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NEW YORK - SPX Corp (NYSE:SPXC) reported first-quarter earnings that surpassed analyst expectations and raised its full-year guidance, sending shares up 1% in after-hours trading.
The industrial equipment manufacturer posted adjusted earnings per share of $1.38 for the quarter ended March 29, 2025, beating the analyst consensus of $1.18. Revenue came in at $482.6 million, up 3.7% YoY, but fell short of the $507.6 million estimate.
SPX Corp raised its full-year 2025 outlook, now expecting adjusted EPS of $6.10 to $6.40, up from its previous range of $6.00 to $6.25. The company also increased its revenue guidance to $2.20 billion to $2.26 billion, compared to its earlier forecast of $2.13 billion to $2.19 billion.
"I’m very pleased with our strong start to 2025," said Gene Lowe, President and CEO of SPX Corp. "Our Q1 performance included solid growth in our key profit measures and favorable margin performance in both segments."
The company’s adjusted EBITDA for the quarter rose 11.5% to $102.6 million. SPX Corp also highlighted its recent acquisition of Sigma & Omega, which is expected to strengthen its HVAC segment.
Despite the revenue miss, investors appeared to focus on the earnings beat and improved guidance, as reflected in the modest 1% stock price increase following the announcement.
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