SPX Technologies (NYSE:SPXC) Updates FY24 Earnings Guidance

SPX Technologies (NYSE:SPXC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $5.45-5.60 for the period, compared to the consensus EPS estimate of $5.54. The company issued revenue guidance of $1.97-2.00 billion, compared to the consensus revenue estimate of $2.00 billion.

SPX Technologies Price Performance

Shares of NYSE:SPXC traded down $0.28 during midday trading on Wednesday, reaching $158.97. The company’s stock had a trading volume of 187,574 shares, compared to its average volume of 247,507. SPX Technologies has a fifty-two week low of $77.90 and a fifty-two week high of $173.30. The company has a market capitalization of $7.35 billion, a P/E ratio of 77.68, a P/E/G ratio of 1.58 and a beta of 1.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.28 and a quick ratio of 0.81. The business’s fifty day simple moving average is $158.15 and its 200-day simple moving average is $146.23.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.17. SPX Technologies had a return on equity of 19.20% and a net margin of 5.53%. The company had revenue of $501.30 million during the quarter, compared to analyst estimates of $492.08 million. During the same period last year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts expect that SPX Technologies will post 5.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lowered SPX Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 18th.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.