CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — SPX Technologies, Inc. (SPXC) on Tuesday reported fourth-quarter earnings of $77.9 million.
The Charlotte, North Carolina-based company said it had profit of $1.54 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.88 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.
The infrastructure equipment supplier posted revenue of $637.3 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $627.4 million.
For the year, the company reported profit of $244 million, or $5.03 per share. Revenue was reported as $2.27 billion.
SPX Technologies expects full-year earnings in the range of $7.60 to $8 per share, with revenue in the range of $2.54 billion to $2.61 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPXC at https://www.zacks.com/ap/SPXC
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