SPX Technologies Set to Unveil 2026 Outlook After a Blockbuster 2025

CHARLOTTE, NC – January 16, 2026 – SPX Technologies has announced it will release its highly anticipated fourth-quarter and full-year 2025 financial results on Tuesday, February 24, 2026, after the market closes. The announcement, a routine event on the corporate calendar, carries significant weight this year as it will cap a period of remarkable growth and provide the first official glimpse into the company's financial trajectory for 2026.

Investors and market analysts are keenly awaiting the subsequent conference call, where President and CEO Gene Lowe and CFO Mark Carano will detail the performance and present the company's forward-looking guidance. The report is expected to provide critical insights into the health of the HVAC and detection and measurement sectors, where SPX holds leadership positions, and will be a key test of the company’s ability to sustain its powerful momentum.

A Year of Exceeding Expectations

SPX Technologies enters this earnings season on the back of an exceptionally strong fiscal year 2025, characterized by a consistent pattern of outperformance and upwardly revised forecasts. Throughout the year, the company repeatedly surpassed analyst expectations, building a track record of robust execution.

In the third quarter of 2025, SPX reported an adjusted earnings per share (EPS) of $1.84, decisively beating the consensus estimate of $1.60. Revenues for the quarter reached $592.8 million, a 22.6% year-over-year increase that also sailed past market predictions. This followed a similar story in the second quarter, where an adjusted EPS of $1.65 topped forecasts of $1.45 on revenues that grew 10.2% year-over-year to $552.4 million.

This sustained performance prompted management to raise its full-year 2025 guidance multiple times. As of its last update following the third quarter, SPX projected full-year adjusted EPS in the range of $6.65 to $6.80, representing an approximate 21% year-over-year growth at the midpoint. This was an increase from a prior range of $6.35 to $6.65. Similarly, guidance for adjusted EBITDA was lifted to a range of $495 million to $515 million, signaling confidence from the leadership team that the operational strength seen in the first three quarters would carry through to the end of the year.

This history sets a high bar for the upcoming announcement. Investors will be scrutinizing the Q4 results not just for another beat, but for the quality of earnings and the underlying trends that drove them, seeking confirmation that the company’s growth engine is still running at full throttle.

Segment Strength and Strategic Initiatives

The company’s impressive 2025 results were not concentrated in one area but were driven by substantial growth across both of its core business segments. The HVAC segment, a critical pillar of SPX's portfolio, saw its revenue climb 15.5% in the third quarter, fueled by strong demand for heating and cooling products, particularly from high-growth end markets like data centers, healthcare, and other institutional clients. Strategic acquisitions, including Sigma & Omega, also contributed positively to the segment's top-line performance.

Even more striking was the performance of the Detection & Measurement segment, which posted a remarkable 38.4% revenue increase in the third quarter. This surge was attributed to higher project volumes in its communication technologies business, significantly bolstered by the integration of acquisitions like KTS (Kranze Technology Solutions), which scaled SPX's presence in the sector. The segment's performance also reflects improved project execution and a favorable product mix that has enhanced profitability.

Looking ahead, management has already signaled a focus on strategic initiatives designed to fuel future growth. The company is actively expanding production capacity for its Engineered Air Movement businesses to meet sustained demand. Furthermore, the recent introduction of innovative products like the OlympusV Max cooling solution, specifically engineered for the demanding energy and water efficiency requirements of modern data centers, showcases a commitment to aligning its product roadmap with powerful secular trends. These initiatives are expected to be key contributors to performance in 2026 and beyond.

The Financial Blueprint for Future Growth

Underpinning SPX Technologies' operational success is a deliberately fortified financial foundation. During 2025, the company executed a strategic refinancing and an equity raise, which together increased its available liquidity by over $1 billion. This move significantly strengthened the balance sheet, reducing total debt and bringing its leverage ratio to a very healthy 0.5 times as of the last report.

This financial firepower provides substantial flexibility for the company to pursue its dual-pronged growth strategy: aggressive internal investment and disciplined mergers and acquisitions (M&A). Management has previously highlighted a robust pipeline of attractive M&A opportunities, and the strengthened balance sheet gives them the capacity to act decisively. The successful integration of recent acquisitions like Ingénia and KTS has already proven to be a key element of its value-creation model, and the market will be listening for any commentary from Lowe or Carano on the future of this M&A strategy.

This strong financial position also allows SPX to invest confidently in organic growth, from the aforementioned capacity expansions to ongoing research and development. This strategic approach is designed to ensure the company can not only capture current market demand but also innovate to secure its leadership position in the years to come.

Spotlight on 2026 Guidance

While the full-year 2025 results will officially close the books on a successful year, the primary focus for the investment community on February 24th will be the new financial guidance for fiscal year 2026. Analyst sentiment has been positive, with firms like B. Riley Securities and UBS issuing “Buy” ratings in recent months, but the company’s own forecast will set the definitive tone for the year.

Providing a degree of confidence is the company's substantial backlog. At the end of the third quarter, the HVAC segment reported a backlog of $579 million, with the Detection & Measurement segment holding a steady backlog of $366 million. This provides significant revenue visibility heading into 2026. However, management has previously noted that some project sales originally slated for 2026 were pulled forward into 2025, a detail analysts will want clarified to accurately model the year-over-year growth comparison.

The 2026 guidance will serve as a barometer for the broader industrial economy and will be interpreted as management's official read on demand trends, supply chain stability, and the impact of macroeconomic factors. The numbers presented by Lowe and Carano will be scrutinized to determine if the impressive margin expansion and profit growth seen in 2025 are sustainable as the company moves forward. Ultimately, the upcoming call will be a crucial moment for SPX Technologies to demonstrate that its recent success is not just a temporary surge but the result of a durable strategy poised for continued execution.