SPX Technologies reports Q3 EPS $1.06, consensus 97c

Reports Q3 revenue $ $448.7M , consensus $ $429.540M .Gene Lowe, President and CEO remarked, “During Q3, our businesses continued to perform well, and the overall demand for our products remained strong. We achieved significant year-on-year revenue and margin growth, and our recent acquisitions delivered solid results.” Mr. Lowe continued, “Considering our year-to-date performance and outlook, we are increasing our full-year 2023 guidance for Adjusted EPS* to a range of $4.22 to $4.32 from a prior range of $4.15 to $4.30, reflecting year-over-year growth at the midpoint of approximately 38%. With a robust backlog and positive operational momentum, we are well-positioned to finish the year strong. Lowe further commented, “During the quarter we finalized an agreement with Mitsubishi to settle all remaining claims between us with respect to the projects in South Africa. This is a very positive development which ends our involvement with these projects and allows us to further focus on growth.”