The following is a summary of the SPX Technologies, Inc (SPXC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• SPX Technologies reported a strong Q3 2024, with revenue growth of 7.8% and adjusted EPS growth of 31% to $1.39.

• Adjusted EBITDA increased approximately 27% year-on-year with margin expansion of 320 basis points.

• Both segments, especially HVAC, showed significant revenue and margin improvement, with HVAC segment revenue growing by 15.9% and segment margin increasing 370 basis points.

Business Progress:

• SPX Technologies emphasized their ongoing value creation efforts, including significant progress in sustainability and continuous improvements in operating efficiency.

• The company highlighted advances in its HVAC cooling segment driven by organic growth and strategic acquisitions such as Ingenia.

• They noted a robust acquisition pipeline that could further enhance their platform capabilities across their business segments.

Opportunities:

• SPX Technologies is exploring substantial opportunities for growth through strategic acquisitions complementing their existing business lines, particularly in the HVAC and D&M segments.

• The company is seeing strong demand across several key end markets like data centers, healthcare, and institutional, indicating sustained sales prospects.

Risks:

• There was a mention of potential delays in reshoring projects, specifically in the electric vehicle sector, which could affect short-term growth expectations.

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