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Indebta > Investing > SPX Technologies Lifts Outlook After ASPEQ Deal Closes
Investing

SPX Technologies Lifts Outlook After ASPEQ Deal Closes

News Room
Last updated: 2023/06/05 at 7:30 PM
By News Room
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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

News Room June 5, 2023 June 5, 2023
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