SPX Technologies Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), SPX Technologies Inc reported revenue of $2.3B (+14.2% year on year) and net income of $244.0M (+21.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues | $2.3B | $2.0B | $1.7B | $1.5B |
| Cost of products sold | $1.3B | $1.2B | $1.1B | $937.0M |
| Selling, general and administrative | $477.6M | $414.6M | $394.4M | $355.7M |
| Selling, general and administrative — intangible amortization | $87.4M | — | — | — |
| Special charges, net | $1.1M | $3.6M | $800.0K | $400.0K |
| Impairment of intangible assets | $700.0K | $0 | $0 | $13.4M |
| Other operating expense | $500.0K | $8.4M | $9.0M | $74.9M |
| Operating income | $350.4M | $308.3M | $221.9M | $51.0M |
| Other income (expense), net | $8.5M | ($9.3M) | ($10.1M) | ($15.2M) |
| Interest expense | ($48.1M) | ($45.7M) | ($27.2M) | ($9.3M) |
| Interest income | $4.8M | $2.1M | $1.7M | $1.7M |
| Loss on amendment/refinancing of senior credit agreement | ($1.5M) | $0 | $0 | ($1.1M) |
| Income from continuing operations before income taxes | $314.1M | $255.4M | $186.3M | $27.1M |
| Income tax provision | ($68.6M) | ($53.6M) | ($41.6M) | ($7.3M) |
| Income from continuing operations | $245.5M | $201.8M | $144.7M | $19.8M |
| Income (loss) from discontinued operations, net of tax | $0 | $0 | $0 | $0 |
| Loss on disposition of discontinued operations, net of tax | ($1.5M) | ($1.3M) | ($54.8M) | ($19.6M) |
| Loss from discontinued operations, net of tax | ($1.5M) | ($1.3M) | ($54.8M) | ($19.6M) |
| Net income | $244.0M | $200.5M | $89.9M | $200.0K |
| Income from continuing operations (in dollars per share) | $5.13 | $4.37 | $3.18 | $0.44 |
| Net income per share (in dollars per share) | $5.10 | $4.34 | $1.97 | $0.00 |
| Weighted-average number of common shares outstanding — basic (in shares) | 47.8M | 46.2M | 45.5M | 45.3M |
| Income from continuing operations (in dollars per share) | $5.06 | $4.29 | $3.10 | $0.43 |
| Loss from discontinued operations (in dollars per share) | -$0.03 | -$0.03 | -$1.21 | -$0.44 |
| Net income per share (in dollars per share) | $5.03 | $4.26 | $1.93 | $0.00 |
| Weighted-average number of common shares outstanding — diluted (in shares) | 48.5M | 47.1M | 46.6M | 46.2M |
| Line item | Jun 27, 2026 · Q2 | Mar 28, 2026 · Q1 | Sep 27, 2025 · Q3 | Jun 28, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $679.0M | $566.8M | $592.8M | $552.4M |
| Cost of products sold | $406.2M | $336.2M | $353.3M | $323.5M |
| Selling, general and administrative | $129.9M | $119.4M | $117.7M | $117.2M |
| Selling, general and administrative — intangible amortization | $26.3M | $23.3M | — | — |
| Special charges, net | $1.6M | $200.0K | $100.0K | $0 |
| Other operating expense, net | $0 | — | $0 | $500.0K |
| Operating income | $115.0M | $87.7M | $97.1M | $86.6M |
| Other income (expense), net | ($5.1M) | ($3.0M) | ($3.2M) | ($2.1M) |
| Interest expense | ($8.8M) | ($8.4M) | ($12.0M) | ($15.6M) |
| Interest income | $1.1M | $1.1M | $1.1M | $1.0M |
| Income from continuing operations before income taxes | $102.2M | $77.4M | $81.5M | $69.9M |
| Income tax provision | ($22.9M) | ($13.0M) | ($18.4M) | ($17.4M) |
| Income from continuing operations | $79.3M | $64.4M | $63.1M | $52.5M |
| Income from discontinued operations, net of tax | $0 | $1.6M | $0 | $0 |
| Loss on disposition of discontinued operations, net of tax | ($900.0K) | ($6.1M) | ($400.0K) | ($300.0K) |
