NYSE: SPXC
SPX Technologies, Inc.CIK 0000088205 · SIC 3540 · Metalworkg Machinery & Equipment
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (WKC 10-Q) is open in full — no account needed.
SPX Technologies Q3 revenue +20.5% to $714.5M on four HVAC acquisitions; net income +30.6% to $81.9M
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Partner
Trade SPXC commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
SPXC Q2 revenue +23% to $679.0M; operating income +33%
5 material changes detected. Sign up free to read the summary.
SPX Technologies beats Q2, raises 2026 guidance on data center strength and Neptronic deal
4 material changes detected. Sign up free to read the summary.
SPX Technologies appoints JBT Marel CEO Brian Deck to Board
2 material changes detected. Sign up free to read the summary.
SPX Technologies Detection & Measurement segment president to retire January 2027
1 material change detected. Sign up free to read the summary.
Summary not yet generated.
Q1 revenue up 17% to $566.8M on acquisitions; tariff regime shifts as Court voids 2025 levies
5 material changes detected. Sign up free to read the summary.
SPX Technologies raises 2026 guidance on 17% Q1 revenue growth, strong HVAC demand
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Latest financial statements
From 10-Q filed Oct 30, 2026 (period ending Sep 26, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)
(Unaudited; in millions, except per share amounts)
| Description | Three months ended September 26, 2026 | Three months ended September 27, 2025 | Nine months ended September 26, 2026 | Nine months ended September 27, 2025 |
|---|---|---|---|---|
| Revenues | 714.5 | 592.8 | 1,960.3 | 1,627.8 |
| Costs and expenses: | ||||
| Cost of products sold | 435.0 | 353.3 | 1,177.4 | 963.5 |
| Selling, general and administrative | 132.7 | 117.7 | 382.0 | 344.4 |
| Selling, general and administrative intangible amortization | 31.5 | 24.6 | 81.1 | 68.9 |
| Special charges, net | — | 0.1 | 1.8 | 0.2 |
| Other operating expense, net | — | — | — | 0.5 |
| Operating income | 115.3 | 97.1 | 318.0 | 250.3 |
| Other income (expense), net | 1.5 | (3.2) | (6.6) | (2.6) |
| Interest expense | (11.1) | (12.0) | (28.3) | (39.9) |
| Interest income | 0.6 | 1.1 | 2.8 | 3.0 |
| Loss on amendment/refinancing of senior credit agreement | — | (1.5) | — | (1.5) |
| Income from continuing operations before income taxes | 106.3 | 81.5 | 285.9 | 209.3 |
| Income tax provision | (24.0) | (18.4) | (59.9) | (42.0) |
| Income from continuing operations | 82.3 | 63.1 | 226.0 | 167.3 |
| Income from discontinued operations, net of tax | — | — | 1.6 | — |
| Loss on disposition of discontinued operations, net of tax | (0.4) | (0.4) | (7.4) | (1.2) |
| Loss from discontinued operations, net of tax | (0.4) | (0.4) | (5.8) | (1.2) |
| Net income | 81.9 | 62.7 | 220.2 | 166.1 |
| Basic income per share of common stock: | ||||
| Income from continuing operations | 1.64 | 1.31 | 4.52 | 3.55 |
| Loss from discontinued operations | — | (0.01) | (0.12) | (0.02) |
| Net income per share | 1.64 | 1.30 | 4.40 | 3.53 |
| Weighted-average number of common shares outstanding basic | 50.088 | 48.170 | 50.029 | 47.120 |
| Diluted income per share of common stock: | ||||
| Income from continuing operations | 1.62 | 1.29 | 4.47 | 3.50 |
| Loss from discontinued operations | — | (0.01) | (0.12) | (0.02) |
| Net income per share | 1.62 | 1.28 | 4.35 | 3.48 |
| Weighted-average number of common shares outstanding diluted | 50.645 | 48.919 | 50.611 | 47.794 |
| Comprehensive income | 89.8 | 56.1 | 199.6 | 199.7 |
Condensed Consolidated Balance Sheets (Unaudited)
(Unaudited; in millions, except share data)
| Description | September 26, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | 119.2 | 364.0 |
| Accounts receivable, net | 476.6 | 357.2 |
| Contract assets | 90.3 | 65.0 |
| Inventories, net | 422.9 | 302.2 |
| Other current assets | 48.3 | 55.3 |
| Total current assets | 1,157.3 | 1,143.7 |
| Property, plant and equipment: | ||
| Land | 28.3 | 26.9 |
| Buildings and leasehold improvements | 200.7 | 167.9 |
| Machinery and equipment | 407.2 | 338.1 |
| 636.2 | 532.9 | |
| Accumulated depreciation | (262.5) | (242.1) |
| Property, plant and equipment, net | 373.7 | 290.8 |
| Goodwill | 1,612.7 | 1,043.4 |
| Intangibles, net | 1,503.0 | 868.2 |
| Other assets | 196.2 | 250.2 |
| Deferred income taxes | 2.9 | 2.2 |
| Assets of DBT and Heat Transfer (includes cash and equivalents of $1.6 and $2.0 at September 26, 2026 and December 31, 2025, respectively) (Note 3) | 5.8 | 6.1 |
| TOTAL ASSETS | 4,851.6 | 3,604.6 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 201.7 | 145.2 |
