SPX Corp. (SPXC) Tops Q4 EPS by 5c, Revenues Beat; Offers FY19 EPS Mid-Point Guidance Above Consensus

SPX Corp. (NYSE: SPXC) reported Q4 EPS of $0.89, $0.05 better than the analyst estimate of $0.84. Revenue for the quarter came in at $428.7 million versus the consensus estimate of $406.9 million.

Gene Lowe, President and CEO, remarked, “I am very pleased with our strong operational and financial performance during 2018. Our earnings increased substantially, driven by strong results in our HVAC and Detection & Measurement segments.”

Mr. Lowe continued, “We are off to a solid start in 2019, as we continue implementing positive changes to further enhance the performance of our businesses. Overall, our end markets remain healthy, and our 2019 guidance reflects our expectations for another year of significant growth in adjusted EPS. Our recent acquisition of Sabik, within our Detection & Measurement segment, further strengthens our strategic positioning in engineered, specialty lighting solutions. Additionally, our solid balance sheet and strong cash flow trends position us well to continue investing for sustainable double-digit earnings growth. Our company is the strongest it has been in years and I am very excited about our accomplishments, as well as the opportunities ahead of us for driving further growth and value creation.”

GUIDANCE:

SPX Corp. sees FY2019 EPS of $2.50-$2.65, versus the consensus of $2.51.

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

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