SPX Technologies beats Q2 estimates on acquisitions, data center demand

SPX Technologies

30/07/2026 21:23

Overview
US engineered products supplier's Q2 revenue rose 22.9%, beating analyst expectations
Q2 adjusted EPS increased 22.4% to $2.02, beating analyst expectations
Company raised 2026 revenue and adjusted EPS guidance on strong demand and acquisitions

Outlook
SPX Technologies raises 2026 revenue guidance to $2.705-$2.765 bln from $2.575-$2.645 bln
Company lifts 2026 adjusted EBITDA outlook to $630-$660 mln from $600-$625 mln
SPX expects 2026 adjusted EPS of $8.20-$8.60, up from prior $7.75-$8.15 range

Result Drivers
DATA CENTER DEMAND - Higher volumes of cooling equipment, mainly from increased data center demand and expanded capacity, drove HVAC segment revenue growth
ACQUISITIONS - Recent acquisitions, including Crawford United, Thermolec and Sigma & Omega, contributed to inorganic revenue growth in HVAC
PROJECT VOLUMES - Higher project volumes in aids to navigation and communication technologies businesses supported Detection & Measurement segment revenue growth

Company press release: ID:nGNX8zSYW7

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$679 mln
$640.10 mln (12 Analysts)
Q2 Adjusted EPS
Beat
$2.02
$1.85 (12 Analysts)
Q2 EPS
 
$1.56
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for SPX Technologies Inc is $280.00, about 49.2% above its July 29 closing price of $187.65
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads
July 30 - Trane Technologies Q2 revenue beats on Americas Commercial HVAC unit strength
July 29 - Modine Q1 revenue rises on data centers, commercial HVAC strength 
July 29 - Ireland's Johnson Controls Q3 sales beat on data center demand; raises outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)