SPX Technologies (NYSE:SPXC) Releases 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 (EPS) guidance of 5.450-5.600 for the period, compared to the consensus 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 note on Thursday, July 18th.

SPX Technologies Trading Up 1.2 %

Shares of SPX Technologies stock traded up $1.71 during trading on Friday, hitting $145.20. 273,046 shares of the company were exchanged, compared to its average volume of 221,029. The firm has a market capitalization of $6.72 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. The firm’s fifty day moving average price is $157.76 and its 200 day moving average price is $146.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.85 and a quick ratio of 0.81. SPX Technologies has a 1-year low of $77.90 and a 1-year high of $173.30.

SPX Technologies (NYSE:SPXC) last issued its earnings results on Wednesday, October 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. The firm had revenue of $483.70 million during the quarter, compared to the consensus estimate of $501.02 million. SPX Technologies had a net margin of 9.11% and a return on equity of 19.70%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 earnings per share. As a group, sell-side analysts expect that SPX Technologies will post 5.56 earnings per share for the current fiscal year.

About SPX Technologies

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.