SPX Technologies Raises Full-Year Guidance on Strong Q2 Performance
Event summary
- SPX Technologies reported Q2 2026 revenue of $679.0 million, up 22.9% year-over-year.
- GAAP EPS increased by 41.8% to $1.56, while adjusted EPS rose by 22.4% to $2.02.
- The company raised its full-year revenue guidance to $2.705-$2.765 billion, up ~21% at the midpoint.
- Adjusted EBITDA guidance was increased to $630-$660 million, representing a ~27% year-over-year increase at the midpoint.
- SPX acquired Neptronic to expand its HVAC portfolio and is increasing manufacturing capacity for data center demand.
The big picture
SPX Technologies' strong Q2 performance highlights robust demand in HVAC and data center markets, driven by both organic growth and strategic acquisitions. The company's raised guidance reflects confidence in sustained momentum, particularly in high-growth segments like cooling equipment and aids to navigation technologies.
What we're watching
- Data Center Demand
- The pace at which SPX can scale its data center revenue capacity to $1.1 billion once at full production.
- Integration Success
- Whether the Neptronic acquisition will deliver meaningful contributions and synergies as anticipated.
- Operational Efficiency
- How SPX manages start-up costs and inefficiencies associated with its capacity expansion initiatives.