SPXC

SPX Technologies (SPXC) is back in focus after analyst coverage highlighted a consensus view that earnings could come in ahead of earlier expectations. That renewed attention gives you a fresh reason to reassess the stock. Over the past year SPX Technologies has delivered a 7.4% total shareholder return, while the share price has been relatively flat so far in 2026 with a 0.99% year to date share price return and some recent pressure reflected in a 90 day share price return that declined 5.25%. Compare SPX Technologies with other potential breakout industrials by scanning our curated list of 38 power grid technology and infrastructure stocks. With SPX Technologies cooling off after a strong multi year run yet still carrying upbeat earnings expectations, the real tension is whether most of the upside is already in the rearview, or if the current valuation still leaves room ahead. SPX Technologies last closed at $205.28, while the most followed narrative fair value sits slightly higher at $203.00, which points to a near full pricing of the story according to John_Eric. The HVAC number really is that good, a company does not organically grow backlog 59% by accident. But look one row down and the romance gets its first interruption: Detection & Measurement, the company's smaller, unrelated segment (pipe locators, transportation systems, utility instrumentation), has a backlog that is actually shrinking. And a chunk of that segment's headline-grabbing margin strength this quarter came from a single $15 million project that got pulled forward from Q3, flattering this quarter's story at the expense of next quarter's comparison. Read the complete narrative. Want to see what underpins that fair value on SPX Technologies? The narrative leans on strong earnings momentum, a rich profit profile and a future valuation framework that looks more like a growth stock than a traditional industrial. Result: Fair Value of $203.00 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, SPX Technologies still faces clear pressure points. Any sustained weakness in Detection and Measurement, or a sharp pullback in data center orders, could quickly challenge this upbeat narrative. Find out about the key risks to this SPX Technologies narrative. The user narrative argues SPX Technologies looks close to fully priced around $205, using a bespoke cash flow model. Our SWS DCF model, using a different set of assumptions, values SPXC at $230.26 per share, which implies the stock trades at a 10.8% discount to that estimate. That gap leaves you with a clear question: Is the more cautious narrative closer to reality, or does the SWS DCF model better capture the earnings trajectory you believe in as an investor? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out SPX Technologies for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 46 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. If the mixed sentiment around SPX Technologies leaves you unsure, act while the data is fresh and review the key positives highlighted in the 4 key rewards. Do not stop with SPX Technologies. Broaden your watchlist now, or risk missing stocks that better match your return goals and comfort with risk. Target quality at a discount by scanning our curated set of 46 high quality undervalued stocks that combine solid fundamentals with pricing that may still be catching up. Strengthen your income stream by reviewing our hand picked group of 12 dividend fortresses that focus on higher yields with an emphasis on resilience. Dial down portfolio stress by sifting through 76 resilient stocks with low risk scores that score well on financial strength and lower historical risk factors. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SPXC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Looking back on gas and liquid handling stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including SPX Technologies (NYSE:SPXC) and its peers. Gas and liquid handling companies possess the technical know-how and specialized equipment to handle valuable (and sometimes dangerous) substances. Lately, water conservation and carbon capture–which requires hydrogen and other gasses as well as specialized infrastructure–have been trending up, creating new demand for products such as filters, pumps, and valves. On the other hand, gas and liquid handling companies are at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies’ offerings. The 11 gas and liquid handling stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was 0.8% below. Thankfully, share prices of the companies have been resilient as they are up 6.3% on average since the latest earnings results. With roots dating back to 1912 as the Piston Ring Company, SPX Technologies (NYSE:SPXC) supplies specialized infrastructure equipment for HVAC systems and detection and measurement applications across industrial, commercial, and utility markets. SPX Technologies reported revenues of $679 million, up 22.9% year on year. This print exceeded analysts’ expectations by 5.8%. Overall, it was a stunning quarter for the company with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates. SPX Technologies achieved the highest full-year guidance raise among its peers. Unsurprisingly, the stock is up 12.2% since reporting and currently trades at $223.54. Read why we think that SPX Technologies is one of the best gas and liquid handling stocks, our full report is free. Founded in 1917, Parker Hannifin (NYSE:PH) is a manufacturer of motion and control systems for a wide variety of mobile, industrial and aerospace markets. Parker-Hannifin reported revenues of $5.76 billion, up 9.8% year on year, outperforming analysts’ expectations by 3.3%. The business had an exceptional quarter with a solid beat of analysts’ organic revenue estimates and full-year EPS guidance beating analysts’ expectations. The market seems happy with the results as the stock is up 7.2% since reporting. It currently trades at $1,068. Is now the time to buy Parker-Hannifin? Access