SPX Technologies (SPXC) Earnings Report Tomorrow
Infrastructure equipment supplier SPX Technologies (NYSE:SPXC) is set to announce its earnings results tomorrow after market hours. Here’s what investors can expect.
Recent Performance
Last quarter, SPX Technologies exceeded analysts’ revenue expectations, reporting revenues of $592.8 million, which represents a 22.6% year-on-year increase. The company also significantly surpassed analysts’ EBITDA estimates and adjusted operating income forecasts.
Analysts’ Expectations
For this upcoming quarter, analysts are projecting a 17.7% year-on-year revenue growth, an improvement compared to the 13.7% increase recorded in the same quarter last year. Over the past 30 days, analysts have reaffirmed their estimates, indicating confidence in SPX Technologies' performance heading into earnings.
Comparative Insights
SPX Technologies has faced challenges, missing Wall Street’s revenue estimates several times over the last two years. However, looking at peers in the gas and liquid handling segment, such as Atmus Filtration Technologies and Flowserve, can provide insight into potential outcomes. Atmus reported a 9.8% year-on-year revenue growth, surpassing estimates, while Flowserve's revenue increased by 3.5%, falling short of expectations.
Market Sentiment
Investor sentiment remains positive within the gas and liquid handling segment, with an average share price increase of 7.1% over the past month. SPX Technologies has performed even better, climbing 12.6% during the same period and currently has an average analyst price target of $240, compared to its current share price of $242.36.
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