SPX Technologies, Inc.

SPXC 10-Q · Q1 2026

SPXC Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue 566.8 482.6 +17.4%
Show Product Lines breakouts
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
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
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
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
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
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
Cost of products sold · Operating Segments 0.2 0.2 0.0%
Operating Income 87.7 66.6 +31.7%
Show Business Segments breakouts
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
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
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
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
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
Crawford United 13.1
Thermolec Ltd 7.4
Operating Expenses (Q)
Show Consolidation Items breakouts
Corporate Non Segment 14.5 14 +3.6%
Other Comprehensive Income -6.3 9.8 -164.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -0.2 -0.6 +66.7%
Accumulated Translation Adjustment -6.1 11.2 -154.5%

Balance Sheet

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
Cost of products sold 366.2
Revenues 879.2
Show Business Acquisition breakouts
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
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
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
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

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
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
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
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
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.

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