Key Takeaways for SPX Technologies Stock as of August 2026
- Ten buys, one outperform, one hold: the mean target implies 31% upside.
- By December 2030, TIKR’s mid case model values SPX Technologies stock at $301, a 46% total return that works out to 9% annualized over 4.4 years.
- SPX Technologies stock looks underpriced against its own EBITDA trajectory: 2026 guidance now points to 27% growth at the midpoint, even as consensus estimates show that pace decelerating into 2027.
- Still, the number that moves the thesis is capacity: management raised its data center outlook to $1.1 billion at full production, up 47% from the prior $750 million target, following a faster ramp at its Olathe and Springfield plants.
SPX Technologies Beats Q2 Estimates and Raises Data Center Capacity to $1.1 Billion
SPX Technologies (SPXC) posted second quarter revenue of $679 million on July 30, up 22.9% year over year and ahead of the $640.1 million analysts had modeled. Adjusted EPS climbed 22.4% to $2.02, beating the $1.85 consensus, while GAAP EPS from continuing operations rose 41.8% to $1.56 and adjusted EBITDA rose 19.8% to $151.8 million.
That beat pushed SPX Technologies to raise 2026 revenue guidance to $2.71 billion to $2.77 billion and adjusted EBITDA guidance to $630 million to $660 million. It also lifted adjusted EPS guidance to $8.20 to $8.60, up from a prior $7.75 to $8.15 range, the third increase to the outlook this year.
Addressing what drove that raise on the Q2 earnings call, CEO Gene Lowe pointed straight at data center capacity: “Based on the meaningful progress to date, we now expect total data center capacity to reach approximately $1.1 billion once in full production, up from our prior expectation of approximately $750 million.”
That upgrade followed two earlier increases this year, with 2026 data center revenue guidance moving from $300 million to $350 million and now to $430 million, a 115% jump from last year’s volume.
HVAC segment revenue grew 27.6% year over year, 18.9% of it organic, and segment backlog reached $919 million, up 59% organically as hyperscaler orders built through the quarter.
Detection & Measurement segment income grew 43% and margin expanded 610 basis points, though about half of that gain came from favorable project mix and a $15 million project that shifted from the third quarter into the second.
SPX Technologies also closed its CA$605 million acquisition of Neptronic on July 9, adding an HVAC controls business with roughly $75 million in annual revenue and a mid-40s EBITDA margin. Management paid about 12.5 times EBITDA for the deal and expects it to add $0.05 to $0.06 to 2026 adjusted EPS.
The one soft spot sat in HVAC margins, which fell 260 basis points in the quarter on capacity start-up costs and tariffs that management called temporary rather than structural.
Wall Street Rates SPX Technologies Stock a Buy With a $272 Mean Target
Twelve analysts cover SPX Technologies stock, and ten rate it a buy, one an outperform and one a hold, with no sell ratings on the name.
The mean price target stands at $272, up from $268 in June and 31% above the $207 close on August 21. Targets range from a low of $225 to a high of $310, and the mean now sits at 131% of the current price, roughly where it stood back in March. Analyst coverage has also widened, from seven analysts a year ago to twelve now, as more desks initiated on the data center story.
Wall Street Expects SPX Technologies Stock’s Adjusted EBITDA to Grow 27% in 2026
SPX Technologies posted adjusted EBITDA of $151.8 million in the second quarter, up 19.8% year over year and ahead of the pace built into full year guidance.
Consensus estimates call for $170 million of adjusted EBITDA in the September quarter, up 24% year over year, and $200 million in December, up 38%, putting full year growth near the 27% guidance midpoint.
That pace slows sharply in 2027: estimates show EBITDA growth of 15% in the March quarter, 14% in June and just 7% by September, as last year’s data center and Neptronic contributions annualize. HVAC margin, still down 260 basis points from tariffs and start-up costs, is expected to normalize as capacity investments move into production over that window.
The open question now is whether the Street lifts those 2027 estimates before the $1.1 billion data center capacity target starts showing up in results, or waits until production ramps in 2028.
TIKR Values SPX Technologies Stock at $301, Pricing In the Data Center Ramp
TIKR’s mid case model values SPX Technologies stock at $301 by December 2030, a 46% total return from the current $207 price, or 9% annualized over 4.4 years.
That return sits above the Street’s 31% implied upside on its 12-month mean target, reflecting a longer runway for the capacity buildout to convert into earnings and a wider gap between the two time horizons the two targets are built on.
The case for $301 rests on the same dynamics behind the 2026 guidance raise: a data center capacity target now at $1.1 billion and a Neptronic acquisition already adding to EPS. HVAC backlog also finished the quarter up 59% and has yet to fully convert into revenue, leaving room for the growth embedded in TIKR’s model to build from here.
Should You Invest in SPX Technologies, Inc.?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
