SPX Technologies, Inc. reported significant financial growth in its latest quarterly results, with revenues reaching $592.8 million for the three months ended September 27, 2025, a 22.6% increase from $483.7 million in the same period last year. For the nine months, revenues totaled $1.63 billion, up 12.2% from $1.45 billion in the prior year. The company attributed this growth to both organic revenue increases in its HVAC and Detection and Measurement segments, as well as contributions from recent acquisitions, including Sigma & Omega and Kranze Technology Solutions (KTS).
Operating income for the third quarter was $97.1 million, compared to $78.9 million in the previous year, reflecting a 23.0% increase. For the nine-month period, operating income rose to $250.3 million from $218.1 million. Net income for the third quarter was $62.7 million, or $1.30 per share, compared to $50.2 million, or $1.08 per share, in the prior year. The nine-month net income also increased to $166.1 million, or $3.53 per share, from $143.4 million, or $3.11 per share, in the same period last year.
SPX Technologies has made several strategic acquisitions to bolster its market position. The company completed the acquisition of KTS on January 27, 2025, for $340 million, which specializes in digital interoperability solutions for the defense sector. Additionally, the acquisition of Sigma & Omega, which focuses on engineered heating and cooling equipment, was finalized on April 15, 2025, for $143.6 million. These acquisitions are expected to enhance SPX's capabilities and expand its product offerings in the HVAC and Detection and Measurement segments.
Operationally, SPX Technologies has seen an increase in customer engagement, with a backlog of $578.5 million in the HVAC segment and $366.1 million in the Detection and Measurement segment as of September 27, 2025. The company reported a total employee headcount of 2,500, reflecting growth in staffing to support its expanding operations. The company also noted a significant increase in contract assets, which rose to $70.3 million from $11.3 million, indicating a strong pipeline of future revenue.
Looking ahead, SPX Technologies remains optimistic about its growth trajectory, driven by ongoing demand in its core markets and the successful integration of its recent acquisitions. The company anticipates continued revenue growth and improved profitability as it leverages its expanded capabilities and market presence. However, it also acknowledges potential risks, including market volatility and supply chain challenges, which could impact future performance.
About SPX Technologies, Inc.
SPX Technologies, Inc. is a global provider of infrastructure equipment serving the HVAC and detection and measurement markets. It offers engineered products including cooling systems, air movement solutions, and navigation aids, primarily to industrial, commercial, and utility customers worldwide. The company focuses on innovation, strategic acquisitions, and operational efficiency to maintain competitive advantages in diverse, cyclical markets.
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