EarningsQ2 2026 Earnings Report
MX:SPXC Q2 2026 EPS Results
Actual EPS$36.96
Consensus EPS$33.79
Beat/MissBeat by +$3.16
One Year Ago EPS$30.19
MX:SPXC Q2 2026 Revenue Results
Actual Revenue$12.42B
Expected Revenue$11.71B
Beat/MissBeat by +$710.27M
YoY Revenue Growth+22.92%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:SPXC Upcoming Earnings
SPX's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:SPXC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong growth and momentum: double-digit revenue, EBITDA and EPS increases, substantial data-center demand lifting HVAC revenue and backlog, meaningful margin expansion in Detection & Measurement, and an accretive acquisition (Thermolec) that broadens controls capability. Offsetting items include near-term HVAC margin pressure from startup costs/tariffs/inflation, lumpiness in D&M driven by project timing (including a $15M pull-forward), back‑half weighted CapEx and operational ramp risks, and a pro forma leverage increase. On balance the positive growth, cash generation and strategic M&A outweigh the near-term headwinds.Company Guidance
Strong book-to-bill in HVAC
Reported HVAC book-to-bill approximately 1.4x in the quarter, reflecting robust demand and backlog build versus shipments.
Strong top-line and profitability growth
Q2 revenue +23% year-over-year (17% organic); adjusted EBITDA +20% YoY; adjusted EPS +22% YoY to $2.02; consolidated segment income +$31.3M (+23%) to $167.1M; consolidated segment margin 24.6%.
Material data center demand and capacity upside
Company raised 2026 data center revenue expectation to ~$430M (up from prior plans) and now expects total data center capacity of $1.1B at full production (previously ~$750M); Olathe and Springfield throughput exceeded expectations and Madison assembly launched.
HVAC segment growth and backlog
HVAC revenue +27.6% YoY (18.9% organic, 8.5% inorganic); segment backlog $919M, up 59% organically YoY, driven primarily by strong data center demand.
Detection & Measurement margin expansion and income growth
D&M revenue +13% YoY; segment income +43% YoY; segment margin increased 610 basis points largely driven by favorable high-margin project mix and successful synergy initiatives.
Thermolec acquisition strengthens product breadth and is accretive
Thermolec adds intelligent controls, electric duct heaters, humidification and valves; disclosed ~ $75M of full-year revenue contribution, mid-40s EBITDA margin profile, purchase multiple ~12.5x and expected modest accretion (~$5M–$6M) to 2026 results; also expands addressable market and control-stack capabilities.
Healthy cash generation and conservative leverage
Q2 adjusted free cash flow ~ $72M; cash on hand $168M, total debt $615M; leverage ratio 0.7x at quarter end and ~1.4x on a pro forma basis including Thermolec, leaving room for further M&A within target leverage profile.
Raised full-year guidance
Increased full-year adjusted EPS midpoint by $0.45 to $8.40; updated guidance midpoint implies ~27% adjusted EBITDA growth driven by higher data center volume, stronger D&M performance and Thermolec contribution.
MX:SPXC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed