SPX Technologies Q3 GAAP EPS $1.08, adj. EPS $1.39; HVAC margin expands 370 bps

SPX Technologies, Inc.

2024-Q3 EPS reported $3.05 revenue$1,450,200,000

Q3 revenue $483.7M (+7.8% YoY), operating income $78.9M vs $57.7M, net income $50.2M (vs loss of $20.4M).
HVAC revenue $335.3M (+15.9% YoY), segment margin 23.9% (+370 bps on volume, productivity).
Detection & Measurement revenue $148.4M (-7% YoY) on large project comps; margin improved 190 bps to 22.8%.
Full-year 2024 guidance: adj. EBITDA $410-430M, adj. EPS $5.45-$5.60; revenue narrowed to $1.97-$2.00B.
Q3 adj. EBITDA $104.0M (+27% YoY); net operating cash flow $77M; debt $737.8M, cash $129.4M.

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