SPX Technologies
Builds HVAC systems, utility inspection tools, navigation aids, and defense communications equipment.
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Profile
Builds cooling, air-handling, heating, utility inspection, transit, navigation, and defense communications equipment through its HVAC and Detection and Measurement segments. HVAC generates most revenue, while acquisitions broaden a niche-brand portfolio serving commercial, industrial, infrastructure, and government customers.
Builds specialized infrastructure equipment through two reportable segments. HVAC covers cooling towers and fluid coolers, engineered air movement, custom air handling, boilers, heat pumps, and electric heating for industrial, institutional, commercial, and residential sites. Detection and Measurement supplies underground utility locators, pipe inspection and rehabilitation systems, robotics, transit fare collection, navigation aids, and defense communication technologies.
Serves customers globally, with most sales generated in the United States and operations spanning 16 countries. Competes through service, product performance, technical innovation, and price, while expanding adjacent niches through acquisitions. Results depend on integrating acquired businesses, managing steel, aluminum, and copper input costs, and executing fixed-price and U.S. government contracts.
Company facts
Key statistics
Year to date −2.2% · Average volume (30d) 460.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | Wells Fargo | Reiterate | Overweight | $205 | $250 | |
| Jul 20, 2026 | Oppenheimer | Reiterate | Outperform | $134 | $280 | |
| Jul 9, 2026 | Wolfe Research | Reiterate | Outperform | $266 | ||
| Jul 2, 2026 | Truist Financial | Target | $261 | $295 | ||
| May 4, 2026 | Truist Financial | Target | $251 | $261 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $1.85 | $2.02 | +9.2% | $640.2M | $679.0M | +6.1% | +10.20% |
| Apr 30, 2026Q1 FY26 | $1.55 | $1.69 | +9.0% | $557.6M | $566.8M | +1.6% | −4.92% |
| Feb 24, 2026Q4 FY25 | $1.86 | $1.88 | +1.1% | $626.0M | $637.3M | +1.8% | −6.74% |
| Oct 30, 2025Q3 FY25 | $1.60 | $1.84 | +15.0% | $626.0M | $592.8M | −5.3% | +12.59% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $482.6M | $552.4M | $592.8M | $637.3M | $566.8M | $679.0M | |
| Gross profit | $195.9M | $228.9M | $239.5M | $253.4M | $230.6M | $272.8M | |
| Operating income | $66.7M | $86.6M | $97.2M | $101.7M | $87.9M | $116.6M | |
| Net income | $51.2M | $52.2M | $62.7M | $77.9M | $59.9M | $78.4M | |
| Diluted EPS | $1.09 | $1.10 | $1.28 | $1.54 | $1.19 | $1.55 | |
| Gross margin | 40.6% | 41.4% | 40.4% | 39.8% | 40.7% | 40.2% | |
| Operating margin | 13.8% | 15.7% | 16.4% | 16.0% | 15.5% | 17.2% |
Fiscal years (4-quarter sums)FY21 $1.22B · FY22 $1.46B · FY23 $1.74B · FY24 $1.98B · FY25 $2.27B
Revenue by geography · Q2 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $166.4M · Total debt $614.7M · Total assets $3.94B · Shareholders' equity $2.35B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 50.06M · Float 48.93M · 97.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 4.85M | 9.69% | 13F | Aug 7, 2026 |
| Capital International Investors | 2.57M | 5.13% | 13F | Aug 12, 2026 |
| Capital World Investors | 2.34M | 4.67% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 2.27M | 4.53% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.26M | 4.51% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 2, 2026 | Eugene Joseph III Lowe | director, officer: PRESIDENT AND CEO | −41,416 | $225.17 |
| Dec 11, 2025 | J. Randall Data | officer: PRES., HEATING AND GLOBAL OPER | −12,000 | $215.37 |
| Nov 19, 2025 | John William III Swann | officer: PRES., DETECTION & MEASUREMENT | −38,755 | $206.07 |
Peers
- AAON
Direct rival in semi-custom commercial HVAC and data-center liquid cooling.
- Modine
Direct rival in data-center thermal management and commercial HVAC&R.
- Watts Water Technologies
Hydronic, boiler and water-quality overlap; named in the 2025 proxy peer group.
- Mueller Water Products
Echologics leak detection contests CUES and Radiodetection on water utilities.
- Lennox International
Building Climate Solutions rooftops, IAQ and refrigeration overlap HVAC.
- Roper Technologies
Neptune water-metering and niche-measurement overlap; same bolt-on M&A playbook.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SPX Technologies | $198.73 | +0.01% | $9.95B | 35.7 | 21.6 | 4.0 | +22.9% |
| AAON | $76.50 | +0.80% | $6.21B | 39.7 | 27.7 | 3.2 | +101.2% |
| Modine | $179.77 | +1.19% | $9.43B | 66.8 | 21.5 | 2.8 | +28.0% |
| Watts Water Technologies | $366.88 | +0.12% | $12.23B | 32.0 | 27.5 | 4.6 | +18.6% |
| Mueller Water Products | $24.38 | +0.04% | $3.81B | 17.3 | 15.4 | 2.6 | +4.1% |
| Lennox International | $393.40 | −0.01% | $13.60B | 17.8 | 15.8 | 2.6 | +3.0% |
| Roper Technologies | $425.13 | −0.26% | $43.01B | 17.8 | 18.1 | 5.2 | +8.5% |
| Median | 24.9 | 19.8 | 3.0 | +13.5% |