| Loss from discontinued operations, net of tax | ($900.0K) | ($4.5M) | ($400.0K) | ($300.0K) |
| Net income | $78.4M | $59.9M | $62.7M | $52.2M |
| Income from continuing operations (in dollars per share) | $1.58 | $1.29 | $1.31 | $1.12 |
| Loss from discontinued operations (in dollars per share) | -$0.01 | -$0.09 | -$0.01 | $0.00 |
| Net income per share (in dollars per share) | $1.57 | $1.20 | $1.30 | $1.12 |
| Weighted-average number of common shares outstanding — basic (in shares) | 50.1M | 49.9M | 48.2M | 46.7M |
| Income from continuing operations (in dollars per share) | $1.56 | $1.27 | $1.29 | $1.10 |
| Loss from discontinued operations, net of tax (in dollars per share) | -$0.01 | -$0.08 | -$0.01 | $0.00 |
| Net income per share (in dollars per share) | $1.55 | $1.19 | $1.28 | $1.10 |
| Weighted-average number of common shares outstanding — diluted (in shares) | 50.7M | 50.5M | 48.9M | 47.4M |
| Comprehensive income | $56.2M | $53.6M | $56.1M | $82.6M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and equivalents | $364.0M | $156.9M | $99.4M | $147.8M |
| Accounts receivable, net | $357.2M | $313.6M | $279.8M | $263.5M |
| Contract assets | $65.0M | $11.3M | $16.6M | $23.9M |
| Inventories, net | $302.2M | $271.0M | $276.7M | $244.0M |
| Other current assets | $55.3M | $31.5M | $37.1M | $41.9M |
| Total current assets | $1.1B | $784.3M | $709.6M | $721.1M |
| Land | $26.9M | $23.5M | $17.9M | $13.9M |
| Buildings and leasehold improvements | $167.9M | $113.3M | $73.4M | $63.7M |
| Machinery and equipment | $338.1M | $308.1M | $264.4M | $233.4M |
| Property, plant and equipment, gross | $532.9M | $444.9M | $355.7M | $311.0M |
| Accumulated depreciation | ($242.1M) | ($226.9M) | ($215.2M) | ($201.1M) |
| Property, plant and equipment, net | $290.8M | $218.0M | $140.5M | $109.9M |
| Goodwill | $1.0B | $834.5M | $704.8M | $455.3M |
| Intangibles, net | $868.2M | $703.0M | $680.8M | $401.6M |
| Other assets | $250.2M | $164.1M | $188.9M | $197.4M |
| Deferred income taxes | $2.2M | $2.4M | $4.0M | $2.7M |
| Assets of DBT and Heat Transfer (includes cash and equivalents of $2.0 and $4.5 at December 31, 2025 and 2024, respectively) (Note 4) | $6.1M | $8.2M | $11.1M | $42.9M |
| TOTAL ASSETS | $3.6B | $2.7B | $2.4B | $1.9B |
| Accounts payable | $145.2M | $128.1M | $118.7M | $124.5M |
| Contract liabilities | $115.8M | $62.3M | $73.5M | $52.8M |
| Accrued expenses | $185.2M | $170.8M | $168.5M | $148.0M |
| Income taxes payable | $10.0M | $19.4M | $5.3M | $4.7M |
| Short-term debt | $1.4M | $10.1M | $17.9M | $1.8M |
| Current maturities of long-term debt | $3.5M | $27.6M | $17.3M | $2.0M |
| Total current liabilities | $461.1M | $418.3M | $401.2M | $333.8M |
| Long-term debt | $496.7M | $577.0M | $523.1M | $243.0M |
| Deferred and other income taxes | $149.7M | $97.8M | $77.0M | $34.8M |
| Other long-term liabilities | $245.5M | $224.2M | $204.1M | $208.3M |
| Liabilities of DBT and Heat Transfer (Note 4) | $14.1M | $12.8M | $39.7M | $31.8M |
| Total long-term liabilities | $906.0M | $911.8M | $843.9M | $517.9M |
| Common stock (57,570,062 and 49,866,896 issued and outstanding at December 31, 2025, respectively, and 54,196,620 and 46,368,240 issued and outstanding at December 31, 2024, respectively) | $600.0K | $500.0K | $500.0K | $500.0K |
| Paid-in capital | $1.9B | $1.4B | $1.4B | $1.3B |
| Retained earnings | $482.8M | $238.8M | $38.3M | ($51.6M) |
| Accumulated other comprehensive income | $260.5M | $223.6M | $261.1M | $257.5M |
