Infrastructure equipment supplier SPX Technologies (NYSE: SPXC) will be reporting earnings this Thursday afternoon. Here’s what to expect.
SPX Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $566.8 million, up 17.4% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is SPX Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting SPX Technologies’s revenue to grow 16.1% year on year, improving from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. SPX Technologies rarely misses Wall Street’s revenue estimates.
Looking at SPX Technologies’s peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 3.9%, missing analysts’ expectations by 1.5%, and Graco reported revenues up 3.3%, falling short of estimates by 3%. Gorman-Rupp traded up 1.2% following the results while Graco was also up 5.2%.
Read our full analysis of Gorman-Rupp’s results here and Graco’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. SPX Technologies is down 14.1% during the same time and is heading into earnings with an average analyst price target of $272.92 (compared to the current share price of $204.59).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
