SPX Corporation ( (SPXC) ) has released its Q4 earnings. Here is a breakdown of the information SPX Corporation presented to its investors.
SPX Technologies, Inc., based in Charlotte, North Carolina, is a global supplier of highly engineered products and technologies, primarily serving the HVAC and detection and measurement markets. The company is known for its leadership positions in these sectors and operates in over 15 countries with approximately 4,300 employees.
SPX Technologies reported strong financial results for the fourth quarter and full year of 2024, with significant increases in earnings per share and net income compared to 2023. The company achieved a 78% increase in fourth-quarter GAAP EPS and a 123% rise in full-year GAAP net income. The company also introduced a positive guidance range for 2025, anticipating further growth in adjusted EPS.
Key financial metrics for 2024 include a 13.9% increase in revenue to $1.98 billion and a 38.9% rise in operating income to $308.3 million. The HVAC segment saw a revenue increase of 21.6%, driven by higher volumes of cooling products and strategic acquisitions, while the Detection & Measurement segment maintained steady revenue with improved margins. The company’s strategic acquisitions, including Ingénia and Kranze Technology Solutions, have bolstered its market position and growth potential.
Looking ahead, SPX Technologies is optimistic about its growth prospects for 2025, with expectations of double-digit growth in adjusted EBITDA and EPS. The company is well-positioned to capitalize on healthy demand in key markets and favorable execution trends, supported by a strong pipeline of acquisition opportunities and operational momentum.