SPX Technologies: Q1 Earnings Snapshot

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CHARLOTTE, NC (AP) — CHARLOTTE, NC (AP) — SPX Technologies, Inc. (SPXC) on Thursday reported first-quarter profit of $42.8 million.…

CHARLOTTE, NC (AP) — CHARLOTTE, NC (AP) — SPX Technologies, Inc. (SPXC) on Thursday reported first-quarter profit of $42.8 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had a profit of 92 cents. Earnings, adjusted for one-time gains and costs, were 93 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The infrastructure equipment supplier posted revenue of $399.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $331.8 million.

SPX Technologies expects full-year earnings in the range of $3.80 to $3.95 per share, with revenue in the range of $1.61 billion to $1.65 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPXC at https://www.zacks.com/ap/SPXC

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