our full analysis of the earnings results here, it’s free. Founded in 1926, Graco (NYSE:GGG) is an industrial company specializing in the development and manufacturing of fluid-handling systems and products. Graco reported revenues of $590.6 million, up 3.3% year on year, falling short of analysts’ expectations by 3%. It was a slower quarter, leaving some shareholders looking for more. Graco delivered the weakest performance against analyst estimates of the whole group. Interestingly, the stock is up 11.6% since the results and currently trades at $82.48. Read our full analysis of Graco’s results here. Manufacturing the largest pump ever built for nuclear power generation, Flowserve (NYSE:FLS) manufactures and sells flow control equipment for various industries. Flowserve reported revenues of $1.17 billion, down 1.6% year on year. This result topped analysts’ expectations by 0.9%. Zooming out, it was a mixed quarter as it also logged full-year EPS guidance beating analysts’ expectations but revenue guidance for next quarter missing analysts’ expectations significantly. Flowserve had the weakest guidance update and slowest revenue growth in the group. The stock is up 15.7% since reporting and currently trades at $80.96. Read our full, actionable report on Flowserve here, it’s free. Founded in 1988, IDEX (NYSE:IEX) is a global manufacturer specializing in highly engineered products such as pumps, flow meters, and fluidics systems for various industries. IDEX reported revenues of $920.6 million, up 6.4% year on year. This number beat analysts’ expectations by 1.7%. Overall, it was a strong quarter as it also recorded full-year EPS guidance exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates. IDEX pulled off the highest guidance raise of the whole group. The stock is up 7.2% since reporting and currently trades at $240.75. Read our full, actionable report on IDEX here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. SPX Technologies (SPXC) has drawn fresh attention after reporting second quarter 2026 results with sales of US$679 million and net income of US$78.4 million, alongside higher full year revenue guidance. See our latest analysis for SPX Technologies. The stronger second quarter and raised 2026 outlook were followed by a sharp 10.2% one-day share price return. The year-to-date share price return of 8.05% and a three-year total shareholder return of very large multiples suggest momentum has been building over a longer period. If SPX Technologies has you looking at the wider infrastructure and power grid theme, it can be useful to see what else is moving through the 35 power grid technology and infrastructure stocks After a jump to US$219.62 on strong guidance and earnings, the easy part of the SPX Technologies story is behind you. The harder part now is determining whether the current valuation still offers enough potential upside to compensate for the risk involved. The most followed narrative currently places SPX Technologies fair value at about $268.83 per share, compared with the latest close of $219.62. That gap reflects a detailed view on future growth, margins, and required returns using an 8.49% discount rate. Read the complete narrative. Want to see what sits behind that confidence in SPX Technologies revenue mix and earnings power? The narrative leans heavily on compounding earnings, richer margins, and a premium future earnings multiple that is above many peers. Curious which specific growth and profitability assumptions have to hold for that fair value to stack up. Result: Fair Value of $268.83 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, SPX Technologies investors still need to weigh project timing risk in Detection and Measurement, as well as the ongoing integration demands from acquisitions that could pressure margins. Find out about the key risks to this SPX Technologies narrative. While the analyst narrative sees SPX Technologies as about 18.3% undervalued, the SWS DCF model paints a different picture. On that measure, SPX Technologies at $219.62 is trading slightly above the estimated future cash flow value of $213.46, which points to a modest premium instead. Which story do you think fits your expectations best? For a closer look at how those cash flow assumptions are built and discounted, you can review the full breakdown in the Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out SPX Technologies for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 55 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. With sentiment leaning positive around SPX Technologies potential, it can be useful to move quickly and test the assumptions yourself using the detailed rewards summary in the 3 key rewards. If SPX Technologies has sharpened your focus, do not stop with one stock. Use the Simply Wall St screener tools today so you are not missing other potential opportunities. Target companies that trade below their assessed value and see how they compare to SPX Technologies through the broader 55 high quality undervalued stocks. Prioritise stability and balance sheet strength by checking companies filtered through the solid balance sheet and fundamentals stocks screener (45 results). Hunt for less followed opportunities that still show strong fundamentals using the screener containing 19 high quality undiscovered gems. