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Apr 02, 2022
SPX Q1 2022 Earnings Report
SPX's first quarter performance was stronger than anticipated, benefiting from order deliveries in the Detection & Measurement segment and continued high demand in end markets.
Key Takeaways
SPX Corporation reported a stronger than anticipated first quarter with revenue of $307.1 million and GAAP EPS of $0.28. The company is updating its full-year adjusted EPS guidance to reflect the ITL acquisition, anticipating approximately 16% year-on-year growth.
Revenue for the first quarter of 2022 was $307.1 million, compared to $287.2 million in the first quarter of 2021.
GAAP diluted income per share from continuing operations was $0.28, compared to $0.50 in the first quarter of 2021.
Adjusted earnings per share was $0.40, compared to $0.49 in the first quarter of 2021.
The company is updating full-year 2022 guidance for the acquisition of ITL, targeting revenue of approximately $1.36-$1.43 billion and adjusted EPS in the range of $2.55-$2.85.
Revenue by Segment
Forward Guidance
SPX is updating full-year 2022 guidance for the acquisition of ITL, and is now targeting consolidated revenue of approximately $1.36-$1.43 billion, an adjusted operating income margin of approximately 11%-12%, and adjusted earnings per share in a range of $2.55-$2.85.
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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