SPX Corporation (SPXC) Releases Earnings Results, Beats Expectations By $0.02 EPS

SPX Corporation (SPXC) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.07. The company posted revenue of $389.30 million in the period, compared to analysts expectations of $358.67 million. The company’s revenue was up 3.5% compared to the same quarter last year.

Many Wall Street Analysts have commented on SPX Corporation. Company shares were Upgraded by Credit Suisse on Mar 28, 2016 to ” Outperform”, Firm has raised the Price Target to $ 17 from a previous price target of $13 .

SPX Corporation is a supplier of engineered solutions. The Company’s products include processing systems and components for the food and beverage industry pumps valves and filtration equipment used in oil and gas processing power transformers used by utility companies and cooling systems for power generation plants and heating ventilation and air conditioning (HVAC) applications. The Company has operations in over 20 countries. It is a supplier of medium power transformers for the United States power transmission and distribution market. Its medium power transformers range from a base rating of 10 mega volt ampere (MVA) to over 100 MVA. The Company provides thermal heat transfer products for power generation plants. Its power generation offerings include cooling systems scale stationary and rotating heat exchangers and pollution control systems.

SPX Corporation

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