Industrial conglomerate SPX Technologies (NYSE:SPXC) will be reporting results tomorrow afternoon. Here’s what to expect.

SPX Technologies met analysts’ revenue expectations last quarter, reporting revenues of $533.7 million, up 13.7% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA and organic revenue estimates.

Is SPX Technologies a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting SPX Technologies’s revenue to grow 3.2% year on year to $480.3 million, slowing from the 16.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.17 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SPX Technologies has missed Wall Street’s revenue estimates four times over the last two years.

Looking at SPX Technologies’s peers in the gas and liquid handling segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 2.9%, missing analysts’ expectations by 0.5%, and Graco reported revenues up 7.3%, in line with consensus estimates. Gorman-Rupp traded up 6.1% following the results while Graco was also up 2.1%.

Read our full analysis of Gorman-Rupp’s results here and Graco’s results here.

Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the gas and liquid handling stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.8% on average over the last month. SPX Technologies’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $166.33 (compared to the current share price of $132.90).

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