SPX Corp. (NYSE: SPXC) reported Q2 EPS of $0.64, $0.18 better than the analyst estimate of $0.46. Revenue for the quarter came in at $371.2 million versus the consensus estimate of $346.75 million.

Gene Lowe, President and CEO, remarked, “I am very pleased with our second quarter performance, which reflects solid operational execution and highlights the strengths of our balanced portfolio and our business system, which has allowed us to quickly adapt to changing conditions. Although we experienced COVID-19 pandemic-related headwinds during Q2, we maintained stable revenues and adjusted operating income.”

Mr. Lowe continued, “As we assess the key drivers of our performance for the second half of 2020, we see continued risks associated with the spread of COVID-19 in our largest market, the United States. However, we have multiple tools to continue successfully navigating through the pandemic, and anticipate generating significant cash and profits during the remainder of the year. We ended the second quarter with a very strong balance sheet and available liquidity, positioning us for continued capital deployment, including attractive acquisition opportunities that accelerate our strategic growth plans.”

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