SPXC · SPX Technologies, Inc.

SPX Technologies delivered a robust Q1 2026 performance, with revenue surging 17.4% to $566.8 million, including 7.4% organic growth, driven by strong demand in cooling products for data centers and heating volumes, alongside contributions from acquisitions like Sigma & Omega, Thermolec, Crawford United, and KTS. GAAP income from continuing operations rose 24.6% to $64.4 million, with Adjusted EBITDA climbing 22.9% to $126.1 million and margin expanding 90bps to 22.2%, reflecting operational leverage despite capacity expansion costs. HVAC segment revenue grew 22.0% to $394.0 million on 9.6% organic and 11.5% inorganic growth, though margins dipped 40bps to 22.5% due to start-up inefficiencies offset by fixed cost leverage. Detection & Measurement revenue increased 8.3% to $172.8 million, with margins expanding 410bps to 27.0% from favorable mix including higher-margin SaaS revenue. Management raised full-year guidance, lifting revenue midpoint ~15% year-over-year to $2.610 billion, Adjusted EBITDA ~21% to $612.5 million (23.5% margin), and Adjusted EPS ~18% to $7.95, signaling confidence in sustained demand, acquisition pipeline, and navigation of tariff risks. CEO Gene Lowe highlighted strong end-market demand, capacity investments for data centers, and operational momentum positioning SPX for long-term growth.