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SPXC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in SPX Technologies, Inc.? Here are five stocks we like better. SPX Technologies reported strong Q2 2026 results: Revenue rose 23% year over year, adjusted EBITDA increased 20%, and adjusted EPS grew 22% to $2.02. The company raised its full-year adjusted EPS guidance midpoint by $0.45 to $8.40. Data center demand remains a major growth driver. SPX raised its 2026 data center revenue outlook to $430 million and increased expected fully operational production capacity to approximately $1.1 billion, supported by strong hyperscale, colocation and neo-cloud demand. HVAC revenue increased 27.6%, while Detection & Measurement segment income surged 43%. The recently announced Neptronic acquisition is expected to add about $75 million in full-year revenue and modestly support 2026 earnings. This ETF Weeds Out Small-Cap Underperformers SPX Technologies (NYSE:SPXC) reported second-quarter 2026 results marked by double-digit revenue, adjusted EBITDA and adjusted earnings-per-share growth, as demand for its data center cooling products and stronger Detection & Measurement project activity supported performance. Adjusted EBITDA increased 20% from a year earlier, while adjusted EPS rose 22% to $2.02, Chief Executive Officer Gene Lowe said on the company’s earnings call. Revenue increased 23%, including 17% organic growth. Consolidated segment income rose $31.3 million, or 23%, to $167.1 million, while consolidated segment margin held at 24.6%. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now Stock Rotation is Underway: Here are the Winners Moving Forward The company raised the midpoint of its full-year adjusted EPS guidance by $0.45 to $8.40. Lowe said the updated outlook reflects additional data center volume, a stronger outlook for Detection & Measurement, and modest accretion from the recently announced Neptronic acquisition. The revised guidance implies 27% adjusted EBITDA growth at the midpoint. SPX increased its expected data center production capacity to approximately $1.1 billion when fully operational, up from a prior estimate of about $750 million. Lowe attributed the increase to higher-than-anticipated throughput at the company’s Olathe, Kansas, and Springfield facilities, as well as production and workflow improvements. → Microsoft Just Flipped the AI Spending Narrative Overnight The company has raised its 2026 data center revenue outlook several times, from an initial expectation of $300 million to $350 million last quarter and now to $430 million. Lowe said demand remains strong among existing hyperscale customers, while the company has also recorded wins with colocation and “neo cloud” customers. Assembly activity for the OlympusMAX cooling product began in July at the company’s new Madison, Alabama, facility. SPX expects to add production capabilities there during the first half of 2027. Production of engineered aluminum dampers at Tamco’s Tennessee facility is also ramping as planned. → Carrier Earnings Could Send the Stock to a New All-Time High Chief Financial Officer Mark Carano said Tamco is expected to reach full production capacity sometime in 2027, while the Madison facility is expected to reach full capacity in the second half of 2028. He added that the timetable could move earlier if progress continues favorably. SPX said it has long-term agreements with several data center customers, though Lowe noted that such agreements are not recorded as backlog until formal purchase orders are received. The company said it evaluates supply availability for each major order and seeks to ensure it can meet delivery commitments. In the HVAC segment, second-quarter revenue rose 27.6% year over year, including 18.9% organic growth. The segment recorded double-digit organic growth in both cooling and heating. Segment income increased $14 million, or 15%, primarily due to higher volume. HVAC segment margin declined 260 basis points from a year earlier. Carano said the decline reflected capacity-expansion startup costs, the net effect of tariffs and a difficult prior-year comparison, along with modest inflationary pressure. Segment backlog ended the quarter at $919 million, up 59% organically from a year earlier, driven primarily by data center demand. The company said the raised full-year HVAC margin outlook was attributable to the Neptronic acquisition. Carano said the remaining HVAC outlook was unchanged, and that tariffs and startup costs that weighed on the first half should moderate in the second half. Neptronic adds intelligent controls, electric duct heaters, humidification products and actuated valves to SPX’s HVAC portfolio. Lowe said roughly half of Neptronic’s business is closely related to SPX’s existing electric heating and humidification operations, while its controls business offers capabilities for third-party fan walls and other HVAC equipment. Carano said Neptronic is expected to generate approximately $75 million of full-year revenue, although SPX will own the business for about five months during 2026. He described the acquisition’s contribution to 2026 guidance as roughly $0.05 to $0.06 per share. Neptronic’s segment income margin is in the low-40% range, according to Carano, and management expects the business to grow at a high-single-digit rate over time. Detection & Measurement revenue increased 13% year over year, while segment income rose 43% and segment margin expanded 610 basis points. The improvement was driven by high-margin project volume, including a project worth about $15 million that moved from the third quarter into the second quarter, as well as synergy initiatives across the segment. Lowe said approximately half of the margin expansion was attributable to favorable project mix relative to the prior year, with much of the remainder tied to the timing shift and synergy efforts. Detection & Measurement backlog ended the quarter at $312 million, down from a year earlier because of higher project volume during the period. Management expects fourth-quarter Detection & Measurement revenue to exceed third-quarter levels, with similar margins in both periods. Carano said the company’s 2026 guidance calls for segment margins of roughly 26% to 26.5%, though project mix can affect results from period to period. SPX ended the quarter with $168 million in cash, $615 million in total debt and adjusted free cash flow of about $72 million. Its leverage ratio was approximately 0.7 times under its bank credit agreement, or 1.4 times including the Neptronic acquisition. Lowe also announced that John Swann, who leads the Detection & Measurement segment, plans to retire