| Common stock in treasury (7,703,166 and 7,828,380 shares at December 31, 2025 and 2024, respectively) | -444.6M | -452.0M | -458.9M | — |
| Total stockholders' equity | $2.2B | $1.4B | $1.2B | $1.1B |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $3.6B | $2.7B | $2.4B | $1.9B |
| Line item | Jun 27, 2026 | Mar 28, 2026 | Sep 27, 2025 | Jun 28, 2025 |
|---|---|---|---|---|
| Cash and equivalents | $166.4M | $156.5M | $229.4M | $132.8M |
| Accounts receivable, net | $442.4M | $391.5M | $386.0M | $363.8M |
| Contract assets | $78.1M | $78.9M | $70.3M | $42.0M |
| Inventories, net | $374.0M | $342.4M | $331.3M | $321.9M |
| Other current assets | $41.5M | $43.7M | $47.4M | $60.1M |
| Total current assets | $1.1B | $1.0B | $1.1B | $920.6M |
| Land | $26.8M | $27.0M | $23.6M | $23.2M |
| Buildings and leasehold improvements | $174.4M | $169.0M | $118.7M | $116.9M |
| Machinery and equipment | $378.1M | $359.8M | $329.2M | $325.1M |
| Property, plant and equipment, gross | $579.3M | $555.8M | $471.5M | $465.2M |
| Accumulated depreciation | ($254.5M) | ($248.6M) | ($244.1M) | ($238.3M) |
| Property, plant and equipment, net | $324.8M | $307.2M | $227.4M | $226.9M |
| Goodwill | $1.2B | $1.2B | $1.0B | $1.0B |
| Intangibles, net | $1.0B | $1.1B | $888.3M | $914.7M |
| Other assets | $254.1M | $254.9M | $221.0M | $193.2M |
| Deferred income taxes | $2.6M | $2.1M | $2.5M | $2.5M |
| Assets of DBT and Heat Transfer (includes cash and equivalents of $1.8 and $2.0 at June 27, 2026 and December 31, 2025, respectively) (Note 3) | $5.8M | $5.8M | $6.0M | $7.9M |
| TOTAL ASSETS | $3.9B | $3.9B | $3.4B | $3.3B |
| Accounts payable | $194.6M | $164.6M | $157.6M | $140.3M |
| Contract liabilities | $128.2M | $115.1M | $85.1M | $76.5M |
| Accrued expenses | $183.4M | $159.8M | $174.0M | $166.2M |
| Income taxes payable | $13.7M | $11.4M | $12.4M | $16.0M |
| Short-term debt | $74.3M | $23.6M | $1.4M | $41.4M |
| Current maturities of long-term debt | $9.9M | $6.7M | $400.0K | $27.6M |
| Total current liabilities | $604.1M | $481.2M | $430.9M | $468.0M |
| Long-term debt | $530.5M | $643.7M | $499.8M | $950.3M |
| Deferred and other income taxes | $198.4M | $203.1M | $134.1M | $118.7M |
| Other long-term liabilities | $243.7M | $252.2M | $218.9M | $223.0M |
| Liabilities of DBT and Heat Transfer (Note 3) | $14.2M | $13.9M | $13.6M | $13.4M |
| Total long-term liabilities | $986.8M | $1.1B | $866.4M | $1.3B |
| Common stock (57,688,145 and 50,080,345 issued and outstanding at June 27, 2026, respectively, and 57,570,062 and 49,866,896 issued and outstanding at December 31, 2025, respectively) | $600.0K | $600.0K | $600.0K | $600.0K |
| Paid-in capital | $1.9B | $1.9B | $1.9B | $1.4B |
| Retained earnings | $621.1M | $542.7M | $404.9M | $342.2M |
| Accumulated other comprehensive income | $232.0M | $254.2M | $257.2M | $263.8M |
| Common stock in treasury (7,607,800 and 7,703,166 shares at June 27, 2026 and December 31, 2025, respectively) | -439.1M | -439.4M | -444.8M | -444.9M |
| Total stockholders' equity | $2.3B | $2.3B | $2.1B | $1.5B |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $3.9B | $3.9B | $3.4B | $3.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $244.0M | $200.5M | $89.9M | $200.0K |
| Less: Loss from discontinued operations, net of tax | ($1.5M) | ($1.3M) | ($54.8M) | ($19.6M) |
| Income from continuing operations | $245.5M | $201.8M | $144.7M | $19.8M |
| Special charges, net | $1.1M | $3.6M | $800.0K | $400.0K |
