SPX Q3 adjusted EPS $0.81 vs $0.44; raises FY2022 guidance to $2.85-2.95

SPX Technologies, Inc.

2022-Q3 EPS reported $0.59 revenue$1,031,600,000

Revenue $370.5M (+30% YoY); GAAP EPS $0.27 (includes $0.27 asbestos charge), adjusted EPS $0.81 vs $0.44.
HVAC revenue +27% (organic +16.3%); Detection & Measurement +34.1% (organic +24%).
Guidance raised: FY2022 adjusted EPS $2.85-2.95 (from $2.70-2.85), revenue $1.43-1.47B.
Adjusted operating income $48.3M (13.0% margin) vs $27.4M; segment income margins improved.
Asbestos charge of $16.5M from unfavorable insurance ruling; divestiture of legacy asbestos liabilities.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SPX Technologies, Inc. reported the third quarter ended October 1, 2022 results: revenue $370.5 million, net income $12.5 million, EPS $0.27. Guidance raised.

Period: the third quarter ended October 1, 2022
Revenue: $370.5 million
Net income: $12.5 million
EPS: $0.27
Guidance: raised
Result: reported results

Exact text from the filing

For the third quarter of 2022, the company reported revenue of $370.5 million and operating income of $37.3 million, compared to revenue of $285.7 million and operating income of $17.7 million in the third quarter of 2021. Diluted income per share from continuing operations in the third quarter of 2022 was $0.27, compared to $0.30 in the third quarter of 2021.

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Source: SEC EDGAR

accession 0000088205-22-000041

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