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Jul 01, 2023
SPX Q2 2023 Earnings Report
SPX Technologies reported strong Q2 2023 results driven by overall demand and execution.
Key Takeaways
SPX Technologies reported Q2 2023 results with revenue of $423.3 million and GAAP EPS of $0.82. Adjusted EPS was $1.06. The company is raising its full-year 2023 Adjusted EPS guidance to a range of $4.15-$4.30.
Revenue for the second quarter of 2023 was $423.3 million, compared to $354.0 million in the second quarter of 2022.
Operating income was $51.3 million, compared to $27.2 million in the second quarter of 2022.
Diluted income per share from continuing operations was $0.82, compared to $0.41 in the second quarter of 2022.
Adjusted earnings per share was $1.06, compared to $0.71 in the second quarter of 2022.
Revenue by Segment
Forward Guidance
SPX is updating full-year 2023 guidance, and is now targeting consolidated revenue of approximately $1.72-$1.75 billion, an adjusted operating income margin of approximately 16.00%-16.25%, and adjusted earnings per share in a range of $4.15-$4.30.
Positive Outlook
- Consolidated revenue of approximately $1.72-$1.75 billion.
- Adjusted operating income margin of approximately 16.00%-16.25%.
- Adjusted earnings per share in a range of $4.15-$4.30.
- HVAC revenue of $1,125-$1,145 million with ~20% segment income margin.
- Detection & Measurement revenue of $590-$605 million with ~20% segment income margin.
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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