| (Gain) loss on change in value of equity security | ($23.0M) | — | — | — |
| Loss on amendment/refinancing of senior credit agreement | $1.5M | $0 | $0 | $1.1M |
| Amortization of compensation expense related to acquisition (Refer to Note 4) | $24.2M | — | — | — |
| Impairment of intangible assets | $700.0K | — | — | — |
| Deferred and other income taxes | $26.1M | ($15.1M) | ($25.2M) | ($21.4M) |
| Depreciation and amortization | $122.6M | $91.6M | $63.2M | $46.4M |
| Pension and other employee benefits | $19.9M | $15.4M | $22.0M | $3.4M |
| Long-term incentive compensation | $16.7M | $15.0M | $13.4M | $10.9M |
| Other, net, including allowance for doubtful accounts | $2.9M | ($8.7M) | ($5.9M) | $500.0K |
| Accounts receivable and other assets | ($81.8M) | $2.1M | $30.6M | ($300.0K) |
| Contribution related to employee retention agreements from acquisition (Refer to Note 4) | ($46.5M) | — | — | — |
| Inventories | $2.8M | $9.1M | ($3.1M) | ($53.4M) |
| Accounts payable, accrued expenses and other | $24.7M | ($4.3M) | $7.0M | ($73.7M) |
| Cash spending on restructuring actions | ($1.8M) | ($1.6M) | ($100.0K) | ($400.0K) |
| Net cash from continuing operations | $335.6M | $313.1M | $243.8M | ($115.2M) |
| Net cash used in discontinued operations | ($2.3M) | ($27.2M) | ($35.3M) | ($21.6M) |
| Net cash from operating activities | $333.3M | $285.9M | $208.5M | ($136.8M) |
| Proceeds/borrowings (repayments) related to company-owned life insurance policies, net | ($23.9M) | $41.9M | $700.0K | $3.7M |
| Proceeds from asset sales and other | $0 | $3.6M | — | — |
| Business acquisitions, net of cash acquired | ($445.0M) | ($292.0M) | ($547.0M) | ($40.0M) |
| Capital expenditures | ($92.1M) | ($38.0M) | ($23.9M) | ($15.9M) |
| Net cash used in continuing operations | ($561.0M) | ($284.5M) | ($570.2M) | ($52.2M) |
| Net cash used in discontinued operations | $0 | $0 | $0 | ($13.9M) |
| Net cash used in investing activities | ($561.0M) | ($284.5M) | ($570.2M) | ($66.1M) |
| Borrowings under senior credit facilities | $978.0M | $384.8M | $869.1M | $245.0M |
| Repayments under senior credit facilities | ($1.1B) | ($321.8M) | ($572.5M) | ($243.7M) |
| Borrowings under trade receivables agreement | $280.0M | $272.0M | $178.0M | $0 |
| Repayments under trade receivables agreement | ($289.0M) | ($279.0M) | ($162.0M) | $0 |
| Net borrowings (repayments) under other financing arrangements | $100.0K | ($1.2M) | ($400.0K) | ($800.0K) |
| Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other | ($7.4M) | $900.0K | ($1.3M) | ($3.5M) |
| Proceeds of issuance of common stock in underwritten public offering, net of offering costs of $23.9 | $551.1M | — | — | — |
| Financing fees paid | ($4.7M) | ($2.6M) | ($1.3M) | ($1.9M) |
| Net cash from continuing operations | $425.5M | $53.1M | $309.6M | ($39.9M) |
| Net cash from (used in) discontinued operations | $0 | $0 | $0 | $1.0M |
| Net cash from financing activities | $425.5M | $53.1M | $309.6M | ($38.9M) |
| Change in cash and equivalents due to changes in foreign currency exchange rates | $6.8M | $2.0M | ($100.0K) | $2.9M |
| Net change in cash and equivalents | $204.6M | $56.5M | ($52.2M) | ($238.9M) |
| Consolidated cash and equivalents, beginning of period | $161.4M | $104.9M | $157.1M | $396.0M |
| Consolidated cash and equivalents, end of period | $366.0M | $161.4M | $104.9M | $157.1M |
| Interest paid | $41.7M | $43.4M | $25.6M | $6.5M |
| Income tax payments, net | $57.3M | $43.5M | ($58.4M) | ($59.6M) |
