SPX Technologies 2025 Q3 Earnings Revenue Surges 22.6%, EPS Jumps 32.4%

SPX Technologies (SPXC) delivered a strong third-quarter performance, significantly exceeding analyst expectations with 22.6% revenue growth and a 32.4% increase in adjusted EPS. The company raised its full-year 2025 guidance for both revenue and adjusted EBITDA, signaling confidence in sustained momentum.

Revenue

SPX Technologies reported total revenue of $592.8 million in Q3 2025, a 22.6% year-over-year increase driven by robust performance across its two core segments. The HVAC segment, which accounts for the majority of the company’s revenue, generated $387.4 million, reflecting steady demand in industrial and commercial markets. Meanwhile, the Detection & Measurement segment contributed $205.4 million, fueled by strong project sales and recent acquisitions. Consolidated revenue growth underscored the company’s ability to leverage operational efficiencies and strategic inorganic expansion.

Earnings/Net Income

Adjusted earnings per share (EPS) surged 32.4% to $1.84 in Q3 2025, outpacing the prior year’s $1.39 and significantly beating analyst estimates. Net income reached $62.70 million, a 24.9% increase from $50.20 million in 2024 Q3. The earnings growth highlights SPX Technologies’ enhanced profitability and margin expansion, driven by higher volumes, cost management, and acquisition synergies. This performance positions the company to deliver robust returns to shareholders.

Post-Earnings Price Action Review

Following the release of its Q3 results, SPX Technologies’ stock experienced a mixed reaction. While the company’s strong earnings and guidance raised investor optimism, the stock initially declined 0.58% to $200 at market close and further dipped 2.07% in aftermarket trading to $195.86. Analysts attributed the dip to concerns over potential long-term dilution from the $575 million equity offering, despite management’s assurances that it would not impact 2025 EPS. However, the broader market context, including strong demand in data centers and healthcare, suggests underlying confidence in SPX’s growth trajectory.

CEO Commentary

President and CEO Gene Lowe emphasized the company’s “robust third-quarter performance,” citing significant profit and margin growth across both segments. He highlighted operational efficiencies, momentum in key markets, and the benefits of recent acquisitions, including KTS and Sigma & Omega. Lowe also noted the company’s strengthened balance sheet, which now provides over $1.6 billion in liquidity for organic and inorganic growth opportunities. He expressed confidence in Q4 execution and a “positive outlook” for 2025, with a focus on expanding the Olympus Max product line and executing disciplined M&A.

Guidance

SPX Technologies raised its full-year 2025 guidance, projecting adjusted EBITDA of $495–515 million (up ~20% year-on-year) and revenue of $2.225–2.275 billion (~13% growth). Segment-specific targets include HVAC revenue of $1.5–1.53 billion with margins of 24.25–24.75%, and Detection & Measurement revenue of $725–745 million with margins of 23.25–23.75%. Adjusted EPS is now expected to reach $6.65–6.80, a ~21% increase year-on-year. These updates reflect strong Q3 results and optimism for year-end execution.

Additional News

SPX Technologies has accelerated its strategic expansion through acquisitions, including KTS and Sigma & Omega, which have bolstered its Detection & Measurement capabilities. The company also announced a $575 million equity offering to strengthen liquidity, enabling investments in organic initiatives like the Olympus Max product launch and disciplined M&A. Additionally, SPX Technologies plans to expand its TAMCO facility by 150,000 square feet by Q1 2026 to support growing demand in engineered air movement solutions. These moves underscore the company’s commitment to leveraging its strong cash flow and market position for long-term growth.

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