SPX Technologies, Inc.
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SPXC Q1 2026 request
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Income Statement
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue | 566.8 | 482.6 | +17.4% |
Show Product Lines breakouts |
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| Communication technologies, aids to navigation, and transportation systems | 114.2 | 102.9 | +11.0% |
| Communication technologies, aids to navigation, and transportation systems · Cost of products sold | 114.2 | 102.9 | +11.0% |
| Hydronic heating, electrical heating, and ventilation | 158 | 123.9 | +27.5% |
| Hydronic heating, electrical heating, and ventilation · Revenues | 158 | 123.9 | +27.5% |
| Package and process cooling equipment and services, and engineered air movement and handling solutions | 236 | 199.1 | +18.5% |
| Package and process cooling equipment and services, and engineered air movement and handling solutions · Revenues | 236 | 199.1 | +18.5% |
| Underground locators, inspection and rehabilitation equipment, and robotic systems | 58.6 | 56.7 | +3.4% |
| Underground locators, inspection and rehabilitation equipment, and robotic systems · Cost of products sold | 58.6 | 56.7 | +3.4% |
Show Business Segments breakouts |
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| Cost of products sold · Operating Segments | 172.8 | 159.6 | +8.3% |
| Cost of products sold · Transferred At Point In Time | 139.9 | 141.5 | -1.1% |
| Cost of products sold · Transferred Over Time | 32.9 | 18.1 | +81.8% |
| Revenues · Operating Segments | 394 | 323 | +22.0% |
| Revenues · Transferred At Point In Time | 372.9 | 304.1 | +22.6% |
| Revenues · Transferred Over Time | 21.1 | 18.9 | +11.6% |
| Segment Reporting | 566.8 | 482.6 | +17.4% |
Show Geography breakouts |
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| CA | 62.4 | 30.2 | +106.6% |
| CN | 17 | 13 | +30.8% |
| GB | 21.3 | 17.4 | +22.4% |
| Other | 18.5 | 19 | -2.6% |
| US | 447.6 | 403 | +11.1% |
Show Timing Of Transfer Of Good Or Service breakouts |
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| Transferred At Point In Time | 512.8 | 445.6 | +15.1% |
| Transferred Over Time | 54 | 37 | +45.9% |
| Cost of Revenue | 336.2 | 286.7 | +17.3% |
Show Business Segments breakouts |
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| Cost of products sold · Operating Segments | 88.2 | 86.8 | +1.6% |
| Revenues · Operating Segments | 246.6 | 199.6 | +23.5% |
| Selling, General & Administrative | 119.4 | 109.5 | +9.0% |
Show Business Segments breakouts |
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| Cost of products sold · Operating Segments | 37.9 | 36.2 | +4.7% |
| Revenues · Operating Segments | 58.8 | 49.5 | +18.8% |
| Amortization Of Intangible Assets Selling General And Administrative | 23.3 | 19.7 | +18.3% |
| Special Charges Net | 0.2 | 0.1 | +100.0% |
Show Business Segments breakouts |
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| Cost of products sold · Operating Segments | 0.2 | 0.2 | 0.0% |
| Operating Income | 87.7 | 66.6 | +31.7% |
Show Business Segments breakouts |
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| Cost of products sold · Operating Segments | 46.7 | 36.6 | +27.6% |
| Revenues · Operating Segments | 88.6 | 73.9 | +19.9% |
| Segment Reporting | 135.3 | 110.5 | +22.4% |
| Other Non-Operating Income (Expense) | -3 | 2.7 | -211.1% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | 0.2 | 0.8 | -75.0% |
| Interest Expense | -8.4 | -12.3 | +31.7% |
| Interest Income | 1.1 | 0.9 | +22.2% |
| Income Before Taxes | 77.4 | 57.9 | +33.7% |
| Income Tax Expense (Benefit) | -13 | -6.2 | -109.7% |
| Income Loss From Continuing Operations | 64.4 | 51.7 | +24.6% |
| Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax | 1.6 | — | — |
| Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax | -6.1 | -0.5 | -1120.0% |
| Income Loss From Discontinued Operations Net Of Tax | -4.5 | -0.5 | -800.0% |
Show Disposal Group Classification breakouts |
