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Get filing alertsSPX Technologies beats Q2, raises 2026 guidance on data center strength and Neptronic deal
Filed July 30, 2026 · Period ending July 30, 2026 · ~1 min read
Key Changes
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high
Q2 revenue rose 22.9% to $679.0M; adjusted EPS up 41.8% to $2.02, GAAP EPS up 41.8% to $1.56, driven by organic growth and recent acquisitions.
Exhibit 99.1 view on EDGAR → -
high
Raised full-year guidance: revenue to $2.705–$2.765B (from $2.575–$2.645B), adjusted EPS to $8.20–$8.60 (from $7.75–$8.15), reflecting data center demand and Neptronic contribution.
Exhibit 99.1 view on EDGAR → -
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Acquired Neptronic to expand HVAC portfolio with complementary products leveraging existing sales channels; funded with $340M in July 2026 borrowings.
Exhibit 99.1 view on EDGAR → -
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Began Olympus Max assembly at Madison, Alabama facility; raised estimated annual data center revenue capacity to ~$1.1B at full production on improved visibility.
Exhibit 99.1 view on EDGAR →
Summary
SPX Technologies reported strong second-quarter results and raised its full-year outlook, driven by robust data center demand and the strategic Neptronic acquisition. Q2 revenue climbed 22.9% to $679.0 million, with adjusted EPS up 41.8% to $2.02 and GAAP EPS rising 41.8% to $1.56.
The company lifted 2026 guidance across all metrics: revenue now expected at $2.705–$2.765 billion (up from $2.575–$2.645 billion) and adjusted EPS at $8.20–$8.60 (up from $7.75–$8.15), reflecting continued strength in its core markets and the Neptronic deal's contribution.
The Neptronic acquisition expands SPX's HVAC portfolio with complementary products that can be sold through existing channels, funded by $340 million in July borrowings. Meanwhile, the company is scaling manufacturing capacity for data center cooling, with Olympus Max assembly now underway at its Alabama facility. Management raised its estimated annual data center revenue capacity to approximately $1.1 billion at full production, up from prior estimates, signaling confidence in sustained demand. For investors, the combination of strong execution, raised guidance, and strategic capacity expansion positions SPX to capitalize on secular data center growth while broadening its HVAC footprint.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Revenue of $679.0 million, up 22.9%
•GAAP income from continuing operations of $79.3 million, up 51.0%
•GAAP EPS of $1.56, up 41.8%
•Adjusted EPS* of $2.02, up 22.4%
•Adjusted EBITDA* of $151.8 million, up 19.8%
SPX Technologies reported strong second quarter 2026 results with revenue of $679.0 million, up 22.9% year-over-year, driven by robust organic growth and contributions from recent acquisitions. GAAP EPS from continuing operations increased 41.8% to $1.56, while adjusted EPS rose 41.8% to $2.02. Adjusted EBITDA grew 19.8% to $151.8 million, reflecting strong execution across both business segments.
Added in current filing · view on EDGAR →
Revenue range of $2.705 to $2.765 billion, up ~21% year-on-year at the midpoint (prior range: $2.575 to $2.645 billion).
•Adjusted EBITDA* range of $630 to $660 million, up ~27% year-on-year at the midpoint (prior range: $600 to $625 million).
•Adjusted EPS* range of $8.20 to $8.60, up ~24% year-on-year at the midpoint (prior range: $7.75 to $8.15).
SPX Technologies raised its full-year 2026 guidance across all key metrics. The company now expects revenue of $2.705 to $2.765 billion (up from $2.575 to $2.645 billion), adjusted EBITDA of $630 to $660 million (up from $600 to $625 million), and adjusted EPS of $8.20 to $8.60 (up from $7.75 to $8.15). The updated outlook reflects continued strength in data center demand, the Neptronic acquisition impact, and stronger Detection and Measurement segment performance.
Added in current filing · view on EDGAR →
The acquisition of Neptronic expands our HVAC portfolio with highly complementary product categories that leverage our established sales channels.
SPX Technologies disclosed the acquisition of Neptronic, which expands the company's HVAC portfolio with complementary products that can be sold through existing sales channels. The acquisition is expected to contribute to the raised full-year guidance.
Added in current filing · view on EDGAR →
At the same time, we’re increasing manufacturing capacity to support growing demand, with initial assembly of Olympus Max now underway at our Madison, Alabama facility. Given our progress to date and improved visibility, we have increased our estimated annual data center revenue capacity to approximately $1.1 billion once at full production.
SPX Technologies announced that initial assembly of its Olympus Max product has begun at its Madison, Alabama facility as part of a capacity expansion to meet growing data center demand. The company increased its estimated annual data center revenue capacity to approximately $1.1 billion once at full production, up from prior estimates, reflecting improved visibility and progress on manufacturing expansion.
Added in current filing · view on EDGAR →
**Does not include borrowings of $340.0 incurred in July 2026 in connection with funding the acquisition of Neptronic.
SPX Technologies disclosed that it incurred $340.0 million in borrowings in July 2026 to fund the Neptronic acquisition. This debt was not reflected in the Q2 2026 balance sheet as it was incurred after the quarter ended June 27, 2026.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 31, 2026 · How we verify