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Get filing alertsSPX Technologies raises 2026 guidance on 17% Q1 revenue growth, strong HVAC demand
Filed April 30, 2026 · Period ending April 30, 2026 · ~1 min read
Key Changes
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high
Q1 revenue rose 17.4% to $566.8M (7.4% organic), adjusted EPS up 22.5% to $1.69, and adjusted EBITDA up 22.9% to $126.1M, driven by strong demand across key end markets and recent acquisitions.
Exhibit 99.1 view on EDGAR → -
high
Full-year 2026 guidance raised: revenue to $2.575-$2.645B (from $2.535-$2.605B), adjusted EBITDA to $600-$625M (from $590-$620M), and adjusted EPS to $7.75-$8.15 (from $7.60-$8.00).
Exhibit 99.1 view on EDGAR → -
high
HVAC segment revenue grew 22% to $394M with 9.6% organic growth from data center cooling and heating products, though margin compressed 40bps to 22.5% on capacity expansion costs.
Exhibit 99.1 view on EDGAR → -
high
Detection & Measurement segment revenue rose 8.3% to $172.8M with margin expanding 410bps to 27% on favorable product mix including higher-margin software-as-a-service revenue.
Exhibit 99.1 view on EDGAR → -
medium
Total debt increased to $674M from $501.6M and cash declined to $158.3M from $366M as the company deployed $439.6M for acquisitions and increased net borrowings by approximately $172M.
Exhibit 99.1 view on EDGAR →
Summary
SPX Technologies reported strong first quarter 2026 results and raised full-year guidance across all metrics, signaling confidence in sustained momentum. Revenue grew 17.4% to $566.8 million with 7.4% organic growth, while adjusted EPS increased 22.5% to $1.69 and adjusted EBITDA rose 22.9% to $126.1 million.
The HVAC segment drove performance with 22% revenue growth to $394 million, fueled by robust demand for data center cooling products and heating systems, though margin compressed 40 basis points to 22.5% due to capacity expansion costs.
The Detection & Measurement segment delivered 8.3% revenue growth with a notable 410 basis point margin expansion to 27%, benefiting from higher-margin software-as-a-service revenue in transportation systems. Management raised 2026 revenue guidance to $2.575-$2.645 billion (up from $2.535-$2.605 billion), adjusted EBITDA to $600-$625 million (up from $590-$620 million), and adjusted EPS to $7.75-$8.15 (up from $7.60-$8.00), reflecting approximately 15%, 21%, and 18% year-over-year growth at the midpoints respectively. The company deployed $439.6 million for acquisitions during the quarter, increasing total debt to $674 million while cash declined to $158.3 million. For holders, the combination of organic growth acceleration, margin expansion in Detection & Measurement, and raised guidance suggests the business is executing well on its growth strategy, though the HVAC margin compression and increased leverage from acquisition activity warrant monitoring.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Revenue of $566.8 million, up 17.4%, including 7.4% organically
•GAAP income from continuing operations of $64.4 million, up 24.6%
•GAAP EPS of $1.27, up 15.5%
•Adjusted EPS* of $1.69, up 22.5%
•Adjusted EBITDA* of $126.1 million, up 22.9%
SPX reported strong first quarter 2026 results with revenue of $566.8 million (up 17.4% year-over-year, including 7.4% organic growth). GAAP income from continuing operations increased 24.6% to $64.4 million, while GAAP EPS rose 15.5% to $1.27. On an adjusted basis, EPS grew 22.5% to $1.69 and EBITDA increased 22.9% to $126.1 million, reflecting healthy demand across key end markets and contributions from recent acquisitions.
Added in current filing · view on EDGAR →
•Revenue range of $2.575 to $2.645 billion, up ~15% year-on-year at the midpoint (prior range: $2.535 to $2.605 billion).
•Adjusted EBITDA* range of $600 to $625 million, up ~21% year-on-year at the midpoint (prior range: $590 to $620 million).
•Adjusted EPS* range of $7.75 to $8.15, up ~18% year-on-year at the midpoint (prior range: $7.60 to $8.00).
SPX raised its full-year 2026 guidance across all key metrics. Revenue guidance increased to $2.575-$2.645 billion (from $2.535-$2.605 billion), representing approximately 15% year-over-year growth at the midpoint. Adjusted EBITDA guidance rose to $600-$625 million (from $590-$620 million), implying approximately 21% growth at the midpoint. Adjusted EPS guidance increased to $7.75-$8.15 (from $7.60-$8.00), representing approximately 18% growth at the midpoint. Management cited strong first quarter performance and positive outlook for the remainder of the year.
Added in current filing · view on EDGAR →
Revenue $394.0 $323.0 | •Organic | 9.6 % | •Inorganic 11.5 % | •Currency 0.9 % | Total Growth 22.0 % | Segment income $88.6 $73.9 | as a percent of revenues22.5 %22.9 % | Change in bps-40bps
The HVAC segment delivered strong revenue growth of 22.0% to $394.0 million, driven by 9.6% organic growth (primarily from higher volumes of cooling products for data centers and heating products) and 11.5% inorganic growth from acquisitions (Sigma & Omega, Thermolec, Crawford United). Segment income increased to $88.6 million but margin declined 40 basis points to 22.5%, primarily due to incremental start-up costs and inefficiencies from capacity expansion initiatives, partially offset by leverage on fixed costs from higher volumes.
Added in current filing · view on EDGAR →
Revenue $172.8 $159.6 | •Organic | 3.0 % | •Inorganic 3.9 % | •Currency 1.4 % | Total Growth 8.3 % | Segment income $46.7 $36.6 | as a percent of revenues27.0 %22.9 % | Change in bps410bps
The Detection & Measurement segment reported revenue growth of 8.3% to $172.8 million, with 3.0% organic growth (primarily from higher volumes in transportation systems) and 3.9% inorganic growth from the KTS acquisition. Segment income increased to $46.7 million with margin expanding 410 basis points to 27.0%, driven by revenue growth and a more favorable product mix including higher software-as-a-service revenue in transportation systems which carries higher-than-typical margins.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 24, 2026 · How we verify