at the end of 2026. Eric Kaled, who has led the company’s transportation and contact platform since 2019, will succeed Swann. SPX also appointed JBT Marel Chief Executive Officer Brian Deck as an independent director. SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications. The company's Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "SPX Technologies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Revenue: Total company revenue increased 23% year-over-year, with 17% organic growth. Adjusted EPS: Grew 22% year-over-year to $2.02. Adjusted EBITDA: Increased 20% year-over-year in Q2; full-year guidance midpoint implies 27% growth. Segment Income: Consolidated segment income grew 23% to $167.1 million, with segment margin at 24.6%. HVAC Segment Revenue: Grew 27.6% year-over-year, with 18.9% organic growth and 8.5% inorganic growth. HVAC Segment Income: Increased 15% year-over-year, driven by higher volume. HVAC Backlog: $919 million at quarter end, up 59% organically year-over-year. Detection & Measurement Revenue: Grew 13% year-over-year. Detection & Measurement Segment Income: Increased 43% year-over-year, with segment margin up 610 basis points. Detection & Measurement Backlog: $312 million at quarter end, down year-over-year due to higher project volumes. Cash and Debt: Ended Q2 with $168 million cash on hand and $615 million total debt; leverage ratio was approximately 0.7 times (1.4 times including Neptronic acquisition). Free Cash Flow: Q2 adjusted free cash flow was approximately $72 million. Full-Year 2026 Guidance: Adjusted EPS guidance increased by $0.45 to a midpoint of $8.40. Warning! GuruFocus has detected 2 Warning Sign with OLED. Is SPXC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SPX Technologies Inc (NYSE:SPXC) delivered strong Q2 2026 results with 23% revenue growth and 20% adjusted EBITDA growth, driven by robust organic growth in both segments. The company raised its full-year 2026 adjusted EPS guidance by $0.45 to a midpoint of $8.40, reflecting higher data center volume, stronger Detection & Measurement performance, and the Neptronic acquisition. Data center capacity expectations were increased to $1.1 billion from $750 million, supported by better-than-expected throughput at Olathe and Springfield facilities and the launch of assembly at the new Madison, Alabama plant. The strategic acquisition of Neptronic expands SPX Technologies Inc (NYSE:SPXC)'s HVAC capabilities into controls, humidification, and electric duct heaters, with high-single-digit growth potential and strong margins in the low 40s. Detection & Measurement segment income grew 43% year-over-year with a 610 basis point margin improvement, driven by high-margin project volumes and synergy initiatives. The company maintains a strong balance sheet with a leverage ratio of 1.4 times pro forma for Neptronic, providing ample capacity for future acquisitions. Backlog in HVAC grew 59% organically year-over-year, driven by strong data center demand, providing good visibility into future revenue. HVAC segment margin declined by 260 basis points year-over-year in Q2, impacted by capacity expansion start-up costs, net tariff effects, and modest inflationary headwinds. Detection & Measurement backlog declined year-over-year due to higher project volumes in the quarter, which could impact future revenue visibility. The company noted that a portion of D&M's strong Q2 performance was due to a project pulled forward from Q3, which may create lumpiness in quarterly results. SPX Technologies Inc (NYSE:SPXC) faces potential customer concentration risk in the data center market, as a small number of hyperscalers represent a significant portion of demand. The company's data center capacity expansion to $1.1 billion is dependent on successful execution of plant ramps, with the Madison facility not expected to reach full production until the second half of 2028. The D&M segment is expected to be relatively flat in 2026, with growth returning only in 2027, indicating a slower year for that business. The company's guidance implies a significant ramp in margins in the back half of the year, which may be challenging to achieve if tariffs or start-up costs persist. Q: How much of the D&M segment's strong performance was due to project timing pull-forward versus a durable step-up in underlying demand, and what is the expected cadence for the back half of the year? A: Mark Carano (CFO) explained that roughly half of the 610 basis point margin increase was driven by favorable project mix, which was expected. The balance was primarily due to project timing, specifically a high-margin project worth about $15 million that moved from Q3 into Q2. This shift leveraged the fixed cost base, driving significant margin accretion. For the back half, Q4 is expected to be larger than Q3, with similar margins across both quarters. Q: Can you elaborate on the increase in data center capacity from $750 million to $1.1 billion, how much incremental revenue is expected in 2026 versus 2027, and what drove the margin decline in HVAC? A: Gene Lowe (CEO) stated that the capacity increase stems from improved throughput in the Olympus MAX product line and core cooling products like the Everest. Lean projects, flow optimization, and productivity work have driven higher output than anticipated. This has allowed the company to raise its 2026 data center revenue expectation from $300 million to $430 million. Mark Carano (CFO) added that the 260 basis point HVAC margin decline was driven by three known items: net tariff impact, startup costs, and a tough prior-year comp, each contributing about 80 basis points, plus modest inflationary headwinds of around 50 basis points. Q: Given the accelerating throughput and strong backlog, what is the realistic growth range for 2027, and what is the timeline to ramp to the $1.1 billion capacity level? A: Gene Lowe (CEO) expressed strong confidence in 2027, citing excellent visibility from hyperscaler customers who provide multi-year demand