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Dec 31, 2020
SPX Q4 2020 Earnings Report
SPX reported mixed results with revenue increase but operating income decrease compared to the same quarter last year.
Key Takeaways
SPX Corporation reported Q4 2020 results with a revenue of $456.8 million, an increase from $443.4 million in Q4 2019. However, the operating income decreased to $34.9 million from $51.6 million in the same period. The adjusted EPS was $0.89, down from $0.96 in Q4 2019.
Revenue increased to $456.8 million from $443.4 million year-over-year.
Operating income decreased to $34.9 million from $51.6 million year-over-year.
Adjusted EPS decreased to $0.89 from $0.96 year-over-year.
The company is targeting 2021 adjusted EPS in a range of $3.00 to $3.20.
Revenue by Segment
Forward Guidance
SPX is targeting 2021 adjusted consolidated revenue of approximately $1.6 billion, an adjusted operating income margin of approximately 12%, and adjusted earnings per share in a range of $3.00 to $3.20.
Positive Outlook
- HVAC: Growth of low-to-mid single digits %
- HVAC: Modest increase in segment income margin
- Detection & Measurement: Growth of low-to-mid teens % including 2020 acquisitions impact
- Engineered Solutions: Growth of low-single digits %
- Total SPX Adjusted: Growth of mid-single digits %
Challenges Ahead
- Detection & Measurement: Approximately flat segment income margin
- Engineered Solutions: Approximately flat segment income margin
- Total SPX Adjusted: Modest increase in segment income margin
- Non-GAAP financial guidance excludes items, which would be included in GAAP financial measures that are not indicative of on-going performance
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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