SPX Corp. (SPXC) Tops Q4 EPS by 4c, Revenues Beat; Offers FY20 EPS/Revenue Guidance

SPX Corp. (NYSE: SPXC) reported Q4 EPS of $0.96, $0.04 better than the analyst estimate of $0.92. Revenue for the quarter came in at $445.1 million versus the consensus estimate of $435.19 million.

Gene Lowe, President and CEO, remarked, “2019 was another milestone year for our company with several notable accomplishments that reflect the hard work and effort of our team. For the fourth year in a row SPX reported significant growth in adjusted EPS and free cash flow. We also completed three attractive, strategic acquisitions, including the fourth quarter purchase of Patterson-Kelley, within our HVAC segment, which accelerates our growth and strengthens our market position in commercial high efficiency boilers.”

Mr. Lowe commented further, “SPX is well positioned to continue delivering on our value creation framework. Our significant after-market and replacement revenue, and steady end-market drivers provide a stable platform for further earnings growth and strong cash generation. Our focus on successful new product introductions and channel initiatives continues to yield organic growth, while our business system drives operational improvements across the company. Additionally, our strong balance sheet and substantial capital availability support further strategic investments to enhance and accelerate our value creation strategy.”

GUIDANCE:

SPX Corp. sees FY2020 EPS of $2.90-$3.05, versus the consensus of $2.96. SPX Corp. sees FY2020 revenue of $1.575-1.615 billion, versus the consensus of $1.59 billion.

• SPX is targeting 2020 adjusted revenue* of approximately $1.6 billion with adjusted segment income margin* of 15.0-16.0% and adjusted operating income margin* of approximately 11.5%.
• Adjusted earnings per share* is expected to be in a range of $2.90 to $3.05.

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
• MindWalk (HYFT) Misses Q4 EPS by 8c
• Goosehead Insurance Inc. (GSHD) Tops Q2 EPS by 16c