SPX Technologies (SPXC) investor relations material

Executive summary

• Q2 2025 revenue grew 10.2% year-over-year to $552.4 million, with adjusted EPS up 16% to $1.65 and adjusted EBITDA up 16% to $127M, driven by strong profit growth in both HVAC and Detection & Measurement segments and successful acquisitions.

• Full-year 2025 guidance was raised, with adjusted EBITDA growth projected at 18% at midpoint and adjusted EPS guidance of $6.35–$6.65, reflecting robust demand and operational execution.

• Acquisitions of KTS, Sigma & Omega, and Ingénia expanded capabilities and contributed significantly to segment growth and margin performance.

• Data center market exposure is increasing, supported by new product launches like Olympus VMAX and capacity expansions.

• Backlog increased significantly in both segments, supporting future revenue growth and a positive outlook.

Financial highlights

• Q2 2025 revenue reached $552.4M, up 10.2% year-over-year, with adjusted EPS at $1.65 and adjusted EBITDA margin at 22.9%.

• Consolidated segment income rose 15.5% to $136M, with margin up 110 basis points to 24.6%.

• Adjusted free cash flow for Q2 was $37.1M, with a 48% conversion rate.

• Operating income for Q2 2025 was $86.6M, up 16.1% year-over-year.

• Net income for Q2 2025 was $52.2M, up from $44.2M in the prior year quarter.

Outlook and guidance

• Full-year 2025 revenue guidance raised to $2.225–$2.275B, with adjusted EBITDA guidance of $485–$510M and adjusted EPS guidance of $6.35–$6.65, all reflecting double-digit growth.

• HVAC segment income margin guidance increased to 24.25%–24.75%; Detection & Measurement to 21.75%–23.00%.

• Q3 adjusted EPS expected to be flat sequentially; second half cadence similar to prior year.

• Management expects continued growth supported by strong backlog and recent acquisitions.

• No material impact anticipated from new U.S. tax legislation or tariffs in 2025.