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| Discontinued Operations Disposed Of By Sale · Non-Core Businesses | 1.6 | — | — |
| Segment Discontinued Operations · DBT | -0.4 | -0.5 | +20.0% |
| Net Income | 59.9 | 51.2 | +17.0% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | 0.2 | 0.6 | -66.7% |
| Retained Earnings | 59.9 | 51.2 | +17.0% |
Show Business Acquisition breakouts |
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| Crawford United | -0.4 | — | — |
| Thermolec Ltd | 0.7 | — | — |
| Income Loss From Continuing Operations Per Basic Share | 1.29 | 1.11 | +16.2% |
| Income Loss From Discontinued Operations Net Of Tax Per Basic Share | -0.09 | -0.01 | -800.0% |
| EPS (Basic) | 1.2 | 1.1 | +9.1% |
| Wtd Avg Shares (Basic) | 49.92 | 46.45 | +7.5% |
| Income Loss From Continuing Operations Per Diluted Share | 1.27 | 1.1 | +15.5% |
| Income Loss From Discontinued Operations Net Of Tax Per Diluted Share | -0.08 | -0.01 | -700.0% |
| EPS (Diluted) | 1.19 | 1.09 | +9.2% |
| Wtd Avg Shares (Diluted) | 50.52 | 47.12 | +7.2% |
| Comprehensive Income | 53.6 | 61 | -12.1% |
| Revenue (Q) | — | — | — |
Show Business Acquisition breakouts |
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| Crawford United | 13.1 | — | — |
| Thermolec Ltd | 7.4 | — | — |
| Operating Expenses (Q) | — | — | — |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 14.5 | 14 | +3.6% |
| Other Comprehensive Income | -6.3 | 9.8 | -164.3% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -0.2 | -0.6 | +66.7% |
| Accumulated Translation Adjustment | -6.1 | 11.2 | -154.5% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 156.5 | 177.8 | -12.0% |
| Accounts Receivable | 391.5 | 319.6 | +22.5% |
| Contract With Customer Asset Net Current | 78.9 | 37.5 | +110.4% |
| Inventory | 342.4 | 308.1 | +11.1% |
| Other Assets Current | 43.7 | 63.8 | -31.5% |
| Total Current Assets | 1,013 | 906.8 | +11.7% |
| Non-Current Assets | |||
| Goodwill | 1,245.4 | — | — |
Show Business Segments breakouts |
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| Cost of products sold | 366.2 | — | — |
| Revenues | 879.2 | — | — |
Show Business Acquisition breakouts |
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| Crawford United | 129.7 | — | — |
| Kranze Technology Solutions, Inc | 104.4 | — | — |
| Sigma & Omega | 76.6 | — | — |
| Thermolec Ltd | 75.6 | — | — |
| Other Non-Current Assets | 254.9 | 192.5 | +32.4% |
| Deferred Tax Assets | 2.1 | 2.6 | -19.2% |
| Total Assets | 3,879.5 | 3,137.5 | +23.6% |
| Intangible Assets | 829.7 | 633.6 | +31.0% |
Show Business Segments breakouts |
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| Cost of products sold | 227.8 | 261.8 | -13.0% |
| Revenues | 601.9 | 371.8 | +61.9% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer Relationships | 534.6 | 382.4 | +39.8% |
| Developed Technology Rights | 230 | 216.1 | +6.4% |
| Other Intangible Assets | 65.1 | 35.1 | +85.5% |
| Other Assets | |||
| Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization | 555.8 | 456.7 | +21.7% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization | -248.6 | -233.1 | -6.6% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization | 307.2 | 223.6 | +37.4% |
| Intangible Assets Net Excluding Goodwill | 1,051.1 | 853.9 | +23.1% |
| Assets Of Abandoned Entities | 5.8 | 8.1 | -28.4% |
| Current Liabilities | |||
| Accounts Payable | 164.6 | 149 | +10.5% |
| Deferred Revenue (Current) | 115.1 | 80 | +43.9% |
| Accrued Liabilities | 159.8 | 145.4 | +9.9% |
| Accrued Income Taxes Current | 11.4 | 20.2 | -43.6% |
| Short Term Borrowings | 23.6 | — | — |
| Current Portion of Long-Term Debt | 6.7 | — | — |
| Total Current Liabilities | 481.2 | 482.9 | -0.4% |
| Non-Current Liabilities | |||
| Deferred Income Taxes And Other Tax Liabilities Noncurrent | 203.1 | 98 | +107.2% |
| Other Non-Current Liabilities | 252.2 | 228 | +10.6% |
| Liabilities Noncurrent | 1,112.9 | 1,211.2 | -8.1% |
| Contract With Customer Liability Noncurrent | -8 | -4.5 | -77.8% |
| Other Liabilities | |||
| Long Term Debt And Capital Lease Obligations | 643.7 | — | — |
| Liabilities Of Abandoned Entities | 13.9 | 13.2 | +5.3% |
