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Jun 27, 2020
SPX Q2 2020 Earnings Report
SPX's Q2 2020 results reflected solid operational execution and a balanced portfolio, successfully navigating COVID-19 challenges.
Key Takeaways
SPX Corporation reported revenue of $373.2 million and operating income of $34.4 million for the second quarter of 2020. Diluted income per share from continuing operations was $0.62, and adjusted income per share was $0.64.
Revenue was $373.2 million, compared to $372.4 million in Q2 2019.
Operating income was $34.4 million, compared to $26.3 million in Q2 2019.
GAAP EPS was $0.62, compared to $0.43 in Q2 2019.
Adjusted EPS was $0.64, compared to $0.67 in Q2 2019.
Revenue by Segment
Forward Guidance
As we assess the key drivers of our performance for the second half of 2020, we see continued risks associated with the spread of COVID-19 in our largest market, the United States. However, we have multiple tools to continue successfully navigating through the pandemic, and anticipate generating significant cash and profits during the remainder of the year. We ended the second quarter with a very strong balance sheet and available liquidity, positioning us for continued capital deployment, including attractive acquisition opportunities that accelerate our strategic growth plans.
Positive Outlook
- Multiple tools to navigate COVID-19
- Anticipate generating significant cash
- Anticipate generating significant profits
- Strong balance sheet
- Available liquidity
Challenges Ahead
- Continued risks associated with the spread of COVID-19
- COVID-19 impact on customer demand
- Project order delays associated with the COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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