Exhibit 99.1 
SPX Reports Fourth Quarter and Full-Year 2019 Results

Q4 and Full-Year 2019 GAAP EPS of $0.75 and $1.67
Q4 and Full-Year 2019 Adjusted EPS* of $0.96 and $2.76
Introducing 2020 Full-Year Adjusted EPS* Guidance Range of $2.90-$3.05

CHARLOTTE, N.C., February 13, 2020 /Globe Newswire/ — SPX Corporation (NYSE:SPXC) today reported results for the fourth quarter and the year ended December 31, 2019.

Gene Lowe, President and CEO, remarked, “2019 was another milestone year for our company with several notable accomplishments that reflect the hard work and effort of our team. For the fourth year in a row SPX reported significant growth in adjusted EPS and free cash flow. We also completed three attractive, strategic acquisitions, including the fourth quarter purchase of Patterson-Kelley, within our HVAC segment, which accelerates our growth and strengthens our market position in commercial high efficiency boilers.”

Mr. Lowe commented further, “SPX is well positioned to continue delivering on our value creation framework. Our significant after-market and replacement revenue, and steady end-market drivers provide a stable platform for further earnings growth and strong cash generation. Our focus on successful new product introductions and channel initiatives continues to yield organic growth, while our business system drives operational improvements across the company. Additionally, our strong balance sheet and substantial capital availability support further strategic investments to enhance and accelerate our value creation strategy.”

Fourth Quarter 2019 Overview:

For the fourth quarter of 2019, the company reported revenue of $444.6 million and operating income of $51.0 million, compared with revenue of $445.0 million and operating income of $52.2 million in the fourth quarter of 2018. Diluted per share income from continuing operations attributable to SPX Corporation in the fourth quarter of 2019 was $0.75, compared with a net income per share of $0.88 in the fourth quarter of 2018.

SPX’s adjusted revenue* was $445.1 million and adjusted operating income* was $62.6 million, compared with adjusted revenue* of $428.6 million and adjusted operating income* of $60.4 million in the fourth quarter of 2018. Adjusted income per share* in the fourth quarter of 2019 was $0.96, compared with $0.91 in the fourth quarter of 2018.

Full-Year 2019 Overview:

For the full-year 2019, the company reported revenue of $1.5 billion and operating income of $107.9 million, compared with revenue of $1.5 billion and operating income of $107.6 million in 2018. Diluted per share income from continuing operations in 2019 was $1.67, compared with $1.75 in 2018.

SPX’s adjusted revenue* for 2019 was $1.5 billion and adjusted operating income* was $172.3 million, compared with adjusted revenue* of $1.4 billion and adjusted operating income* of $146.2 million in 2018. Adjusted income per share* in 2019 was $2.76, compared with $2.27 in 2018.











The following information was filed by Spx Corp (SPXC) on Thursday, February 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Spx Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Spx Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account