{"id":2334,"date":"2025-07-22T18:28:33","date_gmt":"2025-07-22T18:28:33","guid":{"rendered":"https:\/\/live-spx-corp.pantheonsite.io\/?p=2334"},"modified":"2025-08-04T13:26:38","modified_gmt":"2025-08-04T13:26:38","slug":"spx-reports-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2021-results\/","title":{"rendered":"SPX Reports Second Quarter 2021 Results"},"content":{"rendered":"

Q2 2021 GAAP EPS of\u00a0$0.32; Q2 2021 Adjusted EPS* of\u00a0$0.49;
\n<\/strong>Updating 2021 Full-Year Guidance to Adjusted EPS* in a Range of\u00a0$2.25-$2.45;
\n<\/strong>Company on Track for \u2018SPX 2025\u2019 Targets<\/strong><\/p>\n

CHARLOTTE, N.C.,\u00a0Aug. 05, 2021\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) today reported results for the second quarter ended\u00a0July 3, 2021. All comments reflect continuing operations unless otherwise noted.<\/p>\n

Gene Lowe, President and CEO, remarked, \u201cOur second quarter results position us well to deliver significant full-year earnings growth. Our HVAC segment delivered another strong quarter, and we were encouraged by strong bookings and backlog across a number of our Detection & Measurement businesses. Our balance sheet remains solid, providing significant investment capacity for future growth.\u201d<\/p>\n

\u201cDuring the quarter, we announced an agreement to sell our Transformer Solutions business and laid out a strategy to accelerate our growth and further enhance our margin profile. We also continued to execute on our value creation framework with the acquisition of\u00a0Enterprise Control Systems Ltd\u00a0(\u201cECS\u201d) \u2013 the first acquisition in our Communications Technology platform within our Detection & Measurement segment, where we see significant opportunities to grow our global presence.\u201d<\/p>\n

Mr. Lowe\u00a0continued, \u201cWe are updating our guidance based upon the strength of our businesses and the acquisition of ECS. We now anticipate full-year 2021 Adjusted EPS in a range of\u00a0$2.25-$2.45, or approximately 27% year-on-year earnings growth at the midpoint. Looking ahead, we are on track to reach our \u2018SPX 2025\u2019 targets through both organic and strategic inorganic opportunities, as well as further investment in our continuous improvement and digital initiatives.\u201d<\/p>\n

Second Quarter 2021 Overview:<\/strong><\/p>\n

For the second quarter of 2021, the company reported revenue of\u00a0$296.7 million\u00a0and operating income of\u00a0$12.9 million, compared with revenue of\u00a0$258.0 million\u00a0and operating income of\u00a0$17.5 million\u00a0in the second quarter of 2020. Operating income in Q2 2021 includes a charge of\u00a0$2.7 million\u00a0related to revisions to recorded assets for legacy product liability-related matters.<\/p>\n

Diluted income per share from continuing operations in the second quarter of 2021 was\u00a0$0.32, compared with a diluted income per share from continuing operations of\u00a0$0.33\u00a0in the second quarter of 2020. In addition to the revision noted above, results for the second quarter of 2021 included the effect of several items recorded below the operating income line. These include\u00a0$2.7 million\u00a0of income derived from company-owned life insurance policies, included in Other income, as well as tax benefits related to various audit settlements, statute expirations, and other adjustments to liabilities for uncertain tax positions.<\/p>\n

SPX\u2019s adjusted revenue* was\u00a0$296.6 million\u00a0and adjusted operating income* was\u00a0$25.5 million, compared with adjusted revenue* of\u00a0$257.3 million\u00a0and adjusted operating income* of\u00a0$24.3 million\u00a0in the second quarter of 2020.\u00a0Adjusted operating income in Q2 2021 included the effect of the\u00a0$2.7 million\u00a0charge noted above. Adjusted income per share* in the second quarter of 2021 was\u00a0$0.49, compared with\u00a0$0.34\u00a0in the second quarter of 2020.<\/p>\n

Second Quarter Financial Comparison:<\/p>\n

GAAP Results:<\/strong><\/p>\n\n\n\n\n\n\n
($ millions)<\/strong><\/td>\n<\/td>\nQ2 2021<\/strong><\/td>\n<\/td>\nQ2 2020<\/strong><\/td>\n<\/td>\n2021 YTD<\/strong><\/td>\n<\/td>\n2020 YTD<\/strong><\/td>\n<\/tr>\n
Revenue<\/td>\n<\/td>\n$296.7<\/td>\n<\/td>\n$258.0<\/td>\n<\/td>\n$584.6<\/td>\n<\/td>\n$514.8<\/td>\n<\/tr>\n
Operating Income<\/td>\n<\/td>\n<\/td>\n12.9<\/td>\n<\/td>\n<\/td>\n17.5<\/td>\n<\/td>\n<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n33.6<\/td>\n<\/tr>\n
Segment Income<\/td>\n<\/td>\n<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n31.3<\/td>\n<\/td>\n<\/td>\n70.6<\/td>\n<\/td>\n<\/td>\n62.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Adjusted Results:<\/strong><\/p>\n\n\n\n\n\n\n
($ millions)<\/strong><\/td>\n<\/td>\nQ2 2021<\/strong><\/td>\n<\/td>\nQ2 2020<\/strong><\/td>\n<\/td>\n2021 YTD<\/strong><\/td>\n<\/td>\n2020 YTD<\/strong><\/td>\n<\/tr>\n
Adjusted Revenue*<\/td>\n<\/td>\n$296.6<\/td>\n<\/td>\n$257.3<\/td>\n<\/td>\n$583.8<\/td>\n<\/td>\n$512.0<\/td>\n<\/tr>\n
Adjusted Operating Income*<\/td>\n<\/td>\n<\/td>\n25.5<\/td>\n<\/td>\n<\/td>\n24.3<\/td>\n<\/td>\n<\/td>\n56.0<\/td>\n<\/td>\n<\/td>\n47.3<\/td>\n<\/tr>\n
Adjusted Segment Income*<\/td>\n<\/td>\n<\/td>\n44.2<\/td>\n<\/td>\n<\/td>\n38.0<\/td>\n<\/td>\n<\/td>\n91.2<\/td>\n<\/td>\n<\/td>\n76.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

* Non-GAAP financial measure. See attached schedules for reconciliation to most comparable GAAP financial measure.<\/p>\n

CVC<\/strong><\/p>\n

Revenue for Q2\u00a02021 was\u00a0$185.4 million, compared with\u00a0$165.2 million\u00a0in Q2\u00a02020, an increase of 12.2%, including a 14.1% increase in organic revenue, 0.8% favorable impact related to currency fluctuation and a 2.7% unfavorable impact from the settlement of a legacy contract retained in connection with the 2016 sale of the dry cooling business. The organic increase was primarily the result of higher volumes in our heating business.<\/p>\n

Segment income in Q2\u00a02021 was\u00a0$25.4 million, compared to\u00a0$19.6 million\u00a0in Q2 2020. Adjusted segment income*, which excludes intangible amortization expense of\u00a0$0.7 million, was\u00a0$26.1 million, or 14.1% of revenue. This compares with adjusted segment income* of\u00a0$20.3 million, or 12.3% of revenue in Q2\u00a02020, which excludes intangible amortization expense of\u00a0$0.7 million. The increase in adjusted segment income* and 180 basis points increase in adjusted segment income margin* were due primarily to the increase in revenues noted above.<\/p>\n

Detection & Measurement<\/strong><\/p>\n

Revenue for Q2\u00a02021 was\u00a0$111.2 million, compared with\u00a0$92.1 million\u00a0in Q2\u00a02020, an increase of 20.7%, including a 1.6% increase in organic revenue, a 17.2% increase from the acquisitions of Sealite, ULC and Sensors & Software, and a 1.9% favorable impact related to currency fluctuation. The organic increase was primarily the result of higher sales of location and inspection equipment, partially offset by lower sales of bus fare collection systems.<\/p>\n

