SPX Corp. (NYSE: SPXC) reported Q3 EPS of $0.37, $0.09 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $345.9 million versus the consensus estimate of $342.1 million.

Gene Lowe, President and CEO, remarked, “During the third quarter, we experienced a solid increase in revenue due to strong demand for our heating and cooling products in our HVAC segment, and our recent acquisitions of Schonstedt and CUES in our Detection & Measurement segment. While we also experienced headwinds associated with the impact of Hurricane Florence and higher net input costs, our fourth quarter backlog and current order book leave us confident in our full-year Adjusted EPS* guidance range of $2.15 to $2.25. As we enter the latter part of the year, our strong balance sheet and cash generation profile position us to continue executing on value-accretive capital allocation initiatives, including inorganic opportunities in our key growth platforms.”

SPX now expects moderately higher Core revenue* than its prior 2018 guidance of approximately $1.4 billion. The company continues to expect a similar level of overall Core segment income* as represented by prior guidance, (or approximately $200 million), but is adjusting its Core segment income margin* to approximately 14% (vs 14.0-14.5% prior), reflecting the higher level of Core revenue*. The company continues to expect adjusted operating income margin* of approximately 10% and adjusted earnings per share* in a range of $2.15 to $2.25.

GUIDANCE:

SPX Corp. sees FY2018 EPS of $2.15-$2.25, versus the consensus of $2.27.

For earnings history and earnings-related data on SPX Corp. (SPXC) click here.