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Sep 30, 2023
SPX Q3 2023 Earnings Report
SPX Technologies reported strong Q3 2023 results with revenue and margin growth, driven by solid performance across its segments and contributions from recent acquisitions.
Key Takeaways
SPX Technologies reported strong Q3 2023 results, with revenue increasing to $448.7 million from $370.5 million in Q3 2022. The company's GAAP EPS was $0.76, and adjusted EPS was $1.06. Due to the year-to-date performance, the company is increasing its full-year 2023 guidance for Adjusted EPS to a range of $4.22 to $4.32.
Revenue increased by 21.1% year-over-year to $448.7 million.
GAAP EPS was $0.76, compared to $0.27 in Q3 2022.
Adjusted EPS was $1.06, compared to $0.81 in Q3 2022.
Full-year 2023 Adjusted EPS guidance raised to $4.22-$4.32.
Revenue by Segment
Forward Guidance
SPX is updating full-year 2023 guidance, and is now targeting consolidated revenue of approximately $1.74-$1.77 billion, an adjusted operating income margin of approximately 16.3%, and adjusted earnings per share in a range of $4.22-$4.32.
Positive Outlook
- Consolidated revenue of approximately $1.74-$1.77 billion.
- Adjusted operating income margin of approximately 16.3%.
- Adjusted earnings per share in a range of $4.22-$4.32.
- HVAC segment revenue between $1,125-$1,145 million with ~20% segment income margin.
- Detection & Measurement segment revenue between $610-$620 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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