SPX CorpSPXC
▲ PositiveCapitalrelevance
Strong Q2 earnings beat and raised full-year guidance
Impact on stocks 1
Smart City / Autonomous Infrastructure
SPX CorpSPX Technologies Shares Surge 13.7% on Strong Earnings and Raised Outlook
Earnings
SPX Technologies shares jumped 13.7% after the infrastructure equipment supplier reported second-quarter results that beat Wall Street expectations and raised its full-year guidance. Revenue reached $679 million, up 22.9% year over year and ahead of analyst estimates, while adjusted earnings per share came in at $2.02, topping consensus forecasts by 9.3%. The company cited strong organic revenue growth of 16.9% and lifted its full-year revenue guidance to a midpoint of $2.74 billion and its adjusted EPS forecast to $8.40. The improved outlook signaled management's confidence in continued strong demand for its HVAC and Detection & Measurement products.
SPX CorpStrong Q2 earnings beat and raised full-year guidance