SPX Corp. Earnings: Booking a Profit Again

SPX Corporation (NYSE:SPW) reported its results for the third quarter. SPX is a global multi-industry manufacturing company offering highly-specialized engineered solutions to solve critical problems for customers.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

SPX Corporation Earnings Cheat Sheet

Results: Net income for SPX Corporation fell to $57.8 million ($1.16 per share) vs. $60.7 million ($1.20 per share) a year earlier. This is a decline of 4.8% from the year-earlier quarter.

Revenue: Rose 7.2% to $1.25 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: SPX Corporation reported adjusted net income of $1.05 per share. By that measure, the company fell in line with the mean estimate of $1.05 per share. It beat the average revenue estimate of $1.16 billion.

Quoting Management: “Our third quarter results were highlighted by increased year-over-year sales of Flow components and power transformers in North America and operating margins in our legacy Flow operations, which improved both sequentially and year over year,” said Christopher J. Kearney, Chairman, President, and Chief Executive Officer of SPX.

Key Stats:

The company met estimates last quarter after toppling them in the two previous quarters. In the second quarter, it topped the mark by 3 cents, and in the first quarter, it was ahead by one cent.

Net income has increased 8.3% year-over-year on average across the last five quarters. The biggest gain came in the third quarter of the last fiscal year, when income climbed 54.1% from the year-earlier quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from $1.94 a share to $1.89 over the last ninety days. The average estimate for the fiscal year is $3.84 per share, down from $4.14 ninety days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Are Allstate Shares a Sell in the Face of Hurricane Sandy?

Are New Tablets On Your Holiday Shopping List?

Will Consumers Have a Spooktacular Halloween?