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Oct 02, 2021
SPX Q3 2021 Earnings Report
SPX reported Q3 2021 results with adjusted EPS of $0.41, revenue of $285.8 million, and sale of Transformers repositions company for growth.
Key Takeaways
SPX Corporation reported strong demand and bookings in Q3 2021, with revenue of $285.8 million and operating income of $11.8 million. The company closed the sale of Transformer Solutions, but faced accelerating supply chain challenges impacting revenue and margin performance. SPX is updating its 2021 full-year guidance to reflect these constraints.
Q3 2021 GAAP EPS was $0.17; adjusted EPS was $0.41.
Revenue reached $285.8 million, while operating income was $11.8 million.
The sale of Transformer Solutions repositions the company for future growth.
Supply chain constraints are expected to affect Q4 performance, leading to adjusted guidance.
SPX
SPX
SPX Revenue by Segment
Revenue by Segment
HVAC Revenue
CapyFin.comDetection & Measurement Revenue
CapyFin.com Forward Guidance
SPX anticipates adjusted revenue growth of approximately 8-10%, an adjusted operating income margin of around 11%, and adjusted earnings per share in the range of $2.18 to $2.27.
Positive Outlook
- Adjusted revenue growth of ~8-10%
- HVAC segment revenue ~$755-765 million
- HVAC segment margin ~14.0%
- Detection & Measurement revenue ~$460-470 million
- Detection & Measurement margin ~19.0%
Challenges Ahead
- Adjusted operating income margin of ~11%
- Adjusted earnings per share in a range of $2.18 to $2.27
- HVAC segment revenue prior ~$770-780 million
- HVAC segment margin prior ~14.5%
- Detection & Measurement revenue prior ~$465-475 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income