Segment income in Q2 2021 was\u00a0$11.4 million, compared to\u00a0$16.0 million\u00a0in Q2 2020. Adjusted segment income*, which excludes intangible amortization expense and acquisition related costs of\u00a0$6.7 million, was\u00a0$18.1 million, or 16.3% of revenue. This compares with adjusted segment income* of\u00a0$17.7 million, or 19.2% of revenue, in Q2 2020, which excludes intangible amortization expense of\u00a0$1.7 million. The increase in adjusted segment income* was due to the increase in revenues noted above. The 290 basis points decline in margin was due primarily to lower project-oriented sales, which typically carry high margins.<\/p>\n

Autres<\/strong><\/p>\n

Other, which includes the South African operations, had revenue of\u00a0$0.1 million\u00a0in Q2 2021, compared with\u00a0$0.7 million\u00a0in Q2 2020. This decrease was due to lower sales related to large power projects which are in the latter stages of completion.<\/p>\n

Other incurred a loss in Q2 2021 of\u00a0$3.9 million, compared with a loss of\u00a0$4.3 million\u00a0in Q2 2020. This loss was driven primarily by professional fees related to the large power projects in\u00a0South Africa.<\/p>\n

Financial Update:\u00a0<\/strong>As of\u00a0July 3, 2021, SPX had total outstanding debt of\u00a0$416.7 million\u00a0and total cash of\u00a0$69.1 million.\u00a0During the first half of 2021, SPX generated net cash from continuing operations of\u00a0$38.9 million. Net leverage as of quarter end was 1.6x and increases to 1.8x when including the pro forma impact of the ECS acquisition, which occurred on\u00a0August 3, 2021.<\/p>\n

2021 Guidance Update:<\/strong><\/p>\n

SPX is updating its 2021 guidance for an anticipated stronger full-year performance and for the acquisition of ECS. SPX now anticipates Adjusted earnings per share* in a range of\u00a0$2.25\u00a0to\u00a0$2.45, or a\u00a0$0.08\u00a0increase from prior guidance of\u00a0$2.17\u00a0to\u00a0$2.37. The company continues to anticipate 2021 adjusted revenue of approximately\u00a0$1.25 billion, and adjusted operating income margin* of 11-12%.<\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Segment and company performance, on a year-over-year basis, is expected to be as follows (changes underlined):<\/p>\n\n\n\n\n\n\n\n\n
<\/td>\nRevenue<\/strong><\/td>\n<\/td>\nSegment Income Margin %<\/strong><\/td>\n<\/tr>\n
CVC<\/td>\n~$770-780 million<\/td>\n<\/td>\n~14.5%<\/td>\n<\/tr>\n
Detection & Measurement<\/td>\n~$465-475 million<\/td>\n<\/td>\n~20.5%<\/td>\n<\/tr>\n
<\/td>\n(prior\u00a0~$460-470 million)<\/em><\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Total SPX Adjusted<\/td>\n~$1.25 billion<\/td>\n<\/td>\n~17.0%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Non-GAAP Presentation:<\/strong>\u00a0To provide additional clarity to its operating results, the company discusses results that include \u201cadjusted\u201d non-GAAP financial measures. Adjusted results for the company exclude, among other items, the effect of the South African operations, categorized as \u201cOther\u201d in the company\u2019s segment reporting structure. The company reports separately on the results of the \u201cOther\u201d category. The company anticipates reporting the results of the business included in the \u201cOther\u201d category as discontinued operations, at such time as it meets the accounting requirements for this treatment.<\/p>\n

Form 10-Q:<\/strong>\u00a0The company expects to file its quarterly report on Form 10-Q for the quarter ended\u00a0July 3, 2021\u00a0with the\u00a0Securities and Exchange Commission\u00a0on or before\u00a0August 12, 2021. This press release should be read in conjunction with that filing, which will be available on the company’s website at\u00a0www.spx.com<\/a>, in the Investor Relations section.<\/p>\n

Conference Call:<\/strong>\u00a0SPX will host a conference call at\u00a04:30 p.m. (EDT)\u00a0today to discuss second quarter results. The call will be simultaneously webcast via the company’s website at\u00a0www.spx.com<\/a>\u00a0and the slide presentation will be available in the Investor Relations section of the site.<\/p>\n

Conference call
\nDial in: 877-341-7727
\nFrom outside\u00a0the United States: +1 262-558-6098
\nParticipant code: 4729537<\/p>\n

A replay of the call will be available by telephone through\u00a0Thursday, August 12, 2021.<\/p>\n

To listen to a replay of the call
\nDial in: 855-859-2056
\nFrom outside\u00a0the United States: +1 404-537-3406
\nParticipant code: 4729537<\/p>\n

Upcoming Investor Events:\u00a0\u00a0<\/strong>Company management plans to conduct virtual meetings with investors during the third quarter of 2021 and SPX will also be participating in the\u00a0Sidoti Fall Small Cap Conference\u00a0on\u00a0September 22nd<\/sup>.<\/p>\n

About\u00a0SPX Corporation<\/strong>:\u00a0\u00a0SPX Corporation\u00a0is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in\u00a0Charlotte, North Carolina,\u00a0SPX Corporation\u00a0had more than 4,500 employees in 15 countries.\u00a0SPX Corporation\u00a0is listed on the\u00a0New York Stock Exchange\u00a0under the ticker symbol \u201cSPXC.\u201d For more information, please visit\u00a0www.spx.com<\/a>.<\/p>\n

*Non-GAAP financial measure. See attached schedules for reconciliation of each historical non-GAAP measure to the respective most comparable GAAP financial measure.<\/p>\n

Note: Our non-GAAP financial guidance excludes items, which would be included in our GAAP financial measures that we do not consider indicative of our on-going performance; and are calculated in a manner consistent with the presentation of the similarly titled historical non-GAAP measures presented in this press release. These items include, but are not limited to, acquisition costs, costs associated with dispositions, the results of our South African operations, and potential non-cash income or expense items associated with changes in market interest rates and actuarial or other data related to our pension and postretirement plans, as the ultimate aggregate amounts associated with these items are out of our control and\/or cannot be reasonably predicted. Accordingly, a reconciliation of our non-GAAP financial guidance to the most comparable GAAP financial measures is not practicable.\u00a0\u00a0 Full-year guidance excludes impacts from future acquisitions, dispositions and related transaction costs, restructuring costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the end of the second quarter, the impact of foreign exchange rate changes subsequent to the end of the second quarter, impacts from further spread of COVID-19, and asbestos liability, environmental and litigation charges.<\/p>\n

Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these results in conjunction with the company\u2019s documents filed with the\u00a0Securities and Exchange Commission, including the company\u2019s most recent annual report on Form 10-K. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements, including the following: the impact of the COVID-19 pandemic and governmental and other actions taken in response; the uncertainty of claims resolution with respect to the large power projects in\u00a0South Africa, as well as claims with respect to asbestos, environmental and other contingent liabilities; cyclical changes and specific industry events in the company\u2019s markets; changes in anticipated capital investment and maintenance expenditures by customers; availability, limitations or cost increases of raw materials and\/or commodities that cannot be recovered in product pricing; the impact of competition on profit margins and the company\u2019s ability to maintain or increase market share; inadequate performance by third-party suppliers and subcontractors for outsourced products, components and services; cyber-security risks; risks with respect to the protection of intellectual property, including with respect to the company\u2019s digitalization initiatives; the impact of overruns, inflation and the incurrence of delays with respect to long-term fixed-price contracts; defects or errors in current or planned products; domestic economic, political, legal, accounting and business developments adversely affecting the company\u2019s business, including regulatory changes; changes in worldwide economic conditions; uncertainties with respect to the company\u2019s ability to identify acceptable acquisition targets; uncertainties surrounding timing and successful completion of any announced acquisition or disposition transactions, including with respect to integrating acquisitions and achieving cost savings or other benefits from acquisitions; the impact of retained liabilities of disposed businesses; potential labor disputes; and extreme weather conditions and natural and other disasters.<\/p>\n

