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CHARLOTTE, N.C. - SPX Technologies, Inc. (NYSE:SPXC) saw its shares climb 2.7% after the company reported in-line fourth quarter earnings and provided an upbeat outlook for 2025.
The industrial equipment manufacturer posted adjusted earnings per share of $1.51 for Q4 2024, matching analyst estimates. Revenue came in at $533.7 million, slightly below the consensus of $534 million but up 13.7% YoY.
For the full year 2025, SPX forecasts adjusted EPS of $6.00-$6.25, above the $6.11 analyst consensus. The company expects revenue of $2.13-$2.19 billion, also topping estimates of $2.14 billion.
"Looking ahead we see healthy demand in key markets and favorable execution trends in our businesses, positioning us well to achieve another year of solid growth," said Gene Lowe, President and CEO of SPX Technologies.
The company’s HVAC segment saw strong performance in Q4, with revenue rising 18.6% to $370.5 million. Segment income margin expanded 140 basis points to 24.8%.
For the full year 2024, SPX reported adjusted EPS of $5.58, up 29% from $4.31 in 2023. Revenue grew 13.9% to $1.98 billion.
The positive market reaction suggests investors are encouraged by SPX’s growth outlook for 2025 despite macroeconomic uncertainties. The company’s ability to expand margins and deliver double-digit earnings growth has bolstered confidence in its near-term prospects.
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