forecasts. The market is shifting toward SPX's solutions, with increasing adoption of liquid cooling and strong demand for dry coolers, adiabatic solutions, and cooling towers. Mark Carano (CFO) noted that the Olathe and Springfield facilities have performed better than expected, while the new Madison facility is ramping. Full production capacity is expected by the second half of 2028, though there is a bias toward earlier completion if current momentum continues. Q: How should we think about Neptronic's growth rates and margin sustainability going forward, and how does it affect HVAC's portfolio? A: Gene Lowe (CEO) highlighted that Neptronic's business is about half core-adjacent (electric duct heaters, humidification) and half new capabilities, particularly advanced controls. The acquisition strengthens SPX's position in the HVAC control stack and provides cross-selling opportunities through existing channels and OEM relationships. Mark Carano (CFO) added that Neptronic is expected to grow at a high single-digit rate, above the company's medium-term targets, with sustainable segment income margins in the low 40s and EBITDA margins in the mid-40s. Q: What are the contribution margins for the growing data center revenue relative to the broader HVAC portfolio, and what is Neptronic's current data center exposure? A: Mark Carano (CFO) stated that data center contribution margins are expected to be consistent with the balance of the HVAC business, with incrementals in the high 20s to low 30s range. Gene Lowe (CEO) added that Neptronic has a data center presence similar to or slightly higher than SPX's HVAC segment, with good opportunities for future growth in this area. Q: After the Neptronic acquisition, what does the M&A pipeline look like, and how much capacity remains for further deals? A: Gene Lowe (CEO) confirmed that pro forma leverage is 1.4 times, below the target range of 1.5 to 2.5 times, leaving significant capacity for further acquisitions. The pipeline is active, with opportunities in detection and measurement (location and inspection), ComTech and transportation, and engineered air movement within HVAC. The company expects to continue deploying capital and growing through M&A in the coming months. Q: Should D&M margins be expected to increase year-over-year next year, given the lumpy project mix? A: Mark Carano (CFO) provided a framework, noting that the 2026 guidance implies a 26.5% margin. After normalizing for the scope expansion in a software project and favorable mix, the structural improvement driven by synergy initiatives is around 25%. While margins can be impacted by project mix, this provides a baseline for thinking about future performance, though formal 2027 guidance was not provided. Q: What were the book-to-bill ratios for the quarter, and how much revenue and EBITDA is Neptronic adding to 2026 guidance? A: Mark Carano (CFO) indicated that HVAC book-to-bill was approximately 1.4, while D&M was just below 1.0. For Neptronic, the company will own it for about five months in 2026, contributing low-30s millions in revenue. The acquisition price was about 12.5 times EBITDA, and it is expected to add approximately $0.05 to $0.06 of accretion to 2026 adjusted EPS. Q: What does it take to reach the high end of the CapEx guidance, and how much CapEx is needed to achieve the $1.1 billion capacity? A: Mark Carano (CFO) explained that the CapEx for plant expansions was contemplated in the 2026 guidance and is expected to be back-half weighted. The midpoint of the $135-165 million range includes the required expansion CapEx, with regular way CapEx expected to be in the 1.5% to 2% range. Some CapEx could slip into 2027, but current forecasts place it in 2026. Q: Are there long-term agreements with data center customers, and how is the supply chain being managed to avoid interruptions? A: Gene Lowe (CEO) confirmed that SPX has long-term agreements with several customers, though these are not formal purchase orders until placed. The agreements provide demand alignment with protections to free up capacity if orders are not placed. On supply chain, SPX engineers its own key components (fans, gear reducers, heat exchangers), providing flexibility. The company scrubs every bill of material item before accepting large orders to ensure fulfillment capability, which is critical given customer concentration among hyperscalers. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

SPX Technologies, Inc. SPXC used its second-quarter earnings call to highlight accelerating data center demand, expanded manufacturing capacity and a higher outlook for 2026. Management emphasized that operational improvements are increasing the company’s ability to serve growing cooling solution demand. SPXC also discussed the strategic addition of Neptronic, continued acquisition activity and stronger segment execution. The company reported adjusted EPS of $2.02, beating the Zacks Consensus Estimate of $1.85, while revenues reached $679 million, surpassing the consensus estimate of $635.6 million. SPX Technologies, Inc. price-consensus-eps-surprise-chart | SPX Technologies, Inc. Quote SPXC executives placed significant focus on expanding data center cooling capacity. President and CEO Eugene Lowe said that the company now expects approximately $1.1 billion of annual data center capacity at full production, up from the prior expectation of $750 million. Lowe said that improvements in OlympusMAX production, facility throughput and lean initiatives helped raise expectations. The company increased its 2026 data center revenue outlook to $430 million, supported by stronger demand and improved manufacturing efficiency. Management also highlighted customer visibility in the market. Lowe said that hyperscaler relationships and direct customer engagement provide visibility into future demand, while data center cooling remains a major growth opportunity for the HVAC business. SPX increased its full-year guidance following the strong quarter. Management raised