| Contract liabilities | 117.6 | 115.8 |
| Accrued expenses | 194.7 | 185.2 |
| Income taxes payable | 26.1 | 10.0 |
| Short-term debt | 74.2 | 1.4 |
| Current maturities of long-term debt | 13.0 | 3.5 |
| Total current liabilities | 627.3 | 461.1 |
| Long-term debt | 1,247.5 | 496.7 |
| Deferred and other income taxes | 277.7 | 149.7 |
| Other long-term liabilities | 239.6 | 245.5 |
| Liabilities of DBT and Heat Transfer (Note 3) | 14.3 | 14.1 |
| Total long-term liabilities | 1,779.1 | 906.0 |
| Commitments and contingent liabilities (Note 15) | ||
| Stockholders' Equity: | ||
| Common stock (57,702,924 and 50,096,200 issued and outstanding at September 26, 2026, respectively, and 57,570,062 and 49,866,896 issued and outstanding at December 31, 2025, respectively) | 0.6 | 0.6 |
| Paid-in capital | 1,940.8 | 1,938.2 |
| Retained earnings | 703.0 | 482.8 |
| Accumulated other comprehensive income | 239.9 | 260.5 |
| Common stock in treasury (7,606,724 and 7,703,166 shares at September 26, 2026 and December 31, 2025, respectively) | (439.1) | (444.6) |
| Total stockholders' equity | 2,445.2 | 2,237.5 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 4,851.6 | 3,604.6 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Unaudited; in millions)
| Description | Nine months ended September 26, 2026 | Nine months ended September 27, 2025 |
|---|---|---|
| Cash flows from (used in) operating activities: | ||
| Net income | 220.2 | 166.1 |
| Less: Loss from discontinued operations, net of tax | (5.8) | (1.2) |
| Income from continuing operations | 226.0 | 167.3 |
| Adjustments to reconcile income from continuing operations to net cash from operating activities: | ||
| Special charges, net | 1.8 | 0.2 |
| Gain on change in value of equity security | (3.6) | (4.5) |
| Loss on amendment/refinancing of senior credit agreement | — | 1.5 |
| Amortization of compensation expense related to acquisition (Refer to Note 3) | 8.7 | 17.4 |
| Deferred and other income taxes | (22.6) | 14.8 |
| Depreciation and amortization | 109.2 | 91.9 |
| Pension and other employee benefits | 14.5 | 12.1 |
| Long-term incentive compensation | 12.3 | 11.8 |
| Other, net, including allowance for doubtful accounts | (2.5) | (0.4) |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures: | ||
| Accounts receivable and other assets | (86.0) | (94.9) |
| Contribution related to employee retention agreements from acquisition (Refer to Note 3) | — | (46.5) |
| Inventories | (90.2) | (26.1) |
| Accounts payable, accrued expenses and other | 13.2 | (3.2) |
| Cash spending on restructuring actions | (0.5) | (1.6) |
| Net cash from continuing operations | 180.3 | 139.8 |
| Net cash used in discontinued operations | (0.8) | (1.7) |
| Net cash from operating activities | 179.5 | 138.1 |
| Cash flows from (used in) investing activities: | ||
| Proceeds (repayments) related to company-owned life insurance policies, net | 3.4 | (30.3) |
| Distribution from equity security (Refer to Note 17) | 61.8 | — |
| Business acquisitions, net of cash acquired | (1,286.6) | (445.3) |
| Capital expenditures | (79.6) | (23.6) |
| Net cash used in continuing operations | (1,301.0) | (499.2) |
| Net cash from discontinued operations | 59.2 | — |
| Net cash used in investing activities | (1,241.8) | (499.2) |
| Cash flows from (used in) financing activities: | ||
| Borrowings under senior credit facilities | 1,049.9 | 978.0 |
| Repayments under senior credit facilities | (289.9) | (1,082.6) |
| Borrowings under trade receivables arrangement | 453.0 | 280.0 |
| Repayments under trade receivables arrangement | (380.0) | (289.0) |
| Net borrowings (repayments) under other financing arrangements | (0.4) | 0.1 |
| Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options | (14.9) | (8.3) |
| Proceeds of issuance of common stock in underwritten public offering, net of offering costs of $23.9 | — | 551.1 |
| Financing fees paid | — | (4.7) |
| Net cash from continuing operations | 817.7 | 424.6 |
| Net cash from (used in) discontinued operations | — | — |
| Net cash from financing activities | 817.7 | 424.6 |
| Change in cash and equivalents due to changes in foreign currency exchange rates | (0.6) | 6.5 |
| Net change in cash and equivalents | (245.2) | 70.0 |
| Consolidated cash and equivalents, beginning of period | 366.0 | 161.4 |
| Consolidated cash and equivalents, end of period | 120.8 | 231.4 |
Amounts as printed on the EDGAR/iXBRL face — (Unaudited; in millions, except per share amounts); (Unaudited; in millions, except share data); (Unaudited; in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