Infrastructure equipment supplier SPX Technologies (NYSE: SPXC) will be reporting earnings this Thursday after market hours. Here’s what you need to know.
SPX Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $637.3 million, up 19.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but full-year revenue guidance missing 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 15.8% year on year, improving from the 3.7% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SPX Technologies rarely misses Wall Street’s revenue estimates.
Looking at SPX Technologies’s peers in the gas and liquid handling segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 3.5%, and Ingersoll Rand reported revenues up 7.6%, topping estimates by 0.9%. Gorman-Rupp traded up 16.2% following the results.
Read our full analysis of Gorman-Rupp’s results here and Ingersoll Rand’s results here.
There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 14.1% on average over the last month. SPX Technologies is up 13.5% during the same time and is heading into earnings with an average analyst price target of $257.92 (compared to the current share price of $216.55).
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