the midpoint of adjusted EBITDA guidance to reflect higher data center volume, stronger Detection & Measurement performance and the contribution from Neptronic. The updated outlook calls for revenues of $2.705-$2.765 billion, adjusted EBITDA of $630-$660 million and adjusted EPS of $8.2-$8.6. CFO Mark Carano said the guidance increase reflects improved execution and demand trends. He noted that HVAC margins should benefit from higher volumes, Neptronic contributions and easing impacts from capacity start-up costs and tariffs. SPXC discussed the strategic importance of its Neptronic acquisition. Lowe said the deal strengthens the HVAC portfolio by adding controls, electric duct heating, humidification solutions and actuated valves. Management said Neptronic expands SPXC’s capabilities toward more integrated HVAC solutions. The company expects the acquisition to support growth through existing channels, OEM relationships and data center customer connections. Carano said Neptronic is expected to grow above SPXC’s medium-term targets, with high single-digit growth potential and a margin profile above the HVAC segment average. SPX reported revenue growth of 22.9% year over year in the quarter, with adjusted EBITDA increasing 19.8%. Consolidated segment income rose 23% to $167.1 million, while adjusted EPS increased 22.4% to $2.02. The HVAC segment benefited from higher cooling equipment volumes tied to data center demand and increased throughput from expanded capacity. Revenues grew 27.6% year over year, while segment income increased 14.6%. Detection & Measurement also posted stronger profitability. Segment income increased 43.3%, supported by project volumes, favorable mix and cost optimization initiatives. SPXC faced questions from analysts about the durability of Detection & Measurement margins. Carano told a BofA Securities analyst that roughly half of the margin improvement came from favorable project mix, while project timing and synergy initiatives contributed to the remainder. A Truist Securities analyst asked about the pace of data center capacity expansion. Lowe explained that productivity improvements and facility optimization enabled the company to increase expected capacity without changing the overall ramp timeline. A B. Riley Securities analyst questioned long-term customer agreements. Lowe said that SPXC has agreements with several customers that provide demand alignment while maintaining flexibility through formal purchase orders. SPX ended the quarter with $168 million of cash and total debt of $615 million. Management said that its leverage position leaves room for continued acquisitions while maintaining its strategic investment priorities. Lowe emphasized continued investment in capacity expansion, acquisition integration and opportunities across HVAC and Detection & Measurement. The company said that its pipeline of potential acquisitions remains active. Management’s focus remains on scaling data center solutions, integrating recent acquisitions and improving operating performance across its businesses. SPXC currently carries a Zacks Rank #2 (Buy). The Zacks Rank is driven by earnings estimate revisions and is designed to help identify stocks with stronger near-term performance potential. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The stock has a Value Score of D, a Growth Score of B, a Momentum Score of D and a VGM Score of C. The Zacks Style Score evaluates value, growth and momentum characteristics, with higher grades representing stronger attributes within each category. The combination of a Zacks Rank #2 and individual Style Scores provides investors with additional context, though the Zacks Rank can change as analysts update earnings estimates following new results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

SPX Technologies (SPXC) came out with quarterly earnings of $2.02 per share, beating the Zacks Consensus Estimate of $1.85 per share. This compares to earnings of $1.65 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.19%. A quarter ago, it was expected that this infrastructure equipment supplier would post earnings of $1.55 per share when it actually produced earnings of $1.69, delivering a surprise of +9.03%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. SPX Technologies, which belongs to the Zacks Building Products - Air Conditioner and Heating industry, posted revenues of $679 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.82%. This compares to year-ago revenues of $552.4 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. SPX Technologies shares have lost about 6.2% since the beginning of the year versus the S&P 500's gain of 6.9%. While SPX Technologies has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for SPX Technologies was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.07 on $668.58 million in revenues for the coming quarter and $7.98 on $2.61 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Air Conditioner and Heating is currently in the top 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Fortune Brands Innovations (FBIN), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4. This maker of products for the home, like faucets, cabinets, windows and doors is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of -19%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Fortune Brands Innovations' revenues are expected to be $1.16 billion, down 3.