SPX Corp is a diversified global supplier of highly engineered solutions, primarily catering to the HVAC and industrial markets. The company designs and manufactures a range of products, including heat exchangers, pumps, and specialty valves, as well as providing services that enhance operational efficiency and performance. SPX Corp focuses on innovation and quality, leveraging advanced technologies to deliver reliable solutions that meet the needs of its customers while addressing industry challenges such as energy efficiency and sustainability. Through its commitment to excellence, SPX Corp plays a crucial role in supporting infrastructure and enhancing manufacturing processes across various sectors.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at SPX Technologies (NYSE:SPXC) and its peers.
Industrial conglomerate SPX Technologies (NYSE:SPXC) missed Wall Street’s revenue expectations in Q3 CY2024, but sales rose 7.8% year on year to $483.7 million. The company’s full-year revenue guidance of $1.99 billion at the midpoint also came in slightly below analysts’ estimates. Its non-GAAP profit of $1.39 per share was 2.5% above analysts’ consensus estimates.
The CPI report sparked a massive sector rotation; investors are shedding overbought big tech names like Microsoft and NVIDIA in favor of risk-on assets.
