SPX Q1 2020 Earnings Report
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 The company has withdrawn its full-year 2020 guidance due to the uncertain economic environment.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.
SPX
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SPX 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