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Investing.com -- SPX Technologies, Inc. (NYSE:SPXC) reported second-quarter results that exceeded analyst expectations on Thursday, prompting the company to raise its full-year guidance and sending shares up 4.8% in trading.
The Charlotte-based engineered products manufacturer posted adjusted earnings of $1.65 per share for the quarter ended June 28, significantly beating the analyst consensus of $1.45. Revenue climbed 10.2% YoY to $552.4 million, surpassing the $546.77 million estimate and marking the company’s continued growth momentum.
The strong quarterly performance was driven by significant profit growth in both of the company’s business segments. SPX’s HVAC segment saw revenue increase 5.7% to $376.7 million with segment margin expanding 190 basis points to 25.4%. Meanwhile, the Detection & Measurement segment delivered 21.3% revenue growth to $175.7 million.
"I’m very pleased with our second quarter results, which included significant year-over-year profit growth in both segments and strong margin performance—particularly in our HVAC segment," said Gene Lowe, President and CEO of SPX Technologies.
Following the solid results, SPX raised its full-year 2025 outlook, now expecting revenue between $2.225 billion and $2.275 billion, up approximately 13% YoY at the midpoint. The company also increased its adjusted EPS guidance to a range of $6.35 to $6.65, well above the analyst consensus of $6.31.
The company’s adjusted EBITDA is now projected to reach between $485 million and $510 million, representing an 18% increase YoY at the midpoint.
Lowe added, "We continue to see solid demand in key end markets, execute well operationally across our businesses, and see strong contributions from our recent acquisitions."
SPX also highlighted progress on growth initiatives, including expanded production capacity for its Engineered Air Movement businesses and positive customer feedback on its new OlympusV Max cooling solution designed for data centers.
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