SPXC
SPX Technologies, Inc.216.89
-1.24-0.57%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A boosts DC growth visibility
Q&A unpacked data center details absent from prepared remarks, pegging 2025 revenue above $200M (9% of total, up from prior 7%) with 50% growth targeted for 2026 via Olympus Max's $50M bookings now converting. Acquisitions add ~$110M revenue over 11 months at superior margins, with channel/ops synergies highlighted. D&M's record backlog masks a $20M project pull-forward headwind, flattening top-line despite GDP+ run-rate gains. Capacity ramps to $700M potential by 2028 face startup costs curbing HVAC margin expansion. End markets mix softer in semis/CRE but firm ex-DC. Management stayed bullish on visibility. Olympus Max is a winner.
Key Stats
Market Cap
10.81BP/E (TTM)
46.05Basic EPS (TTM)
4.71Dividend Yield
0%Recent Filings
10-K
FY2025 results
SPX Technologies crushed FY2025 with revenues jumping 14.2% y/y to $2,265.1M, fueled by HVAC's 11.2% surge to $1,518.2M on cooling strength and acquisitions like Sigma & Omega, while Detection & Measurement leaped 20.6% to $746.9M via KTS buy and organic project gains. Operating income rose 13.6% to $350.4M as margins held firm at 40.5% gross despite integration costs, with HVAC backlog swelling 34% to $584.5M (83% due 2026). Q4 accelerated on data center demand and capacity expansions, capex hit $92.1M including $62M for cooling growth, debt fell to $501.6M with $1,489.5M revolver room after equity raise. Backlogs signal momentum, but raw material tariffs threaten margins.
8-K
SPX crushes 2025 results
SPX Technologies crushed Q4 and full-year 2025 with revenue up 19.4% to $637.3M and 14.2% to $2.265B, driven by organic growth and acquisitions like KTS and Sigma & Omega. Adjusted EBITDA soared 22.3% to $142.0M in Q4, margins expanded across HVAC and Detection & Measurement. Acquisitions fuel the fire. 2026 guidance projects revenue $2.535-$2.605B, Adjusted EBITDA $590-$620M, but excludes future deals.
10-Q
Q3 FY2025 results
SPX Technologies crushed Q3 with revenues jumping 22.6% y/y to $592.8M, fueled by organic growth and KTS/Sigma & Omega buys in Detection & Measurement and HVAC segments; operating income rose 23% y/y to $97.1M while gross margins held steady near 40%. Diluted EPS from continuing ops hit $1.29, up 19% y/y on 48.919M shares, matching the topline surge. Cash swelled to $229.4M on $551.1M equity raise that cleared revolver debt, leaving $1,489M availability under the amended $2B facility maturing 2030—term debt sits at $499.8M. KTS closed Jan 2025 for $340M cash (noting $46.5M retention escrow), adding $102.8M goodwill and intangibles amortized over 2-15 years. Acquisitions drive the momentum. Tariffs loom as a wildcard.
8-K
SPX crushes Q3, raises guidance
SPX Technologies crushed Q3 with $592.8M revenue, up 22.6% YoY, and Adjusted EBITDA of $136.1M, up 30.9%, fueled by organic growth and acquisitions like Sigma & Omega and KTS. Both HVAC and Detection & Measurement segments expanded margins through leverage. Raised full-year Adjusted EBITDA guidance to $495-515M. Momentum builds.
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