SPX Technologies, Inc.

SPX Technologies, Inc. is a diversified global supplier of highly engineered products and technologies, primarily serving the heating, ventilation, and air conditioning (HVAC) and detection and measurement markets. Headquartered in Charlotte, North Carolina, the company's mission is to create infrastructure solutions for a smarter, more productive future.

The company operates through two main segments: HVAC and Detection & Measurement. The HVAC segment designs, manufactures, installs, and services cooling products, engineered air movement and handling solutions, and hydronic and electrical heating and ventilation products under various brands such as Marley, Recold, and Weil-McLain. The Detection & Measurement segment provides underground pipe and cable locators, inspection and rehabilitation equipment, transportation systems, communication technologies, and aids to navigation products, with brands including Radiodetection, Cues, and Flash Technology.

Eugene J. Lowe, III has served as President and CEO since 2015, leading the company's strategic direction. SPX Technologies reported strong first-quarter 2026 results, with revenue increasing by 17.4% year-over-year to $566.8 million, and subsequently raised its full-year 2026 guidance. Recent strategic acquisitions, including Crawford United in February 2026 and Thermolec in January 2026, have further expanded its HVAC capabilities. The company maintains leadership positions in its core markets, operating in over 16 countries with approximately 4,700 employees globally.

Latest updates

SPX Technologies Raises Guidance on Acquisition-Driven Growth

Event summary

  • SPX Technologies reported Q1 2026 revenue of $566.8 million, a 17.4% increase year-over-year, with 7.4% organic growth.
  • The company raised its full-year 2026 guidance, now anticipating revenue between $2.575 and $2.645 billion and adjusted EBITDA between $600 and $625 million.
  • Growth was driven by acquisitions (Sigma & Omega, Thermolec, Crawford United, and KTS) and increased demand for data center solutions.
  • Segment income increased across both HVAC and Detection & Measurement, with HVAC revenue up 22.0% and Detection & Measurement up 8.3%.

The big picture

SPX Technologies' strong performance and raised guidance underscore the robust demand within its HVAC and detection & measurement markets, fueled in part by the data center buildout. The company’s aggressive acquisition strategy, while contributing to top-line growth, also introduces integration risk and potential margin pressure. The company's ability to maintain this momentum will depend on navigating macroeconomic uncertainties and successfully integrating its recent acquisitions.

What we're watching

Acquisition Integration
The success of SPX’s continued acquisition strategy will hinge on the ability to effectively integrate acquired businesses and realize anticipated synergies, particularly given the recent string of deals.
Capacity Constraints
Incremental start-up costs associated with capacity expansions may continue to pressure margins in the near term, requiring careful management of operational efficiency.
Tariff Risk
SPX’s commentary on navigating a changing tariff environment suggests potential vulnerability to trade policy shifts, which could impact both costs and demand.
CID: 2696