The following is a summary of the SPX Technologies, Inc. (SPXC) Q4 2023 Earnings Call Transcript:

Financial Performance:

• SPX Technologies reported Q4 revenue growth of 9.3% and an adjusted operating income growth of 18.7%, along with margin expansion of 150 basis points year-on-year.

• Adjusted EBITDA grew by 50% with adjusted EPS near the upper end of the guidance range.

• The full year adjusted EPS grew 39% to $4.31 and total Company revenues increased 9.3% year-on-year.

• The company ended Q4 with a cash count of $105 million and a total debt of $558 million, reducing the leverage ratio from 1.7 times in Q3 to 1.3 times in Q4.

• The full year adjusted free cash flow stood at $231 million, approximately 115% of adjusted net income.

• For the full year 2024, SPX provided guidance for adjusted EBITDA growth of 25%, adjusted EPS growth of 16% and anticipated its leverage ratio to be at the lower end of the targeted range of 1.5 to 2.5 times by year-end.

Business Progress:

• SPX made operational improvements and expanded its growth potential and geographic reach with the strategic acquisition of Ingénia, a company that designs and manufactures high-quality air handling units.

• It introduced innovative products like the Adriatic cooling solution and a system for precision location and mapping of underground utilities.

• Through its continuous improvement initiatives, SPX's HVAC segment served high levels of customer demand and achieved record segment margins.

• Despite experiencing uneven global demand in short-cycle businesses, the company leverages strong demand for its cooling and heating products in various markets to propel its growth.

• SPX anticipates a consistent game performance in 2024, with 46% of adjusted EPS being delivered in the first half, and 54% in the second half.

• The company is set for hosting an Investor Day on March 26th aiming to discuss future growth initiatives and plans, as per their 2024 guidance.

More details: SPX Technologies IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.