SPX Technologies (NYSE:SPXC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

SPX Technologies (NYSE:SPXC) announced its earnings results on Thursday. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.12 by $0.09, FiscalAI reports. SPX Technologies had a return on equity of 17.25% and a net margin of 11.48%. The company had revenue of $714.50 million for the quarter, compared to analyst estimates of $710.38 million. During the same quarter in the prior year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year.

Here are the key takeaways from SPX Technologies’ conference call:

• Q3 performance was strong, with revenue up 20.5%, adjusted EBITDA up 21.7% to $165.7 million, and adjusted EPS up 20% to $2.21—the fifth consecutive quarter of at least 20% EPS growth.
• HVAC revenue increased 35.5% year over year, including 22.3% organic growth, while organic backlog rose 69% to a record approximately $1.1 billion. Data-center demand remains robust, and Madison began shipping products during the quarter as capacity expansion continues.
• HVAC margins declined approximately 140 basis points because of growth-related inefficiencies, higher labor and outsourcing costs, and elevated input prices. These pressures are expected to continue into Q4, and management lowered the top end of full-year adjusted EPS guidance to $8.50, with a midpoint of $8.35.
• Detection & Measurement revenue fell 7.7% due largely to unfavorable project timing, but segment margin expanded 260 basis points on favorable mix, synergy benefits, and a customer resolution. Management said the business’s structural margin profile has improved beyond its existing 22%–24% medium-term target, which may be updated with 2027 guidance.
• Recent acquisitions, including FIS Water, are tracking at or slightly ahead of expectations and are expected to add complementary cooling and water-management capabilities. Management also reported a strong acquisition pipeline, although it does not expect another major transaction before year-end.

SPX Technologies Stock Down 4.5%

SPXC stock traded down $7.61 during trading on Friday, reaching $159.65. 1,972,195 shares of the stock were exchanged, compared to its average volume of 648,586. The firm’s 50 day moving average is $178.60 and its 200 day moving average is $207.51. SPX Technologies has a twelve month low of $148.17 and a twelve month high of $251.08. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. The firm has a market cap of $8.00 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24.

Analyst Ratings Changes

Several brokerages have issued reports on SPXC. B. Riley Financial dropped their price target on SPX Technologies from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Vertical Research initiated coverage on shares of SPX Technologies in a research report on Monday, September 28th. They set a “buy” rating and a $215.00 price objective for the company. Weiss Ratings lowered shares of SPX Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, September 21st. Robert W. Baird started coverage on shares of SPX Technologies in a research note on Monday, October 5th. They issued an “outperform” rating and a $220.00 price objective for the company. Finally, Truist Financial dropped their target price on shares of SPX Technologies from $301.00 to $266.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SPX Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

SPX Technologies News Roundup

Here are the key news stories impacting SPX Technologies this week:

• Positive Sentiment: Raised 2026 outlook and data-center opportunity: Management increased its 2026 adjusted EBITDA growth forecast to approximately 25% and outlined roughly $1.1 billion of data-center-related capacity, reinforcing expectations for continued demand in cooling and HVAC infrastructure. SPX outlines data center capacity and raises EBITDA guidance
• Positive Sentiment: Third-quarter results exceeded estimates: SPX Technologies reported $714.5 million in revenue, up 20.5% year over year, and adjusted earnings of $2.21 per share versus the $2.12 consensus estimate. Revenue, operating profit and earnings all improved from the prior-year period. SPX Technologies third-quarter earnings report
• Positive Sentiment: Valuation argument remains supportive: One analysis estimates SPXC could be about 17% undervalued even after the guidance increase. The company’s growth profile is also supported by prior analyst targets substantially above its recent trading level. SPX Technologies stock may be undervalued
• Neutral Sentiment: Mixed institutional positioning: Recent filings show both additions and reductions by major investors, including purchases by Capital World Investors and sales by BlackRock, offering no clear institutional consensus. The company has comparatively moderate leverage, but quarterly capital spending and total liabilities remain important areas to monitor. SPX Technologies third-quarter financial results
• Negative Sentiment: Broader market risk is weighing on sentiment: Technical analysts warned that a break in S&P 500 support could trigger steeper selling. That market-wide caution may be pressuring SPXC even though its operating results and guidance were favorable. Market technical analysis and S&P 500 support warning

About SPX Technologies

SPX Technologies, Inc (NYSE:SPXC) is a diversified industrial technology company that develops and manufactures engineered products and solutions for the heating, ventilation, air conditioning and infrastructure markets. The company serves commercial, industrial and residential customers through specialized technologies designed to support building climate control, utility infrastructure and related applications.

SPX Technologies operates through two primary business segments: HVAC and Detection & Measurement.