SPX Corp. (SPXC) Tops Q2 EPS by 6c, Revenues Beat; Offers FY18 EPS Mid-Point Below Consensus

SPX Corp. (NYSE: SPXC) reported Q2 EPS of $0.53, $0.06 better than the analyst estimate of $0.47. Revenue for the quarter came in at $379.2 million versus the consensus estimate of $346.88 million.

Gene Lowe, President and CEO, remarked, “I am pleased with our overall results and accomplishments for the quarter. Our strong first half operating performance in our HVAC and Detection & Measurement segments position the company to achieve our full-year Adjusted EPS* guidance of $2.15-$2.25, representing 25% earnings growth at the mid-point.”

Mr. Lowe continued, “During the quarter, we achieved several important goals on our value creation roadmap. We completed a highly complementary acquisition in our Detection & Measurement segment. Within the Engineered Solutions segment, we anticipate a resumption in revenue growth next year, after substantially reshaping that segment and moving away from businesses focused on power-generation end markets, including our recent actions to exit the Heat Transfer business. With strong cash generation anticipated in the second half of 2018, SPX remains well-positioned to execute on further capital allocation actions to drive value for shareholders.”

GUIDANCE:

SPX Corp. sees FY2018 EPS of $2.15-$2.25, versus the consensus of $2.24.

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

You May Also Be Interested In

• Wex, Inc. (WEX) Tops Q2 EPS by 29c; raises guidance
• Sonoco (SON) Tops Q2 EPS by 2c; offers guidance
• Es Bancshares, Inc. (ESBS) Tops Q2 EPS by 13c