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

SPX Technologies (NYSE:SPXC) 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.

Analysts Set New Price Targets

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

SPX Technologies Trading Down 0.2 %

Shares of NYSE:SPXC traded down $0.28 during 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. The firm’s 50 day simple moving average is $158.15 and its two-hundred day simple moving average is $146.23. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. SPX Technologies has a 12 month low of $77.90 and a 12 month high of $173.30. The stock has a market capitalization of $7.35 billion, a PE ratio of 77.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21.

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

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.