SPX Q2 adj EPS $0.71, revenue $354M; raises FY22 outlook; plans holding company reorg

SPX Technologies, Inc.

2022-Q2 EPS reported $0.53 revenue$661,100,000

Q2 adjusted EPS $0.71 vs $0.51 YoY; GAAP EPS $0.41 vs $0.38. Revenue $354.0M, up 19%.
FY2022 adjusted EPS guidance raised to $2.70-$2.85 (prior $2.55-$2.85); revenue raised to $1.41-$1.45B.
HVAC revenue $218.7M (+18% YoY); Detection & Measurement $135.3M (+21.7% YoY). Adjusted margins 12.9% and 20.5%.
Repurchased 707k shares for ~$34M in Q2 at avg $47.70; $100M authorization remains.
Plans tax-free holding company reorganization via merger; effective ~Aug 15, 2022. SPXC continues on NYSE (new CUSIP).

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