| Line item | Jun 27, 2026 · YTD | Mar 28, 2026 · Q1 | Sep 27, 2025 · YTD | Jun 28, 2025 · YTD |
|---|---|---|---|---|
| Net income | $138.3M | $59.9M | $166.1M | $103.4M |
| Less: Loss from discontinued operations, net of tax | ($5.4M) | ($4.5M) | ($1.2M) | ($800.0K) |
| Income from continuing operations | $143.7M | $64.4M | $167.3M | $104.2M |
| Special charges, net | $1.8M | $200.0K | $200.0K | $100.0K |
| Gain on change in value of equity security | $0 | $0 | — | — |
| Amortization of compensation expense related to acquisition (Refer to Note 3) | $6.3M | $3.6M | $17.4M | $10.9M |
| Deferred and other income taxes | $0 | $2.6M | $14.8M | ($2.3M) |
| Depreciation and amortization | $67.8M | $32.1M | $91.9M | $59.5M |
| Pension and other employee benefits | $10.2M | $6.5M | $12.1M | $8.7M |
| Long-term incentive compensation | $8.0M | $3.7M | $11.8M | $7.6M |
| Other, net, including allowance for doubtful accounts | ($200.0K) | ($100.0K) | ($400.0K) | $100.0K |
| Accounts receivable and other assets | ($70.4M) | ($17.9M) | ($94.9M) | ($63.1M) |
| Contribution related to employee retention agreements from acquisition (Refer to Note 3) | $0 | $0 | ($46.5M) | ($46.5M) |
| Inventories | ($66.5M) | ($35.3M) | ($26.1M) | ($16.2M) |
| Accounts payable, accrued expenses and other | $19.9M | ($29.7M) | ($3.2M) | ($24.6M) |
| Cash spending on restructuring actions | ($400.0K) | ($300.0K) | ($1.6M) | ($900.0K) |
| Net cash from continuing operations | $120.2M | $29.8M | $139.8M | $33.0M |
| Net cash used in discontinued operations | $0 | $800.0K | ($1.7M) | ($1.4M) |
| Net cash from operating activities | $120.2M | $30.6M | $138.1M | $31.6M |
| Proceeds related to company-owned life insurance policies, net | $3.3M | $3.1M | — | $3.1M |
| Business acquisitions, net of cash acquired | ($439.6M) | ($439.6M) | ($445.3M) | ($447.7M) |
| Capital expenditures | ($39.6M) | ($18.5M) | ($23.6M) | ($13.2M) |
| Net cash used in continuing operations | ($475.9M) | ($455.0M) | ($499.2M) | ($457.8M) |
| Net cash from discontinued operations | $59.2M | $59.2M | $0 | $0 |
| Net cash used in investing activities | ($416.7M) | ($395.8M) | ($499.2M) | ($457.8M) |
| Borrowings under senior credit facilities | $214.9M | $189.5M | $978.0M | $478.0M |
| Repayments under senior credit facilities | ($174.9M) | ($39.5M) | ($1.1B) | ($104.8M) |
| Borrowings under trade receivables arrangement | $282.0M | $111.0M | $280.0M | $179.0M |
| Repayments under trade receivables arrangement | ($209.0M) | ($89.0M) | ($289.0M) | ($148.0M) |
| Net borrowings (repayments) under other financing arrangements | ($100.0K) | $200.0K | $100.0K | $200.0K |
| Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options | ($14.6M) | ($14.6M) | ($8.3M) | ($9.1M) |
| Net cash from continuing operations | $98.3M | $157.6M | $424.6M | $395.3M |
| Net cash from (used in) discontinued operations | $0 | $0 | $0 | $0 |
| Net cash from financing activities | $98.3M | $157.6M | $424.6M | $395.3M |
| Change in cash and equivalents due to changes in foreign currency exchange rates | $400.0K | ($100.0K) | $6.5M | $6.4M |
| Net change in cash and equivalents | ($197.8M) | ($207.7M) | $70.0M | ($24.5M) |
| Consolidated cash and equivalents, beginning of period | $366.0M | $366.0M | $161.4M | $161.4M |
| Consolidated cash and equivalents, end of period | $168.2M | $158.3M | $231.4M | $136.9M |
SPX Technologies Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.