SPX Q1 2022 GAAP EPS $0.28, adjusted EPS $0.40; raises full-year guidance

SPX Technologies, Inc.

2022-Q1 EPS reported $0.25 revenue$307,100,000

Q1 revenue $307.1M (+7% YoY); GAAP EPS $0.28 vs $0.50; adjusted EPS $0.40 vs $0.49.
HVAC revenue $193.1M (+10%), but adjusted segment income margin down 240 bps to 10.7% on supply chain and labor constraints.
Detection & Measurement revenue $114.0M (+2.2%); adjusted segment income margin down 480 bps to 16.7% on lower organic revenue.
Full-year 2022 guidance raised: revenue $1.36-1.43B, adjusted EPS $2.55-2.85 (vs $2.50-2.80 prior) reflecting ITL acquisition.
Ended Q1 with $269.5M cash and $242.7M debt; $100M share repurchase authorization in place.

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