Actual results may differ materially from these statements. The words \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cproject\u201d and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.<\/p>\n

Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.<\/p>\n

SOURCE\u00a0SPX Corporation.<\/p>\n

Investor and Media Contacts:<\/strong>
\nMark A. Carano, vice-pr\u00e9sident, directeur financier et tr\u00e9sorier
\nPhone:\u00a0 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

Nick Illuminati, Manager, Investor Relations
\nPhone: 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

Source:\u00a0SPX Corporation<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions, except per share amounts)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n296.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n258.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n584.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n514.8<\/td>\n<\/td>\n<\/tr>\n
Costs and expenses:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cost of products sold<\/td>\n<\/td>\n194.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n169.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n378.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n336.8<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative<\/td>\n<\/td>\n79.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n67.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n158.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n138.5<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization<\/td>\n<\/td>\n6.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n10.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.0<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/tr>\n
Other operating (income) expense<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.4)<\/td>\n<\/td>\n<\/tr>\n
Operating income<\/td>\n<\/td>\n12.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n17.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n33.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other income, net<\/td>\n<\/td>\n7.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n14.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.8<\/td>\n<\/td>\n<\/tr>\n
Interest expense<\/td>\n<\/td>\n(3.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(7.6)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(9.5)<\/td>\n<\/td>\n<\/tr>\n
Interest income<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations before income taxes<\/td>\n<\/td>\n16.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n18.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n39.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n30.0<\/td>\n<\/td>\n<\/tr>\n
Income tax provision<\/td>\n<\/td>\n(2.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(6.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.3)<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n<\/td>\n14.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n33.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n24.7<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income from discontinued operations, net of tax<\/td>\n<\/td>\n42.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n13.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n51.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.4<\/td>\n<\/td>\n<\/tr>\n
Gain (loss) on disposition of discontinued operations, net of tax<\/td>\n<\/td>\n4.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.3)<\/td>\n<\/td>\n<\/tr>\n
Income from discontinued operations, net of tax<\/td>\n<\/td>\n46.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n11.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n54.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n25.1<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n61.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n88.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n49.8<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Basic income per share of common stock:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n$<\/td>\n0.32<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.34<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.75<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.56<\/td>\n<\/td>\n<\/tr>\n
Income from discontinued operations<\/td>\n<\/td>\n1.04<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.27<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.20<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.56<\/td>\n<\/td>\n<\/tr>\n
Net income per share<\/td>\n$<\/td>\n1.36<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.61<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.95<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.12<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Weighted-average number of common shares outstanding \u2014 basic<\/td>\n<\/td>\n45.271<\/td>\n<\/td>\n<\/td>\n<\/td>\n44.590<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.201<\/td>\n<\/td>\n<\/td>\n<\/td>\n44.452<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Diluted income per share of common stock:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n$<\/td>\n0.32<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.33<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.73<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.54<\/td>\n<\/td>\n<\/tr>\n
Income from discontinued operations<\/td>\n<\/td>\n1.00<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.26<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.17<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.55<\/td>\n<\/td>\n<\/tr>\n
Net income per share<\/td>\n$<\/td>\n1.32<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.59<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.90<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.09<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Weighted-average number of common shares outstanding \u2014 diluted<\/td>\n<\/td>\n46.545<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.648<\/td>\n<\/td>\n<\/td>\n<\/td>\n46.408<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.620<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nDecember 31, 2020<\/strong><\/td>\n<\/tr>\n
ASSETS<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current assets:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash and equivalents<\/td>\n$<\/td>\n69.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n68.3<\/td>\n<\/td>\n<\/tr>\n
Accounts receivable, net<\/td>\n<\/td>\n212.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n221.0<\/td>\n<\/td>\n<\/tr>\n
Contract assets<\/td>\n<\/td>\n25.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n32.5<\/td>\n<\/td>\n<\/tr>\n
Inventories, net<\/td>\n<\/td>\n157.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n143.1<\/td>\n<\/td>\n<\/tr>\n
Other current assets (includes income taxes receivable of\u00a0$30.1\u00a0and\u00a0$27.3\u00a0at\u00a0July 3, 2021\u00a0and\u00a0December 31, 2020, respectively)<\/td>\n<\/td>\n104.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n96.1<\/td>\n<\/td>\n<\/tr>\n
Assets of discontinued operations<\/td>\n<\/td>\n332.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n121.6<\/td>\n<\/td>\n<\/tr>\n
Total current assets<\/td>\n<\/td>\n901.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n682.6<\/td>\n<\/td>\n<\/tr>\n
Property, plant and equipment:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Land<\/td>\n<\/td>\n14.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n12.9<\/td>\n<\/td>\n<\/tr>\n
Buildings and leasehold improvements<\/td>\n<\/td>\n67.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n64.9<\/td>\n<\/td>\n<\/tr>\n
Machinery and equipment<\/td>\n<\/td>\n227.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n215.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n309.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n293.4<\/td>\n<\/td>\n<\/tr>\n
Accumulated depreciation<\/td>\n<\/td>\n(196.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(183.4)<\/td>\n<\/td>\n<\/tr>\n
Property, plant and equipment, net<\/td>\n<\/td>\n113.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n110.0<\/td>\n<\/td>\n<\/tr>\n
Goodwill<\/td>\n<\/td>\n409.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n368.6<\/td>\n<\/td>\n<\/tr>\n
Intangibles, net<\/td>\n<\/td>\n325.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n305.0<\/td>\n<\/td>\n<\/tr>\n
Other assets<\/td>\n<\/td>\n609.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n609.8<\/td>\n<\/td>\n<\/tr>\n
Deferred income taxes<\/td>\n<\/td>\n51.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n23.9<\/td>\n<\/td>\n<\/tr>\n
Assets of discontinued operations<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n219.1<\/td>\n<\/td>\n<\/tr>\n
TOTAL ASSETS<\/td>\n$<\/td>\n2,410.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n2,319.0<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
LIABILITIES AND EQUITY<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Accounts payable<\/td>\n$<\/td>\n86.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n104.6<\/td>\n<\/td>\n<\/tr>\n
Contract liabilities<\/td>\n<\/td>\n49.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n46.3<\/td>\n<\/td>\n<\/tr>\n
