What caused SPXC's Q3 earnings to miss forecasts?

SPX Technologies (SPXC) missed earnings forecasts due to weak revenue growth from its segments, particularly in the Financial Services segment. Here’s a detailed analysis: 1. **Revenue Shortfall**: The Financial Services segment, which constitutes a significant portion of SPXC's revenue, experienced a revenue shortfall. This segment's revenue was lower than expected, contributing to the overall revenue miss. 2. **Currency Headaches**: The company suffered from unfavorable currency movements, which negatively impacted its revenue. This is evident in the fact that the company's revenue surprise was positive, indicating that actual revenue was higher than expected, but this was partly offset by currency fluctuations. 3. **Strategic Initiatives**: The company is currently implementing strategic initiatives to enhance its organic growth capabilities. These initiatives, although necessary, may have temporarily impacted short-term revenue growth. In summary, SPXC's Q3 earnings miss was primarily due to weak revenue growth from its Financial Services segment, exacerbated by currency headaches and strategic initiatives.