report
SPX's first quarter 2020 performance was strong overall, with Engineered Solutions segment generating a significant increase in segment income, partially offset by the impact of lower weather-driven demand of HVAC heating products compared with the strong prior-year winter.
Key Takeaways
SPX Corporation reported a revenue of $369.3 million and an operating income of $32.7 million for Q1 2020. The diluted income per share was $0.50, and the adjusted income per share was $0.62. The company has withdrawn its full-year 2020 guidance due to the uncertain economic environment.
SPX's first quarter 2020 performance was strong overall.
Engineered Solutions segment generated a significant increase in segment income, partially offset by the impact of lower weather-driven demand of HVAC heating products compared with the strong prior-year winter.
The effect of COVID-19 crisis accelerated during March and April.
SPX is well positioned to manage through the current difficult environment with its strong balance sheet and liquidity position.
Revenue by Segment
Forward Guidance
As a result of the current uncertain economic environment, we are withdrawing our full-year 2020 guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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