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SPX Technologies (SPXC) to Post Q2 Earnings: What's in Store?

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SPX Technologies, Inc. (SPXC - Free Report) is set to report its second-quarter 2023 earnings on Aug 2, 2023, before the bell.

The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the past four quarters, delivering an earnings surprise of 28.38%, on average.

SPX Technologies, Inc. Price and EPS Surprise SPX Technologies, Inc. Price and EPS Surprise

SPX Technologies, Inc. price-eps-surprise | SPX Technologies, Inc. Quote

Expectations This Time Around

The consensus estimate for SPX Technologies’ revenues in the to-be-reported quarter is pegged at $390.7 million, indicating 10.4% growth from the year-ago quarter’s reported figure. The top line is likely to have benefited from continued strength across HVAC, and Detection & Measurement segments.

Healthy sales in both cooling and heating products, due to increased volume and a more stable supply chain, are expected to have driven the HVAC segment in the quarter. The consensus mark for the segment’s revenues is pegged at $256 million, indicating 16.9% year-over-year growth.

The Detection & Measurement segment is likely to have benefited from higher project sales in Communication Technologies, Transportation and Aids to Navigation platforms. The consensus mark for the segment’s revenues stands at $141 million, indicating 4.4% year-over-year growth.

The consensus mark for SPXC's EPS in the to-be-reported quarter stands at 84 cents per share, indicating 18.3% year-over-year growth. The bottom line is expected to have benefited from increased revenues, operating strength and the TAMCO acquisition.

What Our Model Says

Our proven Zacks model predicts a likely earnings beat for SPX Technologies this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

SPX Technologies has an Earnings ESP of +1.59% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks That Warrant a Look

Here are a few other stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.

Aptiv (APTV - Free Report) currently has an Earnings ESP of +4.37% and a Zacks Rank of 3. The company is scheduled to release its second-quarter earnings on Aug 3.

The Zacks Consensus Estimate for the bottom line is pegged at $1.03 per share, up more than 100% from the year-ago figure. The consensus mark for revenues is pegged at $4.72 billion, up 16.5% from the figure reported a year ago. APTV had an average negative surprise of 8.1% in the previous four quarters.

SoFi Technologies (SOFI - Free Report) currently has an Earnings ESP of +2.37% and a Zacks Rank of 3. The company is slated to declare its second-quarter results on Jul 31.

The Zacks Consensus Estimate for the bottom line is pegged at a loss of 7 cents per share. In the previous-year quarter, the company reported a loss of 12 cents per share. The consensus mark for revenues is pegged at $474.6 million, up 30.9% from the prior-year reported figure. SOFI had an average surprise of 23% in the previous four quarters.

Trane Technologies (TT - Free Report) currently has an Earnings ESP of +1.20% and a Zacks Rank of 2. The company is scheduled to report its second-quarter results on Aug 2.

The Zacks Consensus Estimate for the bottom line is pegged at $2.55 per share, up 18.1% from the year-ago reported figure. The consensus mark for revenues is pegged at $4.62 billion, up 10.4% from the prior-year reported figure. TT had an average surprise of 6.7% in the previous four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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