SPX Technologies Inc (NYSE:SPXC)
$ 159.25 -0.65 (-0.41%) Market Cap: 7.37 Bil Enterprise Value: 8.06 Bil PE Ratio: 72.06 PB Ratio: 5.74 GF Score: 71/100
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Q2 2024 SPX Technologies Inc Earnings Call Transcript

Aug 1, 2024 / 08:45 PM GMT
Release Date Price: $143.29 (-2.88%)

Key Points

Positve
  • SPX Technologies Inc (SPXC) reported a significant year-on-year revenue growth of 18.4% for Q2 2024.
  • The company achieved a 45% increase in adjusted EBITDA and a 400 basis points expansion in margin.
  • SPX Technologies Inc (SPXC) raised its full-year 2024 guidance, reflecting a 35% growth in adjusted EBITDA and 28% in adjusted EPS.
  • The HVAC segment saw a 32.5% year-on-year revenue growth, driven by higher cooling sales and acquisitions.
  • The company is experiencing robust demand across key markets, including data centers, healthcare, and industrial facilities.
Negative
  • Detection & Measurement segment revenues decreased by 6.2% year-on-year, primarily due to lower CommTech sales.
  • The company faced a slight headwind from foreign exchange (FX) impacts.
  • There was a charge for the resolution of a legal dispute, impacting adjusted EPS by $0.13 per share.
  • Segment backlog in HVAC was roughly flat organically from the prior year period, indicating potential future growth challenges.
  • The company noted some project delays in the industrial tech sector, including EV and battery plants.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPXC.N - SPX Technologies Inc
Q2 2024 SPX Technologies Inc Earnings Call
Aug 01, 2024 / 08:45PM GMT

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Conference Call Participants
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* Paul Clegg
SPX Technologies Inc - Vice President - Investor Relations and Communications
* Eugene Lowe
SPX Technologies Inc - Independent Director
* Mark Carano
SPX Technologies Inc - Chief Financial Officer, Vice President, Treasurer
* Ross Sparenblek
William Blair - Analyst
* Bryan Blair
Oppenheimer - Analyst
* Damian Karas
UBS - Analyst
* Steve Ferazani
Sidoti - Analyst
* Walter Liptak
Seaport Research - Analyst

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Presentation
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Operator [1]
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Thank you for standing by, and welcome to SPX Technologies Second Quarter 2024 Earnings
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