Accrued expenses<\/td>\n<\/td>\n230.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n209.4<\/td>\n<\/td>\n<\/tr>\n
Income taxes payable<\/td>\n<\/td>\n2.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/tr>\n
Short-term debt<\/td>\n<\/td>\n168.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n101.2<\/td>\n<\/td>\n<\/tr>\n
Current maturities of long-term debt<\/td>\n<\/td>\n10.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.2<\/td>\n<\/td>\n<\/tr>\n
Liabilities of discontinued operations<\/td>\n<\/td>\n159.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n115.8<\/td>\n<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n<\/td>\n707.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n584.9<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Long-term debt<\/td>\n<\/td>\n238.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n304.0<\/td>\n<\/td>\n<\/tr>\n
Deferred and other income taxes<\/td>\n<\/td>\n19.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n23.5<\/td>\n<\/td>\n<\/tr>\n
Other long-term liabilities<\/td>\n<\/td>\n717.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n746.7<\/td>\n<\/td>\n<\/tr>\n
Liabilities of discontinued operations<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n30.7<\/td>\n<\/td>\n<\/tr>\n
Total long-term liabilities<\/td>\n<\/td>\n974.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1,104.9<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Equity:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Common stock<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/tr>\n
Paid-in capital<\/td>\n<\/td>\n1,321.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n1,319.9<\/td>\n<\/td>\n<\/tr>\n
Retained deficit<\/td>\n<\/td>\n(399.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(488.1)<\/td>\n<\/td>\n<\/tr>\n
Accumulated other comprehensive income<\/td>\n<\/td>\n250.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n248.5<\/td>\n<\/td>\n<\/tr>\n
Common stock in treasury<\/td>\n<\/td>\n(444.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(451.6)<\/td>\n<\/td>\n<\/tr>\n
Total equity<\/td>\n<\/td>\n728.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n629.2<\/td>\n<\/td>\n<\/tr>\n
TOTAL LIABILITIES AND EQUITY<\/td>\n$<\/td>\n2,410.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n2,319.0<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
RESULTS OF REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENT<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\n\u0394<\/strong><\/td>\n%\/bps<\/strong><\/em><\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\n\u0394<\/strong><\/td>\n%\/bps<\/strong><\/em><\/td>\n<\/tr>\n
HVAC reportable segment<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n185.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n165.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n20.2<\/td>\n<\/td>\n12.2\u00a0<\/em>%<\/em><\/td>\n$<\/td>\n361.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n328.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n33.0<\/td>\n<\/td>\n10.1\u00a0<\/em>%<\/em><\/td>\n<\/tr>\n
Gross profit<\/td>\n<\/td>\n55.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n51.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n4.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n109.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n99.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n10.2<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n29.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n30.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n60.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n60.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.1)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.1)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income<\/td>\n$<\/td>\n25.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n19.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n5.8<\/td>\n<\/td>\n29.6\u00a0<\/em>%<\/em><\/td>\n$<\/td>\n47.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n37.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n10.4<\/td>\n<\/td>\n27.9\u00a0<\/em>%<\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/td>\n<\/td>\n13.7%<\/td>\n<\/td>\n<\/td>\n<\/td>\n11.9%<\/td>\n<\/td>\n<\/td>\n<\/td>\n180 bps<\/em><\/td>\n<\/td>\n13.2%<\/td>\n<\/td>\n<\/td>\n<\/td>\n11.4%<\/td>\n<\/td>\n<\/td>\n<\/td>\n180 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Detection & Measurement reportable segment<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n111.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n92.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n19.1<\/td>\n<\/td>\n20.7\u00a0<\/em>%<\/em><\/td>\n$<\/td>\n222.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n184.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n38.8<\/td>\n<\/td>\n21.1\u00a0<\/em>%<\/em><\/td>\n<\/tr>\n
Gross profit<\/td>\n<\/td>\n46.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n37.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n8.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n96.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n79.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n17.0<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n28.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n20.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n8.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n56.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n42.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n14.2<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Intangible amortization expense<\/td>\n<\/td>\n5.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n4.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.6<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income<\/td>\n$<\/td>\n11.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n16.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(4.6)<\/td>\n<\/td>\n(28.8<\/em>)%<\/em><\/td>\n$<\/td>\n31.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n34.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(2.8)<\/td>\n<\/td>\n(8.2<\/em>)%<\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/td>\n<\/td>\n10.3%<\/td>\n<\/td>\n<\/td>\n<\/td>\n17.4%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-710 bps<\/em><\/td>\n<\/td>\n14.1%<\/td>\n<\/td>\n<\/td>\n<\/td>\n18.6%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-450 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Autres<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(0.6)<\/td>\n<\/td>\n(85.7<\/em>)%<\/em><\/td>\n$<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n2.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(2.0)<\/td>\n<\/td>\n(71.4<\/em>)%<\/em><\/td>\n<\/tr>\n
Gross profit (loss)<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.6)<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n<\/td>\n4.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n8.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Loss<\/td>\n$<\/td>\n(3.9)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(4.3)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.4<\/td>\n<\/td>\n(9.3<\/em>)%<\/em><\/td>\n$<\/td>\n(8.5)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(8.6)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.1<\/td>\n<\/td>\n(1.2<\/em>)%<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Consolidated Revenues<\/strong><\/td>\n$<\/strong><\/td>\n296.7<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n258.0<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n38.7<\/strong><\/td>\n<\/td>\n15.0\u00a0<\/strong><\/em>%<\/strong><\/em><\/td>\n$<\/strong><\/td>\n584.6<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n514.8<\/strong><\/td>\n<\/td>\n<\/td>\n$<\/strong><\/td>\n69.8<\/strong><\/td>\n<\/td>\n13.6\u00a0<\/strong><\/em>%<\/strong><\/em><\/td>\n<\/tr>\n
Consolidated Segment Income<\/strong><\/td>\n<\/td>\n32.9<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n31.3<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n1.6<\/strong><\/td>\n<\/td>\n5.1\u00a0<\/strong><\/em>%<\/strong><\/em><\/td>\n<\/td>\n70.6<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n62.9<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n7.7<\/strong><\/td>\n<\/td>\n12.2\u00a0<\/strong><\/em>%<\/strong><\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/strong><\/td>\n<\/td>\n11.1\u00a0<\/strong>%<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n12.1\u00a0<\/strong>%<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n-100 bps<\/strong><\/em><\/td>\n<\/td>\n12.1\u00a0<\/strong>%<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n12.2\u00a0<\/strong>%<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n-10 bps<\/strong><\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Total segment income<\/td>\n$<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n31.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n1.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n70.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n62.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n7.7<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Corporate expense<\/td>\n<\/td>\n13.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n27.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n22.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.5<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Long-term incentive compensation expense<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.3)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other operating (income) expense<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.1<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Consolidated operating income<\/strong><\/td>\n$<\/td>\n12.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n17.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(4.6)<\/td>\n<\/td>\n(26.3<\/em>)%<\/em><\/td>\n$<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n33.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(0.7)<\/td>\n<\/td>\n(2.1<\/em>)%<\/em><\/td>\n<\/tr>\n
