SPX Q3 2023 Earnings Report
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.
SPX
SPX
SPX 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