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SPX Technologies, Inc. (NYSE:SPXC), a $7.3 billion industrial technology company with strong financial metrics and a "GREAT" health score according to InvestingPro, announced the results of its 2025 Annual Meeting of Stockholders held on Tuesday, May 13, 2025. According to the company’s recent SEC filing, the meeting saw high stockholder participation with approximately 93.93% of the outstanding shares represented.
At the meeting, three key proposals were voted upon. The first proposal involved the election of three directors, Eugene J. Lowe, III, Patrick J. O’Leary, and David A. Roberts, all of whom were elected to serve until the 2027 annual meeting. The vote tallies were as follows: Lowe received 41,760,861 votes for, 284,246 against, and 33,304 abstentions; O’Leary received 41,524,400 votes for, 520,645 against, and 33,366 abstentions; and Roberts received 41,335,715 votes for, 709,411 against, and 33,285 abstentions. There were 1,862,051 broker non-votes for each nominee.
The second proposal was a non-binding advisory vote to approve the compensation of named executive officers as disclosed in the 2025 Proxy Statement. This "Say-on-Pay" proposal was approved with 39,682,129 votes for, 2,210,068 against, and 186,214 abstentions, along with 1,862,051 broker non-votes.
The third and final proposal was the ratification of Deloitte & Touche LLP as the company’s independent registered public accounting firm for 2025. This proposal passed overwhelmingly with 42,882,979 votes for, 998,292 against, and 59,191 abstentions.
The filing also confirmed that the company’s address remains at 6325 Ardrey Kell Road, Suite 400, Charlotte, North Carolina 28277, and the business phone number is 980-474-3700. For a comprehensive analysis of SPX Technologies’ financial health, growth prospects, and 12 additional exclusive insights, access the full Pro Research Report available on InvestingPro.
The company’s SEC filing serves as the source of the information reported.
In other recent news, SPX Corp reported its first-quarter 2025 earnings, surpassing expectations with an adjusted earnings per share (EPS) of $1.38, compared to the forecasted $1.18. Despite this, the company’s revenue was below projections, coming in at $482.6 million against the anticipated $507.6 million. The company has raised its full-year EPS guidance to a range of $6.10 to $6.40, reflecting confidence in its ongoing performance. SPX Corp has also completed the acquisition of Sigma and Omega to enhance its HVAC segment, which is expected to contribute to future growth. Analyst feedback from Wolfe Research and Oppenheimer indicates a positive outlook for SPX Corp, with particular attention to the company’s strategic acquisitions and innovative product launches. Additionally, SPX Corp continues to see opportunities in the data center market for 2025 and 2026. The company’s management highlighted its resilience and diverse demand drivers, which are expected to support continued growth.
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