as a percent of revenues<\/td>\n<\/td>\n4.3%<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-250 bps<\/em><\/td>\n<\/td>\n5.6%<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.5%<\/td>\n<\/td>\n<\/td>\n<\/td>\n-90 bps<\/em><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/tr>\n
Cash flows from (used in) operating activities:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n61.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n88.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n49.8<\/td>\n<\/td>\n<\/tr>\n
Less: Income from discontinued operations, net of tax<\/td>\n<\/td>\n46.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n11.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n54.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n25.1<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/td>\n<\/td>\n14.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n33.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n24.7<\/td>\n<\/td>\n<\/tr>\n
Adjustments to reconcile income from continuing operations to net cash from (used in) operating activities:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/tr>\n
Gain on change in fair value of equity security<\/td>\n<\/td>\n(2.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(7.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.3)<\/td>\n<\/td>\n<\/tr>\n
Deferred and other income taxes<\/td>\n<\/td>\n(6.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n11.0<\/td>\n<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n<\/td>\n11.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n7.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n20.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n13.8<\/td>\n<\/td>\n<\/tr>\n
Pension and other employee benefits<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.6<\/td>\n<\/td>\n<\/tr>\n
Long-term incentive compensation<\/td>\n<\/td>\n3.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.4<\/td>\n<\/td>\n<\/tr>\n
Other, net<\/td>\n<\/td>\n1.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.8<\/td>\n<\/td>\n<\/tr>\n
Changes in operating assets and liabilities, net of effects from acquisitions:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Accounts receivable and other assets<\/td>\n<\/td>\n(9.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n23.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n52.2<\/td>\n<\/td>\n<\/tr>\n
Inventories<\/td>\n<\/td>\n0.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n(6.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(6.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(27.2)<\/td>\n<\/td>\n<\/tr>\n
Accounts payable, accrued expenses and other<\/td>\n<\/td>\n(9.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(36.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(31.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(90.4)<\/td>\n<\/td>\n<\/tr>\n
Cash spending on restructuring actions<\/td>\n<\/td>\n(1.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.8)<\/td>\n<\/td>\n<\/tr>\n
Net cash from (used in) continuing operations<\/td>\n<\/td>\n4.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n38.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n(9.9)<\/td>\n<\/td>\n<\/tr>\n
Net cash from discontinued operations<\/td>\n<\/td>\n13.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n17.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n40.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n36.2<\/td>\n<\/td>\n<\/tr>\n
Net cash from operating activities<\/td>\n<\/td>\n18.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n78.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash flows from (used in) investing activities:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Proceeds from company-owned life insurance policies, net<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.1<\/td>\n<\/td>\n<\/tr>\n
Business acquisitions, net of cash acquired<\/td>\n<\/td>\n(81.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(81.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n<\/td>\n(2.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.3)<\/td>\n<\/td>\n<\/tr>\n
Net cash used in continuing operations<\/td>\n<\/td>\n(83.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(82.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(7.2)<\/td>\n<\/td>\n<\/tr>\n
Net cash used in discontinued operations<\/td>\n<\/td>\n(0.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.1)<\/td>\n<\/td>\n<\/tr>\n
Net cash used in investing activities<\/td>\n<\/td>\n(84.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(83.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.3)<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash flows from (used in) financing activities:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Borrowings under senior credit facilities<\/td>\n<\/td>\n48.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n102.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n178.7<\/td>\n<\/td>\n<\/tr>\n
Repayments under senior credit facilities<\/td>\n<\/td>\n(13.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(94.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(88.7)<\/td>\n<\/td>\n<\/tr>\n
Borrowings under trade receivables financing arrangement<\/td>\n<\/td>\n78.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n10.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n132.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n65.0<\/td>\n<\/td>\n<\/tr>\n
Repayments under trade receivables financing arrangement<\/td>\n<\/td>\n(86.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(134.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(30.0)<\/td>\n<\/td>\n<\/tr>\n
Net repayments under other financing arrangements<\/td>\n<\/td>\n(0.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.4)<\/td>\n<\/td>\n<\/tr>\n
Payment of contingent consideration<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.5)<\/td>\n<\/td>\n<\/tr>\n
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.3)<\/td>\n<\/td>\n<\/tr>\n
Net cash from continuing operations<\/td>\n<\/td>\n26.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n119.8<\/td>\n<\/td>\n<\/tr>\n
Net cash used in discontinued operations<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/tr>\n
Net cash from financing activities<\/td>\n<\/td>\n26.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n119.8<\/td>\n<\/td>\n<\/tr>\n
Change in cash and equivalents due to changes in foreign currency exchange rates<\/td>\n<\/td>\n1.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.6)<\/td>\n<\/td>\n<\/td>\n<\/td>\n4.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.3)<\/td>\n<\/td>\n<\/tr>\n
Net change in cash and equivalents<\/td>\n<\/td>\n(37.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n27.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n135.5<\/td>\n<\/td>\n<\/tr>\n
Consolidated cash and equivalents, beginning of period<\/td>\n<\/td>\n106.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n163.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n68.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n54.7<\/td>\n<\/td>\n<\/tr>\n
Consolidated cash and equivalents, end of period<\/td>\n$<\/td>\n69.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n190.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n69.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n190.2<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
CASH AND DEBT RECONCILIATION<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nSix months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Beginning cash and equivalents<\/td>\n$<\/td>\n68.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash from continuing operations<\/td>\n<\/td>\n38.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Capital expenditures<\/td>\n<\/td>\n(4.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Proceeds from company-owned life insurance policies, net<\/td>\n<\/td>\n3.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Business acquisitions, net of cash acquired<\/td>\n<\/td>\n(81.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Borrowings under senior credit facilities<\/td>\n<\/td>\n102.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Repayments under senior credit facilities<\/td>\n<\/td>\n(94.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net repayments under other financing arrangements<\/td>\n<\/td>\n(2.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options<\/td>\n<\/td>\n(4.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Cash from discontinued operations<\/td>\n<\/td>\n38.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Change in cash due to changes in foreign currency exchange rates<\/td>\n<\/td>\n4.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Ending cash and equivalents<\/td>\n$<\/td>\n69.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nDebt at<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\nDebt at<\/strong><\/td>\n<\/tr>\n
