Earnings Releases·Oct 29, 2026, 4:11 PM ET

SPX Technologies — Third Quarter 2026 Earnings Summary

Revenue grew 20.5% year-over-year to $714.5 million, driven by a 35.5% surge in the HVAC segment (up 22.3% organically and 13.0% inorganically via acquisitions), while the Detection and Measurement segment declined 7.7% due to lower project volumes.
Full-year 2026 revenue guidance was raised to $2.745–$2.805 billion (prior: $2.705–$2.765 billion), though Adjusted EBITDA guidance was slightly lowered to $625–$645 million (prior: $630–$660 million) to reflect margin pressures from elevated input costs and supply chain inefficiencies.
GAAP net income rose 30.6% to $81.9 million and Adjusted EPS increased 20.1% to $2.21, despite Adjusted free cash flow falling to $23.1 million from $90.8 million due to a $40.0 million increase in capital expenditures and higher debt levels.
Strategic growth initiatives advanced with four acquisitions (Thermolec, Crawford, Neptronic, FIS Water) and HVAC capacity expansion projects on track to support $1.1 billion in annual data center revenue capacity at full production.