SPX Technologies (NYSE:SPXC) Issues FY 2024 Earnings Guidance

SPX Technologies (NYSE:SPXCGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 5.450-5.600 for the period, compared to the consensus earnings per share estimate of 5.540. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. SPX Technologies also updated its FY24 guidance to $5.45-5.60 EPS.

Analyst Ratings Changes

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

View Our Latest Research Report on SPX Technologies

SPX Technologies Stock Down 0.2 %

Shares of NYSE SPXC traded down $0.28 on Wednesday, reaching $158.97. 187,574 shares of the company’s stock traded hands, compared to its average volume of 247,507. The business’s 50 day simple moving average is $158.23 and its two-hundred day simple moving average is $146.32. SPX Technologies has a 12 month low of $77.90 and a 12 month high of $173.30. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 77.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.28 and a debt-to-equity ratio of 0.40.

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

About SPX Technologies

(Get Free Report)

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.

See Also

Earnings History and Estimates for SPX Technologies (NYSE:SPXC)

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