SPX Technologies Shares Rise After Strong Q2 Results and Acquisition
Shares of SPX Technologies (NYSE: SPXC) surged after the company reported strong fiscal second-quarter results, driven by a recent acquisition and growing demand in data center thermal management. Revenue rose 23% year-over-year to $679 million, with adjusted EBITDA climbing 20% to $152 million. The acquisition of Neptronic has expanded SPX's HVAC offerings and boosted its leadership position in the market. Management raised full-year revenue guidance to approximately $2.7 billion and expects adjusted earnings per share growth of around 24%, reaching $8.40. CEO Gene Lowe highlighted increased manufacturing capacity and strong performance from the detection and measurement segment as key factors behind the improved outlook.
Tickers: $SPXC
Topics: acquisition impact AI infrastructure data centers HVAC