SPX Corp. (SPXC) Misses Q4 EPS by 1c, Miss on Revenues; Offers FY18 EPS Mid-Point Outlook Below Guidance

SPX Corp. (NYSE: SPXC) reported Q4 EPS of $0.60, $0.01 worse than the analyst estimate of $0.61. Revenue for the quarter came in at $387 million versus the consensus estimate of $390.59 million.

• Q4 and Full-Year 2017 GAAP EPS of $1.35 and $1.91
• Q4 and Full-Year 2017 Adjusted EPS* of $0.60 and $1.78
• Introducing 2018 Full-Year Adjusted EPS* Guidance Range of $2.03-$2.18
• Increasing Capital Availability through 2020 by 50% to More than $600 Million

Mr. Lowe continued, “Our 2018 guidance reflects our expectations for another year of significant growth in adjusted EPS to a range of $2.03-$2.18. With our strong balance sheet and solid operational and cash flow trends, we are well positioned to increase our level of investment in initiatives to drive sustainable double-digit earnings growth. We are raising our long-term targets for capital available to deploy through 2020 by 50%, to more than $600 million, and are raising our 2020 target for Adjusted EPS to a range of $2.65-$2.90, from $2.25-$2.50 previously.”

GUIDANCE:

SPX Corp. sees FY2018 EPS of $2.03-$2.18, versus the consensus of $2.14.

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

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