<\/td>\nDecember 31, 2020<\/strong><\/td>\n<\/td>\nBorrowings<\/strong><\/td>\n<\/td>\nRepayments<\/strong><\/td>\n<\/td>\nAutres<\/strong><\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/tr>\n
Revolving loans<\/td>\n$<\/td>\n129.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n102.0<\/td>\n<\/td>\n$<\/td>\n(91.8)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n–<\/td>\n<\/td>\n<\/td>\n$<\/td>\n140.0<\/td>\n<\/td>\n<\/tr>\n
Term loan<\/td>\n<\/td>\n250.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n(3.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n246.9<\/td>\n<\/td>\n<\/tr>\n
Trade receivables financing arrangement<\/td>\n<\/td>\n28.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n132.0<\/td>\n<\/td>\n<\/td>\n(134.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.0<\/td>\n<\/td>\n<\/tr>\n
Other indebtedness<\/td>\n<\/td>\n6.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.5<\/td>\n<\/td>\n<\/td>\n(0.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n5.0<\/td>\n<\/td>\n<\/tr>\n
Less: Deferred financing costs associated with the term loan<\/td>\n<\/td>\n(1.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.2)<\/td>\n<\/td>\n<\/tr>\n
Totals<\/td>\n$<\/td>\n412.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n234.5<\/td>\n<\/td>\n$<\/td>\n(229.4)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n(0.8)<\/td>\n<\/td>\n<\/td>\n$<\/td>\n416.7<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – ORGANIC REVENUE<\/strong><\/td>\n<\/td>\n<\/tr>\n
HVAC AND DETECTION & MEASUREMENT REPORTABLE SEGMENTS<\/strong><\/td>\n<\/td>\n<\/tr>\n
(Unaudited)<\/strong><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended\u00a0July 3, 2021<\/strong><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nCVC<\/strong><\/td>\n<\/td>\nDetection &
\nMeasurement<\/strong><\/td>\n		<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Net Revenue Growth<\/td>\n<\/td>\n12.2<\/td>\n%<\/td>\n20.7<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Foreign Currency<\/td>\n<\/td>\n0.8<\/td>\n%<\/td>\n1.9<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Acquisitions<\/td>\n<\/td>\n–<\/td>\n%<\/td>\n17.2<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Settlement of legacy dry cooling contract<\/td>\n<\/td>\n(2.7)<\/td>\n%<\/td>\n–<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Organic Revenue Growth<\/td>\n<\/td>\n14.1<\/td>\n%<\/td>\n1.6<\/td>\n%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – REVENUE AND SEGMENT INCOME<\/strong><\/td>\n<\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
CONSOLIDATED SPX:<\/strong><\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\n<\/tr>\n
Consolidated revenue<\/td>\n<\/td>\n$<\/td>\n296.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n258.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n584.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n514.8<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: “Other” operating segment\u00a0(1)<\/sup><\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n2.8<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Adjusted consolidated revenue<\/td>\n<\/td>\n$<\/td>\n296.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n257.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n583.8<\/td>\n<\/td>\n<\/td>\n$<\/td>\n512.0<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Total segment income<\/td>\n<\/td>\n$<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n31.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n70.6<\/td>\n<\/td>\n<\/td>\n$<\/td>\n62.9<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: “Other” operating segment\u00a0(1)<\/sup><\/td>\n<\/td>\n<\/td>\n(3.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.6)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n(0.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.6)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.1)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Amortization expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n(6.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(10.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.0)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Adjusted segment income<\/td>\n<\/td>\n$<\/td>\n44.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n38.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n91.2<\/td>\n<\/td>\n<\/td>\n$<\/td>\n76.6<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
as a percent of adjusted revenues\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n14.9%<\/td>\n<\/td>\n<\/td>\n<\/td>\n14.8%<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.6%<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.0%<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
HVAC REPORTABLE SEGMENT:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
HVAC segment income<\/td>\n<\/td>\n$<\/td>\n25.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n19.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Amortization expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n(0.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
HVAC adjusted segment income<\/td>\n<\/td>\n$<\/td>\n26.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n20.3<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
as a percent of HVAC segment revenues\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n14.1%<\/td>\n<\/td>\n<\/td>\n<\/td>\n12.3%<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
DETECTION & MEASUREMENT REPORTABLE SEGMENT:<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Detection & Measurement segment income<\/td>\n<\/td>\n$<\/td>\n11.4<\/td>\n<\/td>\n<\/td>\n$<\/td>\n16.0<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n(0.9)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude: Amortization expense\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n(5.8)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Detection & Measurement adjusted segment income<\/td>\n<\/td>\n$<\/td>\n18.1<\/td>\n<\/td>\n<\/td>\n$<\/td>\n17.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
as a percent of Detection & Measurement segment revenues\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n16.3%<\/td>\n<\/td>\n<\/td>\n<\/td>\n19.2%<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)\u00a0<\/sup>Represents the removal of the financial results of our\u00a0South Africa\u00a0business. Note: This business is being reported as an “Other” operating segment for\u00a0U.S.\u00a0GAAP purposes due to wind-down activities that are occurring within this business.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(2)\u00a0<\/sup>Represents additional “Cost of products sold” recorded during the three months ended\u00a0July 3, 2021\u00a0related to the step-up of inventory (to fair value) acquired in connection with the Sealite acquisition and the Sealite and Sensors & Software acquisitions during the six months ended\u00a0July 3, 2021\u00a0and acquisition related costs for the HVAC reportable segment during the six months ended\u00a0June 27, 2020.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(3)<\/sup>\u00a0Represents amortization expense associated with acquired intangible assets.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0See “Results of Reportable Segments and Other Operating Segment” for applicable percentages based on GAAP results.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – OPERATING INCOME<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nThree months ended<\/strong><\/td>\n<\/td>\nSix months ended<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/td>\nJuly 3, 2021<\/strong><\/td>\n<\/td>\nJune 27, 2020<\/strong><\/td>\n<\/tr>\n
Operating income<\/td>\n<\/td>\n$<\/td>\n12.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n17.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n33.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Exclude:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Aggregate operating losses of the\u00a0South Africa\u00a0business\u00a0(1)<\/sup><\/td>\n<\/td>\n<\/td>\n(4.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(9.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(8.8)<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Acquisition related costs\u00a0(2)<\/sup><\/td>\n<\/td>\n<\/td>\n(2.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.3)<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other operating income\u00a0(3)<\/sup><\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Amortization expense\u00a0(4)<\/sup><\/td>\n<\/td>\n<\/td>\n(6.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.4)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(10.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.0)<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Adjusted operating income<\/td>\n<\/td>\n$<\/td>\n25.5<\/td>\n<\/td>\n<\/td>\n$<\/td>\n24.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n56.0<\/td>\n<\/td>\n<\/td>\n$<\/td>\n47.3<\/td>\n<\/td>\n<\/tr>\n
