SPX Technologies Files Q3 2024 10-Q
Ticker: SPXC · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 88205
| Field | Detail |
|---|---|
| Company | Spx Technologies, Inc. (SPXC) |
| Form Type | 10-Q |
| Filed Date | Oct 31, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: SPXC
TL;DR
SPX Tech's Q3 2024 10-Q is in. Check financials.
AI Summary
SPX Technologies, Inc. filed its 10-Q for the period ending September 28, 2024. The filing covers financial performance and operational details for the third quarter of fiscal year 2024. Key financial data and disclosures relevant to investors are included.
Why It Matters
This filing provides investors with the latest financial performance data for SPX Technologies, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- SPX Technologies, Inc. (company) — Filer of the 10-Q
- 20240928 (date) — End of the reporting period
- 20241031 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the period ending September 28, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 31, 2024.
What is the fiscal year end for SPX Technologies, Inc.?
The fiscal year end for SPX Technologies, Inc. is December 31.
What is the Standard Industrial Classification code for SPX Technologies, Inc.?
The Standard Industrial Classification code for SPX Technologies, Inc. is 3540, which corresponds to METALWORKING MACHINERY & EQUIPMENT.
What was the previous name of SPX Technologies, Inc.?
SPX Technologies, Inc. was formerly known as SPX CORP, with a name change date of July 3, 1992, and prior to that, SEALED POWER CORP, with a name change date of May 15, 1988.
Filing Stats: 4,797 words · 19 min read · ~16 pages · Grade level 7.8 · Accepted 2024-10-30 17:46:23
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 SPXC New York Stock Exchange Indicate
Filing Documents
- spxc-20240928.htm (10-Q) — 1624KB
- exhibit311q32024.htm (EX-31.1) — 12KB
- exhibit312q32024.htm (EX-31.2) — 8KB
- exhibit321q32024.htm (EX-32.1) — 6KB
- 0000088205-24-000059.txt ( ) — 10164KB
- spxc-20240928.xsd (EX-101.SCH) — 59KB
- spxc-20240928_cal.xml (EX-101.CAL) — 103KB
- spxc-20240928_def.xml (EX-101.DEF) — 364KB
- spxc-20240928_lab.xml (EX-101.LAB) — 783KB
- spxc-20240928_pre.xml (EX-101.PRE) — 609KB
- spxc-20240928_htm.xml (XML) — 1797KB
– Financial Statements
Item 1 – Financial Statements Condensed Consolidated Statements of Operations and Comprehensive Income ( Loss) 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7
– Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 31
– Quantitative and Qualitative Disclosures About Market Risk
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 43
– Controls and Procedures
Item 4 – Controls and Procedures 43 PART 2 – OTHER INFORMATION
– Legal Proceedings
Item 1 – Legal Proceedings 44
– Risk Factors
Item 1A – Risk Factors 44
– Other Information
Item 5 – Other Information 44
– Exhibits
Item 6 – Exhibits 44
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
ITEM 1. Financial Statements SPX TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited; in millions, except per share amounts) Three months ended Nine months ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Revenues $ 483.7 $ 448.7 $ 1,450.2 $ 1,271.8 Costs and expenses: Cost of products sold 286.1 280.1 868.9 789.7 Selling, general and administrative 101.6 96.3 305.7 290.9 Intangible amortization 16.6 14.6 48.2 32.4 Special charges, net 0.5 — 0.9 — Other operating expense, net — — 8.4 — Operating income 78.9 57.7 218.1 158.8 Other income (expense), net ( 1.4 ) ( 0.2 ) ( 7.1 ) 2.3 Interest expense ( 12.1 ) ( 10.2 ) ( 34.7 ) ( 18.0 ) Interest income 0.6 0.8 1.2 1.5 Income from continuing operations before income taxes 66.0 48.1 177.5 144.6 Income tax provision ( 15.1 ) ( 12.4 ) ( 32.2 ) ( 31.5 ) Income from continuing operations 50.9 35.7 145.3 113.1 Income (loss) from discontinued operations, net of tax — — — — Loss on disposition of discontinued operations, net of tax ( 0.7 ) ( 56.1 ) ( 1.9 ) ( 54.7 ) Loss from discontinued operations, net of tax ( 0.7 ) ( 56.1 ) ( 1.9 ) ( 54.7 ) Net income (loss) $ 50.2 $ ( 20.4 ) $ 143.4 $ 58.4 Basic income (loss) per share of common stock: Income from continuing operations $ 1.10 $ 0.78 $ 3.15 $ 2.49 Loss from discontinued operations, net of tax ( 0.02 ) ( 1.23 ) ( 0.04 ) ( 1.21 ) Net income (loss) per share $ 1.08 $ ( 0.45 ) $ 3.11 $ 1.28 Weighted-average number of common shares outstanding — basic 46.305 45.608 46.127 45.507 Diluted income (loss) per share of common stock: Income from continuing operations $ 1.08 $ 0.76 $ 3.09 $ 2.43 Loss from discontinued operations, net of tax ( 0.02 ) ( 1.20 ) ( 0.04 ) ( 1.18 ) Net income (loss) per share $ 1.06 $ ( 0.44 ) $ 3.05 $ 1.25 Weighted-average number of common shares outstanding — diluted 47.265 46.751 47.003 46.560 Comprehensive in