CHARLOTTE, N.C. (AP) 鈥� CHARLOTTE, N.C. (AP) 鈥� SPX Technologies, Inc. (SPXC) on Thursday reported first-quarter net income of $59.9 million.
The Charlotte, North Carolina-based company said it had profit of $1.19 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.69 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The infrastructure equipment supplier posted revenue of $566.8 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $553.1 million.
SPX Technologies expects full-year earnings in the range of $7.75 to $8.15 per share, with revenue in the range of $2.58 billion to $2.65 billion.
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