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report Fortune Brands Innovations, Inc. (FBIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Raises Full-year Guidance CHARLOTTE, N.C., July 30, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX”, the “Company”, “we” or “our”) today reported results for the second quarter ended June 27, 2026. Second Quarter Highlights (amounts presented for continuing operations; all comparisons against the second quarter of 2025, unless otherwise noted) Revenue of $679.0 million, up 22.9% GAAP income from continuing operations of $79.3 million, up 51.0% GAAP EPS of $1.56, up 41.8% Adjusted EPS* of $2.02, up 22.4% Adjusted EBITDA* of $151.8 million, up 19.8% Raising 2026 Guidance (all comparisons against the full year 2025, unless otherwise noted) Revenue range of $2.705 to $2.765 billion, up ~21% year-on-year at the midpoint (prior range: $2.575 to $2.645 billion). Adjusted EBITDA* range of $630 to $660 million, up ~27% year-on-year at the midpoint (prior range: $600 to $625 million). Adjusted EPS* range of $8.20 to $8.60, up ~24% year-on-year at the midpoint (prior range: $7.75 to $8.15). Gene Lowe, President and CEO, remarked, “I’m very pleased with our second quarter performance, which reflected strong execution across both segments. We delivered significant year-over-year growth in revenue and operating income, driven by robust organic growth, continued demand across our key end markets, and meaningful contributions from our recent acquisitions. These results demonstrate the strength of our portfolio and the disciplined execution of our teams.” Mr. Lowe continued, “We’re also making meaningful progress on our strategic priorities, advancing both our organic and inorganic growth initiatives. The acquisition of Neptronic expands our HVAC portfolio with highly complementary product categories that leverage our established sales channels. At the same time, we’re increasing manufacturing capacity to support growing demand, with initial assembly of Olympus Max now underway at our Madison, Alabama facility. Given our progress to date and improved visibility, we have increased our estimated annual data center revenue capacity to approximately $1.1 billion once at full production.” Mr. Lowe further commented, “Looking ahead to the second half of 2026, we remain confident in the strength of customer demand and the momentum across our business. Accordingly, we are once again raising our full-year guidance, including Adjusted EBITDA* to a range of $630 to $660 million, representing an approximately 27% year-over-year increase at the midpoint. Our updated outlook reflects continued strength in data center demand, the impact of the Neptronic acquisition and stronger performance from our Detection and Measurement segment, positioning us well for the balance of the year.” Second Quarter and Year-to-Date Financial Comparisons: * Non-GAAP financial measure. See attached schedules for reconciliation of historical non-GAAP measures to most comparable GAAP financial measure. A reconciliation of non-GAAP guidance measures is not practicable and, accordingly, is not provided. Segment Overview: HVAC Second Quarter 2026The revenue increase was primarily driven by: an organic increase due primarily to (i) higher volumes of cooling equipment primarily associated with increased data center demand and higher throughput resulting from increased capacity, and (ii) higher volumes of our heating products; and an inorganic increase from the acquisitions of Crawford United, Thermolec and Sigma & Omega. The segment income increase was due primarily to the revenue growth mentioned above. The decrease in segment margin was primarily due to (i) start-up costs and related inefficiencies associated with our capacity expansion initiatives, (ii) net tariff headwinds and inflationary cost increases, and (iii) the respective 2025 period benefiting from a more accretive mix and favorable project execution primarily within our cooling equipment business. Detection & Measurement Second Quarter 2026The revenue increase was primarily driven by an organic increase due primarily to higher project volumes within our aids to navigation and communication technologies businesses. The segment income increase was due primarily to the revenue growth mentioned above. The segment margin increase was primarily due to (i) a more favorable product mix within our communication technologies and aids to navigation businesses, (ii) operating leverage, including on SG&A costs, of the higher revenue mentioned above, and (iii) benefits realized related to our cost optimization initiatives. Liquidity and Financial Position: **Does not include borrowings of $340.0 incurred in July 2026 in connection with funding the acquisition of Neptronic. 2026 Guidance:For the full year 2026, SPX now anticipates segment and company performance as follows: Form 10-Q: The Company expects to file its quarterly report on Form 10-Q for the period ended June 27, 2026 with the Securities and Exchange Commission by August 7, 2026. This press release should be read in conjunction with that filing, which will be available on the Company's website at www.spx.com, in the Investor Relations section. Conference Call: SPX will host a conference call at 4:45 p.m. (ET) today to discuss second quarter results. The call will be simultaneously webcast via the Company's website at www.spx.com and the slide presentation will be available in the News section of the site. Call Access Process: To access the call by phone, please use the following link to receive dial-in details https://register-conf.media-server.com/register/BI1493b55e6e4e4d7eb65b63476990f468. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at www.spx.com. About SPX Technologies, Inc: SPX Technologies, Inc. is a diversified, global supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX Technologies, Inc. has operations in over 16 countries. SPX Technologies, Inc. is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com. Non-GAAP Presentation: This press release contains certain non-GAAP financial measures, including consolidated segment income and margin, adjusted operating income, adjusted income from continuing operations before income taxes, adjusted earnings per share from continuing operations (or, adjusted EPS), EBITDA, adjusted EBITDA and margin, free cash flow from continuing operations and adjusted free cash flow from continuing operations (or, adjusted free cash flow). These non-GAAP financial measures do not provide investors with an accurate measure of, and should not be used as a