as a percent of adjusted revenues\u00a0(5)<\/sup><\/td>\n<\/td>\n<\/td>\n8.6%<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.4%<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.6%<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.2%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)<\/sup>\u00a0Represents the removal of the financial results of our\u00a0South Africa\u00a0business, inclusive of “special charges” of\u00a0$0.1\u00a0and\u00a0$0.0\u00a0during the three months ended\u00a0July 3, 2021\u00a0and\u00a0June 27, 2020, respectively, and\u00a0$0.6\u00a0and\u00a0$0.2\u00a0during the six months ended\u00a0July 3, 2021\u00a0and\u00a0June 27, 2020, respectively.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(2)<\/sup>\u00a0Represents acquisition related costs during the three months ended\u00a0July 3, 2021\u00a0and\u00a0June 27, 2020\u00a0associated with (i) inventory step-up of\u00a0$0.9\u00a0and\u00a0$0.0, respectively and (ii) integration and transaction costs of\u00a0$1.2\u00a0and\u00a0$0.1, respectively, and acquisition related costs during the six months ended\u00a0July 3, 2021\u00a0and\u00a0June 27, 2020\u00a0associated with (i) inventory step-up of\u00a0$1.6\u00a0and\u00a0$0.0\u00a0and (ii) integration and transaction costs of\u00a0$1.9\u00a0and\u00a0$0.3, respectively.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(3)<\/sup>\u00a0For the six months ended\u00a0June 27, 2020, includes a gain of\u00a0$0.4\u00a0related to revisions to estimates of certain liabilities retained in connection with the 2016 sale of the dry cooling business.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0Represents amortization expense associated with acquired intangible assets.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0(5)<\/sup>\u00a0See “Results of Reportable Segments and Other Operating Segment” for applicable percentages based on GAAP results.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – EARNINGS PER SHARE<\/strong><\/td>\n<\/tr>\n
Three Months Ended\u00a0July 3, 2021<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions, except per share values)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nGAAP<\/strong><\/td>\n<\/td>\nAdjustments<\/strong><\/td>\n<\/td>\nAdjusted<\/strong><\/td>\n<\/tr>\n
Segment income\u00a0(1)<\/sup><\/td>\n$<\/td>\n32.9<\/td>\n<\/td>\n<\/td>\n$<\/td>\n11.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n44.2<\/td>\n<\/td>\n<\/tr>\n
Corporate expense\u00a0(2)<\/sup><\/td>\n<\/td>\n(13.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n(12.1)<\/td>\n<\/td>\n<\/tr>\n
Long-term incentive compensation expense<\/td>\n<\/td>\n(3.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.3)<\/td>\n<\/td>\n<\/tr>\n
Special charges, net\u00a0(3)<\/sup><\/td>\n<\/td>\n(0.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(0.6)<\/td>\n<\/td>\n<\/tr>\n
Other operating expense<\/td>\n<\/td>\n(2.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(2.7)<\/td>\n<\/td>\n<\/tr>\n
Operating income<\/strong><\/td>\n<\/td>\n12.9<\/td>\n<\/td>\n<\/td>\n<\/td>\n12.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n25.5<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other income, net\u00a0(4)<\/sup><\/td>\n<\/td>\n7.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.2)<\/td>\n<\/td>\n<\/td>\n<\/td>\n3.9<\/td>\n<\/td>\n<\/tr>\n
Interest expense, net\u00a0(5)<\/sup><\/td>\n<\/td>\n(3.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.1)<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations before income taxes<\/strong><\/td>\n<\/td>\n16.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n9.6<\/td>\n<\/td>\n<\/td>\n<\/td>\n26.3<\/td>\n<\/td>\n<\/tr>\n
Income tax provision\u00a0(<\/sup>6<\/sup>)<\/sup><\/td>\n<\/td>\n(2.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.5)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.5)<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/strong><\/td>\n<\/td>\n14.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n8.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n22.8<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Diluted shares outstanding<\/td>\n<\/td>\n46.545<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n46.545<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Earnings per share from continuing operations<\/strong><\/td>\n$<\/td>\n0.32<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.49<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)<\/sup>\u00a0Adjustment represents the removal of (i) operating losses associated with the\u00a0South Africa\u00a0business ($3.9), (ii) amortization expense associated with acquired intangible assets ($6.5) and (iii) inventory step-up charges related to the Sealite acquisition of ($0.9).<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(2)<\/sup>\u00a0Adjustment represents the removal of acquisition related expenses incurred during the period.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(3)\u00a0<\/sup>Adjustment represents removal of restructuring charges associated with the\u00a0South Africa\u00a0business.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(4)<\/sup>\u00a0Adjustment represents the removal of (i) a gain on an equity security associated with a fair value adjustment ($2.2), (ii) non-service pension and postretirement income ($0.4), and (iii) foreign currency gains associated with the South African business ($0.6).<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(5)<\/sup>\u00a0Adjustment represents the write-off of deferred finance costs in connection with a reduction of our credit facilities primarily used to support our\u00a0South Africa\u00a0business.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(<\/sup>6<\/sup>)<\/sup>\u00a0Adjustment primarily represents the tax impact of items (1) through (5) above.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SPX CORPORATION AND SUBSIDIARIES<\/strong><\/td>\n<\/tr>\n
NON-GAAP RECONCILIATION – EARNINGS PER SHARE<\/strong><\/td>\n<\/tr>\n
Three Months Ended\u00a0June 27, 2020<\/strong><\/td>\n<\/tr>\n
(Unaudited; in millions, except per share values)<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nGAAP<\/strong><\/td>\n<\/td>\nAdjustments<\/strong><\/td>\n<\/td>\nAdjusted<\/strong><\/td>\n<\/tr>\n
Segment income\u00a0(1)<\/sup><\/td>\n$<\/td>\n31.3<\/td>\n<\/td>\n<\/td>\n$<\/td>\n6.7<\/td>\n<\/td>\n<\/td>\n$<\/td>\n38.0<\/td>\n<\/td>\n<\/tr>\n
Corporate expense\u00a0(2)<\/sup><\/td>\n<\/td>\n(9.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.1<\/td>\n<\/td>\n<\/td>\n<\/td>\n(9.6)<\/td>\n<\/td>\n<\/tr>\n
Long-term incentive compensation expense<\/td>\n<\/td>\n(3.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(3.1)<\/td>\n<\/td>\n<\/tr>\n
Special charges, net<\/td>\n<\/td>\n(1.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.0)<\/td>\n<\/td>\n<\/tr>\n
Operating income<\/strong><\/td>\n<\/td>\n17.5<\/td>\n<\/td>\n<\/td>\n<\/td>\n6.8<\/td>\n<\/td>\n<\/td>\n<\/td>\n24.3<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Other income, net\u00a0(3)<\/sup><\/td>\n<\/td>\n5.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n(5.1)<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.3<\/td>\n<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n<\/td>\n(4.7)<\/td>\n<\/td>\n<\/td>\n<\/td>\n–<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.7)<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations before income taxes<\/strong><\/td>\n<\/td>\n18.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n1.7<\/td>\n<\/td>\n<\/td>\n<\/td>\n19.9<\/td>\n<\/td>\n<\/tr>\n
Income tax provision\u00a0(4)<\/sup><\/td>\n<\/td>\n(3.0)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(1.3)<\/td>\n<\/td>\n<\/td>\n<\/td>\n(4.3)<\/td>\n<\/td>\n<\/tr>\n
Income from continuing operations<\/strong><\/td>\n<\/td>\n15.2<\/td>\n<\/td>\n<\/td>\n<\/td>\n0.4<\/td>\n<\/td>\n<\/td>\n<\/td>\n15.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Diluted shares outstanding<\/td>\n<\/td>\n45.648<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n45.648<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Earnings per share from continuing operations<\/strong><\/td>\n$<\/td>\n0.33<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n$<\/td>\n0.34<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(1)\u00a0<\/sup>Adjustment represents the removal of (i) operating losses associated with the\u00a0South Africa\u00a0business ($4.3) and (ii) amortization expense associated with acquired intangible assets ($2.4).<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
(2)<\/sup>\u00a0Adjustment represents the removal of acquisition related expenses incurred during the period.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(3)<\/sup>\u00a0Adjustment represents the removal of (i) a gain on an equity security associated with a fair value adjustment ($5.3) and (ii) non-service pension and postretirement charges ($0.2).<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
(4)\u00a0<\/sup>Adjustment primarily represents the tax impact of items (1) through (3) above and the removal of certain discrete income tax benefits.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\"Primary<\/a><\/p>\n

