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Mar 30, 2024
SPX Q1 2024 Earnings Report
SPX Technologies reported a strong Q1 performance with substantial growth in key profit measures and significant margin expansion.
Key Takeaways
SPX Technologies reported strong Q1 2024 results, with revenue increasing to $465.2 million and operating income rising to $64.6 million. Net income reached $49.0 million, and adjusted EPS was $1.25. The company is raising its full-year guidance for Adjusted EPS to a range of $5.15 to $5.40.
Revenue increased to $465.2 million from $399.8 million year-over-year.
Operating income rose to $64.6 million from $49.8 million year-over-year.
Adjusted EPS increased to $1.25 from $0.93 year-over-year.
Full-year Adjusted EPS guidance raised to $5.15-$5.40.
SPX
SPX
SPX Revenue by Segment
Revenue by Segment
HVAC Revenue
CapyFin.comDetection & Measurement Revenue
CapyFin.com Forward Guidance
SPX Technologies is increasing full-year 2024 guidance, targeting consolidated revenue of $1.965-$2.025 billion, adjusted EBITDA of $390-$420 million, and adjusted earnings per share of $5.15-$5.40.
Positive Outlook
- Consolidated revenue is projected to be $1.965-$2.025 billion.
- HVAC segment revenue is expected to be $1.360-$1.400 billion.
- Detection & Measurement segment revenue is projected to be $605-$625 million.
- Adjusted EBITDA is targeted at $390-$420 million.
- Adjusted earnings per share are projected to be $5.15-$5.40.
Revenue & Expenses
Visualization of income flow from segment revenue to net income