By Dean Seal
SPX Technologies has raised its revenue and adjusted earnings guidance after completing its $418 million acquisition of ASPEQ Heating Group.
The infrastructure equipment supplier said it now expects adjusted earnings of $3.90 to $4.05 a share, up from its prior forecast of $3.80 to $3.95 a share.
Revenue is now expected to be in the range of $1.68 billion to $1.72 billion, compared with previous guidance for $1.61 billion to $1.65 billion.
The revision reflects the company’s partial year of ownership of ASPEQ, which is expected to have annual revenue of about $120 million, as well as the impacts of financing costs associated with the deal.
Shares slid 1% to $81.26 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
Read the full article here