substitute for, the comparable financial measures as determined in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company believes these non-GAAP financial measures, when read in conjunction with the comparable GAAP financial measures, give investors a useful tool to assess and understand the Company’s overall financial performance, because they exclude items of income or expense that the Company believes are not reflective of its ongoing operating performance, allowing for a better period-to-period comparison of operations of the Company. Additionally, the Company’s management uses these non-GAAP financial measures as measures of the Company’s performance. The Company acknowledges that there are many items that impact a company’s reported results and the adjustments reflected in these non-GAAP measures are not intended to present all items that may have impacted these results. In addition, these non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies. Refer to the tables included in this press release for the components of each of the non-GAAP financial measures, and for the reconciliations of historical non-GAAP financial measures to their respective comparable GAAP measures. Our non-GAAP financial guidance excludes items, which would be included in our GAAP financial measures, that we do not consider indicative of our on-going performance; and are calculated in a manner consistent with the presentation of the similarly titled historical non-GAAP measures presented in this press release. These items include, but are not limited to, intangible asset amortization expense, acquisition and integration-related costs, costs associated with dispositions, and potential non-cash income or expense items associated with changes in market interest rates and actuarial or other data related to our pension and postretirement plans, as the ultimate aggregate amounts associated with these items are out of our control and/or cannot be reasonably predicted. Accordingly, a reconciliation of our non-GAAP financial guidance to the most comparable GAAP financial measures is not practicable. Full-year guidance excludes impacts from future acquisitions, dispositions and related transaction costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the date of this release, the impact of foreign exchange rate changes subsequent to June 27, 2026, and environmental and litigation charges. Forward-looking Statements: Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these results in conjunction with the Company’s documents filed with the Securities and Exchange Commission, including the Company’s most recent annual report on Form 10-K. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements, including the following: cyclical changes and specific industry events in our markets; changes in anticipated capital investment and maintenance expenditures by customers; changes in economic conditions in relevant global and North American markets, including as a result of geopolitical conflicts, including the armed conflicts in the Middle East and related impacts on shipping in that region, the imposition, or threat of imposition of tariffs, including any new or increased tariffs announced by the U.S. government and any retaliatory tariffs announced in response thereto, and other trade barriers or international trade tensions; availability, limitations or cost increases of raw materials and/or commodities, including as a result of geopolitical conflicts or new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, that cannot be recovered in product pricing; the impact of competition on profit margins and our ability to maintain or increase market share; risks with respect to our contracts with the U.S. government, including the government’s ability to terminate contracts prior to completion or failure to appropriate amounts necessary to fund such contracts; inadequate performance by third-party suppliers and subcontractors for outsourced products, components and services and other supply-chain risks; the uncertainty of claims resolution with respect to environmental and other contingent liabilities; the impact of climate change and any legal or regulatory actions taken in response thereto; cyber-security risks; risks with respect to the protection of intellectual property, including with respect to our digitalization initiatives; the impact of overruns, inflation and the incurrence of delays with respect to long-term fixed-price contracts; defects or errors in current or planned products; the impact of pandemics and governmental and other actions taken in response; domestic economic, political, legal, accounting and business developments adversely affecting our business, including regulatory changes; uncertainties with respect to our ability to complete expansions to or the reconfiguration of our manufacturing footprint within the time periods and at costs we anticipate and whether we will realize the anticipated benefits of these activities; uncertainties with respect to our ability to identify acceptable acquisition targets; uncertainties surrounding timing and successful completion of acquisition transactions, including with respect to integrating acquisitions and achieving cost savings, synergistic sales or other benefits from acquisitions; the impact of retained liabilities of disposed businesses; potential labor disputes; and extreme weather conditions and natural and other disasters. Actual results may differ materially from these statements. The words “guidance,” “believe,” “expect,” “anticipate,” “project” and similar expressions identify forward-looking statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Statements in this press release speak only as of the date of this press release, and SPX Technologies, Inc. disclaims any responsibility to update or revise such statements, except as required by law. Investor and Media Contact:Johann Rawlinson, VP, Investor RelationsPhone: 980-228-6028E-mail: [email protected] Source: SPX Technologies, Inc.