| Stockholders' Equity | |||
| Common Stock Value Outstanding | 0.6 | 0.5 | +20.0% |
| Additional Paid In Capital Common Stock | 1,927.3 | 1,364.8 | +41.2% |
| Retained Earnings | 542.7 | 290 | +87.1% |
| Accumulated Other Comprehensive Income | 254.2 | 233.4 | +8.9% |
| Treasury Stock Common Value | -439.4 | -445.3 | +1.3% |
| Total Stockholders' Equity | 2,285.4 | 1,443.4 | +58.3% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -0.3 | 1.5 | -120.0% |
| Accumulated Other Comprehensive Income | 254.2 | 233.4 | +8.9% |
| Accumulated Translation Adjustment | 254.5 | 230.1 | +10.6% |
| Additional Paid In Capital | 1,927.3 | 1,364.8 | +41.2% |
| Common Stock | 0.6 | 0.5 | +20.0% |
| Retained Earnings | 542.7 | 290 | +87.1% |
| Treasury Stock Common | -439.4 | -445.3 | +1.3% |
| Total Liabilities & Equity | 3,879.5 | 3,137.5 | +23.6% |
| Land | 27 | 23.5 | +14.9% |
| Buildings And Improvements Gross | 169 | 113.8 | +48.5% |
| Machinery And Equipment Gross | 359.8 | 319.4 | +12.6% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Annual Amount | 0 | -4.5 | +100.0% |
| Amortization Of Deferred Compensation Plan Asset | 3.6 | 4.3 | -16.3% |
Show Triggering Event [Axis] breakouts |
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| Retention Agreements · Kranze Technology Solutions, Inc | 3.6 | 4.3 | -16.3% |
| Deferred Income Taxes And Tax Credits | 2.6 | -0.5 | +620.0% |
| Depreciation & Amortization | 32.1 | 27 | +18.9% |
Show Business Segments breakouts |
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| Cost of products sold · Operating Segments | 9.6 | 9.5 | +1.1% |
| Revenues · Operating Segments | 21.9 | 16.9 | +29.6% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 0.6 | 0.6 | 0.0% |
| Operating Segments | 31.5 | 26.4 | +19.3% |
| Pension And Other Postretirement Benefit Expense | 6.5 | 5.5 | +18.2% |
| Stock-Based Compensation | 3.7 | 3.7 | 0.0% |
| Other Non-Cash Items | -0.1 | 0.2 | -150.0% |
| Increase Decrease In Accounts Receivable And Other Operating Assets | -17.9 | -26.3 | +31.9% |
| Change in Inventory | -35.3 | -13.8 | -155.8% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | -29.7 | -10.8 | -175.0% |
| Payments For Restructuring | -0.3 | -0.5 | +40.0% |
| Net Cash Provided By Used In Operating Activities Continuing Operations | 29.8 | -10.4 | +386.5% |
| Cash Provided By Used In Operating Activities Discontinued Operations | 0.8 | -0.5 | +260.0% |
| Net Cash from Operations | 30.6 | -10.9 | +380.7% |
| Investing Activities | |||
| Proceeds From Life Insurance Policies | 3.1 | 3 | +3.3% |
| Payments To Acquire Businesses Net Of Cash Acquired | -439.6 | -304.1 | -44.6% |
| Payments To Acquire Productive Assets | -18.5 | -5.5 | -236.4% |
| Net Cash Provided By Used In Investing Activities Continuing Operations | -455 | -306.6 | -48.4% |
| Cash Provided By Used In Investing Activities Discontinued Operations | 59.2 | — | — |
| Net Cash from Investing | -395.8 | -306.6 | -29.1% |
| Financing Activities | |||
| Borrowings Under Senior Credit Facilities | 189.5 | 393 | -51.8% |
| Repayments Under Senior Credit Facilities | -39.5 | -98 | +59.7% |
| Borrowing Under Trade Receivables Agreement | 111 | 135 | -17.8% |
| Repayments Under Trade Receivables Agreement | -89 | -85 | -4.7% |
| Proceeds From Payments For Other Financing Activities | 0.2 | 0.5 | -60.0% |
| Payment Proceeds Tax Withholding Share Based Payment Arrangement | -14.6 | -9.8 | -49.0% |
| Net Cash Provided By Used In Financing Activities Continuing Operations | 157.6 | 335.7 | -53.1% |
| Net Cash from Financing | 157.6 | 335.7 | -53.1% |
| Debt Repayments | -128.5 | — | — |
Show Debt Instrument breakouts |
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| Asset Backed Securities | -89 | — | — |
| Current Revolving SPX Facilities · Revolving Credit Facility | -39.5 | — | — |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | -0.1 | 2.6 | -103.8% |
| Net Change in Cash | -207.7 | 20.8 | -1098.6% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | 158.3 | 182.2 | -13.1% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.