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Oct 01, 2022
SPX Q3 2022 Earnings Report
SPX Technologies reported strong Q3 2022 results with organic growth across all platforms and solid contributions from acquisitions.
Key Takeaways
SPX Technologies reported a strong third quarter with revenue of $370.5 million and adjusted EPS of $0.81. The company is raising full-year adjusted EPS guidance to a range of $2.85-$2.95.
Revenue increased to $370.5 million, up from $285.7 million in Q3 2021.
Operating income was $37.3 million, compared to $17.7 million in Q3 2021.
Adjusted EPS increased to $0.81, up from $0.44 in Q3 2021.
Full-year adjusted EPS guidance raised to $2.85-$2.95.
Revenue by Segment
Forward Guidance
SPX is updating full-year 2022 guidance, and is now targeting consolidated revenue of approximately $1.43-$1.47 billion, an adjusted operating income margin of approximately 12.0%, and adjusted earnings per share in a range of $2.85-$2.95.
Positive Outlook
- Consolidated revenue target raised to $1.43-$1.47 billion.
- Adjusted operating income margin target of approximately 12.0%.
- Adjusted earnings per share target in a range of $2.85-$2.95.
- HVAC revenue target of $900-$920 million.
- Detection & Measurement revenue target of $525-$545 million.
Challenges Ahead
- Guidance excludes changes in the number of shares outstanding.
- Guidance excludes impacts from future acquisitions, dispositions and related transaction costs.
- Guidance excludes restructuring costs.
- Guidance excludes incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the end of the third quarter.
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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