SPX Technologies (SPXC) To Report Earnings Tomorrow: Here Is What To Expect

Industrial conglomerate SPX Technologies (NYSE:SPXC) will be announcing earnings results this Thursday afternoon. Here’s what to expect.

SPX Technologies met analysts’ revenue expectations last quarter, reporting revenues of $482.6 million, up 3.7% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA estimates.

Is SPX Technologies a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting SPX Technologies’s revenue to grow 9.4% year on year to $548.2 million, slowing from the 18.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.45 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SPX Technologies has missed Wall Street’s revenue estimates three times over the last two years.

Looking at SPX Technologies’s peers in the gas and liquid handling segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 5.6%, beating analysts’ expectations by 2.5%, and Flowserve reported revenues up 2.7%, falling short of estimates by 3.1%. Gorman-Rupp traded up 9.9% following the results.

Read our full analysis of Gorman-Rupp’s results here and Flowserve’s results here.

There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 5.5% on average over the last month. SPX Technologies is up 5.5% during the same time and is heading into earnings with an average analyst price target of $184.64 (compared to the current share price of $176.89).

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