The earnings call reflected a strong performance in Q2 2025, with increased guidance and notable growth in key segments like Data Center and Detection & Measurement. However, there were some challenges related to tariffs impacting margins. Overall, the highlights significantly outweigh the lowlights.

Company Guidance -

Q3 2025

During the Q2 2025 earnings call for SPX Technologies, the company provided updated guidance reflecting strong performance and future expectations. The adjusted earnings per share (EPS) grew by 16% year-over-year, reaching $1.65, and the full-year adjusted EPS guidance was raised to a range of $6.35 to $6.65, indicating a 16.5% growth at the midpoint. Revenue for the second quarter increased by 10%, driven by acquisitions and project sales, with adjusted EBITDA rising 16% year-over-year. The company anticipates a full-year adjusted EBITDA growth of 18% at the midpoint. Segment highlights included a 5.7% revenue growth in HVAC, with a 14.5% increase in segment income, and a 21% revenue growth in the Detection & Measurement segment. The company also reported a solid backlog in both segments and highlighted ongoing progress in capacity expansions and new product initiatives, such as the OlympusV Max for data centers. Additionally, SPX Technologies plans to maintain its robust M&A pipeline to further support growth.

Strong Q2 Performance and Raised Full Year Guidance

SPX Technologies reported a 16% increase in adjusted EPS for Q2 2025 and raised its full-year guidance, anticipating an 18% growth in adjusted EBITDA at the midpoint. The revenue grew by 10% year-over-year, largely driven by acquisitions and project sales.

Significant Progress in Engineered Air Movement and Data Center Segments

SPX made meaningful progress in its Engineered Air Movement business, with plans for U.S. production expansion. The OlympusV Max product launch is expected to strengthen SPX's position in the data center cooling solutions market.

Detection & Measurement Segment Growth

The Detection & Measurement segment saw a 21% revenue increase year-over-year, with organic growth at 5.5% and significant contributions from the KTS acquisition.

Strong Financial Position and M&A Pipeline

SPX ended Q2 with $137 million in cash and a leverage ratio of 1.7x. The company maintains a robust M&A pipeline with several opportunities.

SPX (SPXC) Earnings, Revenues Date & History

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SPXC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	1.63 / -	1.39	―	―	―
Jul 31, 2025	2025 (Q2)	1.45 / 1.65	1.42	16.20% (+0.23)
May 01, 2025	2025 (Q1)	1.17 / 1.38	1.25	10.40% (+0.13)
Feb 25, 2025	2024 (Q4)	1.51 / 1.51	1.25	20.80% (+0.26)
Oct 30, 2024	2024 (Q3)	1.38 / 1.39	1.06	31.13% (+0.33)
Aug 01, 2024	2024 (Q2)	1.25 / 1.42	1.06	33.96% (+0.36)
May 02, 2024	2024 (Q1)	1.04 / 1.25	0.93	34.41% (+0.32)
Feb 22, 2024	2023 (Q4)	1.26 / 1.25	1.17	6.84% (+0.08)
Nov 02, 2023	2023 (Q3)	0.97 / 1.06	0.81	30.86% (+0.25)
Aug 02, 2023	2023 (Q2)	0.83 / 1.06	0.71	49.30% (+0.35)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SPXC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$182.39	$196.36	+7.66%
May 01, 2025	$136.67	$144.73	+5.90%
Feb 25, 2025	$136.34	$151.21	+10.91%
Oct 30, 2024	$158.97	$143.49	-9.74%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.