SPX Technologies Inc reports results for the quarter ended in March - Earnings Summary

SPX Technologies

02/05/2024 23:39

* SPX Technologies Inc  SPXC.N  reported quarterly adjusted
earnings of $1.25​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 93 cents.  The mean expectation of five analysts
for the quarter was for earnings of $1.04 per share. Wall Street
expected results to range from 97 cents to $1.08 per share.
    * Revenue rose 16.4% to $465.20 million from a year ago;
analysts
expected $454.09 million. 
    * SPX Technologies Inc's reported EPS for the quarter was
$1.05​.
    * The company reported quarterly net income of $49 million.
    * SPX Technologies Inc shares had fallen by 1.1% this
quarter and
gained 20.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for SPX Technologies
Inc is $130.00 
This summary was machine generated from LSEG data May 2 at 10:39
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.04           1.25           Beat
 Dec. 31 2023      1.26           1.25           Missed
 Sep. 30 2023      0.97           1.06           Beat
 Jun. 30 2023      0.83           1.06           Beat