SPX Technologies Q1 revenue jumps 17%, beats estimates

SPX Technologies

30/04/2026 21:25

Overview

U.S. HVAC and detection tech firm's Q1 revenue rose 17%, beating analyst expectations

Adjusted EPS for Q1 up 22%, beating analyst consensus

Company raised 2026 guidance for revenue, adjusted EBITDA and adjusted EPS

Outlook

SPX Technologies raises 2026 revenue guidance to $2.575-$2.645 bln from $2.535-$2.605 bln

Company lifts 2026 adjusted EBITDA forecast to $600-$625 mln from $590-$620 mln

SPX Technologies expects continued healthy demand across key end markets for remainder of 2026

Result Drivers

ACQUISITIONS - Co said Q1 revenue growth was driven by recent acquisitions including Sigma & Omega, Thermolec, Crawford United and KTS

DATA CENTER DEMAND -Co said higher volumes of cooling products for data centers contributed to organic growth in HVAC segment

FAVORABLE PRODUCT MIX - Co said Detection & Measurement segment margin improved due to higher software-as-a-service revenue in transportation systems business

Company press release: ID:nGNX2KgNsy

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$566.80 mln
$558.53 mln (12 Analysts)
Q1 Adjusted EPS
Beat
$1.69
$1.56 (12 Analysts)
Q1 EPS
$1.27


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 $270.00, about 27.7% above its April 29 closing price of $211.36

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 26 three months ago

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.)