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Dec 31, 2021
SPX Q4 2021 Earnings Report
SPX reported solid performance in Q4 2021, driven by strong demand in end markets, but offset by supply constraints.
Key Takeaways
SPX Corporation reported Q4 2021 revenue of $350.0 million, a slight increase from $348.3 million in Q4 2020. Operating income was $13.9 million, compared to $29.1 million in the same period last year. Adjusted earnings per share was $0.88, down from $0.94 in Q4 2020.
SPX closed 2021 with solid performance, reflecting strong demand in our end markets, offset by continued supply constraints.
The sale of Transformer Solutions simplified and strengthened our portfolio, allowing us to focus on our higher margin, higher growth HVAC and Detection & Measurement segments.
SPX continued to execute on our value creation roadmap, closing on three strategic acquisitions that expand our long-term growth opportunities.
End market demand remains strong for our highly-engineered products, as evidenced by robust orders and backlog.
Revenue by Segment
Forward Guidance
SPX is targeting adjusted consolidated revenue of approximately $1.34-$1.41 billion and adjusted earnings per share in a range of $2.50-$2.80 for 2022.
Positive Outlook
- SPX is targeting adjusted consolidated revenue of approximately $1.34-$1.41 billion
- Adjusted operating income margin of approximately 11%-12%
- Adjusted earnings per share in a range of $2.50-$2.80
- HVAC revenue $855-$890 million
- Detection & Measurement $485-$520 million
Challenges Ahead
- Challenging supply chain
- Challenging labor environment
- Impacts from further spread of COVID-19
- Asbestos liability charges
- Environmental and litigation charges
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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