Source: SPX Corporation<\/p>","protected":false},"excerpt":{"rendered":"

Q2 2021 GAAP EPS of\u00a0$0.32; Q2 2021 Adjusted EPS* of\u00a0$0.49; Updating 2021 Full-Year Guidance to Adjusted EPS* in a Range of\u00a0$2.25-$2.45; Company on Track for \u2018SPX 2025\u2019 Targets CHARLOTTE, N.C.,\u00a0Aug. 05, 2021\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) today reported results for the second quarter ended\u00a0July 3, 2021. All comments reflect continuing operations unless otherwise noted. Gene Lowe, […]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[24],"tags":[],"dipi_cpt_category":[],"class_list":["post-2334","post","type-post","status-publish","format-standard","hentry","category-earnings"],"acf":[],"yoast_head":"\nSPX Reports Second Quarter 2021 Results - SPX Technologies in Charlotte, NC<\/title>\n<meta name=\"description\" content=\"SPX expands its Communications Technologies platform through a strategic acquisition \u2014 discover the details.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPX Reports Second Quarter 2021 Results - SPX Technologies in Charlotte, NC\" \/>\n<meta property=\"og:description\" content=\"SPX expands its Communications Technologies platform through a strategic acquisition \u2014 discover the details.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2021-results\/\" \/>\n<meta property=\"og:site_name\" content=\"SPX Technologies in Charlotte, NC\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-22T18:28:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-04T13:26:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ml.globenewswire.com\/media\/bbeab455-1216-4bad-9ee1-ddc95574d16e\/small\/spx-logo-horizontal-rgb-2-jpg.jpg\" \/>\n<meta name=\"author\" content=\"DNS Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"DNS Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimation du temps de lecture\" \/>\n\t<meta name=\"twitter:data2\" content=\"22 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/\"},\"author\":{\"name\":\"DNS Admin\",\"@id\":\"https:\\\/\\\/spx.com\\\/#\\\/schema\\\/person\\\/0c386f66d333558caedba0b782977aa7\"},\"headline\":\"SPX Reports Second Quarter 2021 Results\",\"datePublished\":\"2025-07-22T18:28:33+00:00\",\"dateModified\":\"2025-08-04T13:26:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/\"},\"wordCount\":3705,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/spx.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ml.globenewswire.com\\\/media\\\/bbeab455-1216-4bad-9ee1-ddc95574d16e\\\/small\\\/spx-logo-horizontal-rgb-2-jpg.jpg\",\"articleSection\":[\"Earnings\"],\"inLanguage\":\"fr-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/\",\"url\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/\",\"name\":\"SPX Reports Second Quarter 2021 Results - SPX Technologies in Charlotte, NC\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/spx.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ml.globenewswire.com\\\/media\\\/bbeab455-1216-4bad-9ee1-ddc95574d16e\\\/small\\\/spx-logo-horizontal-rgb-2-jpg.jpg\",\"datePublished\":\"2025-07-22T18:28:33+00:00\",\"dateModified\":\"2025-08-04T13:26:38+00:00\",\"description\":\"SPX expands its Communications Technologies platform through a strategic acquisition \u2014 discover the details.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#breadcrumb\"},\"inLanguage\":\"fr-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-CA\",\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/ml.globenewswire.com\\\/media\\\/bbeab455-1216-4bad-9ee1-ddc95574d16e\\\/small\\\/spx-logo-horizontal-rgb-2-jpg.jpg\",\"contentUrl\":\"https:\\\/\\\/ml.globenewswire.com\\\/media\\\/bbeab455-1216-4bad-9ee1-ddc95574d16e\\\/small\\\/spx-logo-horizontal-rgb-2-jpg.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/spx.com\\\/spx-reports-second-quarter-2021-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/spx.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SPX Reports Second Quarter 2021 Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/spx.com\\\/#website\",\"url\":\"https:\\\/\\\/spx.com\\\/\",\"name\":\"SPX Technologies in Charlotte, NC\",\"description\":\"SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets.\",\"publisher\":{\"@id\":\"https:\\\/\\\/spx.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/spx.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/spx.com\\\/#organization\",\"name\":\"SPX Corporation\",\"url\":\"https:\\\/\\\/spx.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-CA\",\"@id\":\"https:\\\/\\\/spx.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/live-spx-corp.pantheonsite.io\\\/wp-content\\\/uploads\\\/2018\\\/03\\\/SPX_LOGO_R_Vertical_RGB_480px.png\",\"contentUrl\":\"https:\\\/\\\/live-spx-corp.pantheonsite.io\\\/wp-content\\\/uploads\\\/2018\\\/03\\\/SPX_LOGO_R_Vertical_RGB_480px.png\",\"width\":389,\"height\":480,\"caption\":\"SPX Corporation\"},\"image\":{\"@id\":\"https:\\\/\\\/spx.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/spx.com\\\/#\\\/schema\\\/person\\\/0c386f66d333558caedba0b782977aa7\",\"name\":\"DNS Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-CA\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/94f546c479ce02133045a0f33d4504c6576ab6860c521f995bfcb4181fb9df3f?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/94f546c479ce02133045a0f33d4504c6576ab6860c521f995bfcb4181fb9df3f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/94f546c479ce02133045a0f33d4504c6576ab6860c521f995bfcb4181fb9df3f?s=96&d=mm&r=g\",\"caption\":\"DNS Admin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SPX Reports Second Quarter 2021 Results - SPX Technologies in Charlotte, NC","description":"SPX expands its Communications Technologies platform through a strategic acquisition \u2014 discover the details.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2021-results\/","og_locale":"fr_CA","og_type":"article","og_title":"SPX Reports Second Quarter 2021 Results - SPX Technologies in Charlotte, NC","og_description":"SPX expands its Communications Technologies platform through a strategic acquisition \u2014 discover the details.","og_url":"https:\/\/spx.com\/fr\/spx-reports-second-quarter-2021-results\/","og_site_name":"SPX Technologies in Charlotte, NC","article_published_time":"2025-07-22T18:28:33+00:00","article_modified_time":"2025-08-04T13:26:38+00:00","og_image":[{"url":"https:\/\/ml.globenewswire.com\/media\/bbeab455-1216-4bad-9ee1-ddc95574d16e\/small\/spx-logo-horizontal-rgb-2-jpg.jpg","type":"","width":"","height":""}],"author":"DNS Admin","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"DNS Admin","Estimation du temps de lecture":"22 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#article","isPartOf":{"@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/"},"author":{"name":"DNS Admin","@id":"https:\/\/spx.com\/#\/schema\/person\/0c386f66d333558caedba0b782977aa7"},"headline":"SPX Reports Second Quarter 2021 Results","datePublished":"2025-07-22T18:28:33+00:00","dateModified":"2025-08-04T13:26:38+00:00","mainEntityOfPage":{"@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/"},"wordCount":3705,"commentCount":0,"publisher":{"@id":"https:\/\/spx.com\/#organization"},"image":{"@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#primaryimage"},"thumbnailUrl":"https:\/\/ml.globenewswire.com\/media\/bbeab455-1216-4bad-9ee1-ddc95574d16e\/small\/spx-logo-horizontal-rgb-2-jpg.jpg","articleSection":["Earnings"],"inLanguage":"fr-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/","url":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/","name":"SPX Reports Second Quarter 2021 Results - SPX Technologies in Charlotte, NC","isPartOf":{"@id":"https:\/\/spx.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#primaryimage"},"image":{"@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#primaryimage"},"thumbnailUrl":"https:\/\/ml.globenewswire.com\/media\/bbeab455-1216-4bad-9ee1-ddc95574d16e\/small\/spx-logo-horizontal-rgb-2-jpg.jpg","datePublished":"2025-07-22T18:28:33+00:00","dateModified":"2025-08-04T13:26:38+00:00","description":"SPX expands its Communications Technologies platform through a strategic acquisition \u2014 discover the details.","breadcrumb":{"@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#breadcrumb"},"inLanguage":"fr-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/"]}]},{"@type":"ImageObject","inLanguage":"fr-CA","@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#primaryimage","url":"https:\/\/ml.globenewswire.com\/media\/bbeab455-1216-4bad-9ee1-ddc95574d16e\/small\/spx-logo-horizontal-rgb-2-jpg.jpg","contentUrl":"https:\/\/ml.globenewswire.com\/media\/bbeab455-1216-4bad-9ee1-ddc95574d16e\/small\/spx-logo-horizontal-rgb-2-jpg.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/spx.com\/spx-reports-second-quarter-2021-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/spx.com\/"},{"@type":"ListItem","position":2,"name":"SPX Reports Second Quarter 2021 Results"}]},{"@type":"WebSite","@id":"https:\/\/spx.com\/#website","url":"https:\/\/spx.com\/","name":"SPX Technologies in Charlotte, NC","description":"SPX Technologies est un fournisseur de produits et de technologies de haute technicit\u00e9, occupant une position de leader sur les march\u00e9s du CVC et de la d\u00e9tection et de la mesure.","publisher":{"@id":"https:\/\/spx.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/spx.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-CA"},{"@type":"Organization","@id":"https:\/\/spx.com\/#organization","name":"SPX Corporation","url":"https:\/\/spx.com\/","logo":{"@type":"ImageObject","inLanguage":"fr-CA","@id":"https:\/\/spx.com\/#\/schema\/logo\/image\/","url":"https:\/\/live-spx-corp.pantheonsite.io\/wp-content\/uploads\/2018\/03\/SPX_LOGO_R_Vertical_RGB_480px.png","contentUrl":"https:\/\/live-spx-corp.pantheonsite.io\/wp-content\/uploads\/2018\/03\/SPX_LOGO_R_Vertical_RGB_480px.png","width":389,"height":480,"caption":"SPX Corporation"},"image":{"@id":"https:\/\/spx.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/spx.com\/#\/schema\/person\/0c386f66d333558caedba0b782977aa7","name":"DNS Admin","image":{"@type":"ImageObject","inLanguage":"fr-CA","@id":"https:\/\/secure.gravatar.com\/avatar\/94f546c479ce02133045a0f33d4504c6576ab6860c521f995bfcb4181fb9df3f?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/94f546c479ce02133045a0f33d4504c6576ab6860c521f995bfcb4181fb9df3f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/94f546c479ce02133045a0f33d4504c6576ab6860c521f995bfcb4181fb9df3f?s=96&d=mm&r=g","caption":"DNS Admin"}}]}},"_links":{"self":[{"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/posts\/2334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/comments?post=2334"}],"version-history":[{"count":0,"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/posts\/2334\/revisions"}],"wp:attachment":[{"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/media?parent=2334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/categories?post=2334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/tags?post=2334"},{"taxonomy":"dipi_cpt_category","embeddable":true,"href":"https:\/\/spx.com\/fr\/wp-json\/wp\/v2\/dipi_cpt_category?post=2334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}