On this page of StockholderLetter.com we present the latest annual shareholder letter from SPX Technologies, Inc. — ticker symbol SPXC. Reading current and past SPXC letters to shareholders can bring important insights into the investment thesis.

 •  3/31/2026 Letter Continued (Full PDF)
 •  3/28/2023 SPXC Stockholder Letter
 •  4/4/2024 SPXC Stockholder Letter
 •  4/3/2025 SPXC Stockholder Letter
 •  More "Industrial Machinery & Equipment" Category Stockholder Letters
 •  SPXC Benford's Law Stock Score = 88

SPXC Shareholder/Stockholder Letter Transcript:

TECHNOLOGIES
ANTICIPATE. INNOVATE. ACHIEVE.
CELEBRATING A DECADE OF EXCELLENCE.
2025 ANNUAL REPORT

YE
OF
EX
2015
2016
SPX Corporation completed the
spin-off of the Flow Technology
segment (the Spin) creating two
stand-alone publicly traded
companies: SPX FLOW and
SPX Corporation.
SPX Corporation divested the
Dry Cooling and Balcke-D  rr
businesses within its Engineered
Solutions segment, reinforcing its
strategic emphasis on the highergrowth HVAC and Detection &
Measurement markets.
SPX Corporation was organized
into three segments: HVAC,
Detection & Measurement and
Engineered Solutions.
2022
2021
Adopted the name SPX Technologies
to reflect our commitment to
leveraging technology solutions.
Expanded the Aids to
Navigation platform with
the acquisition of Sealite.
Acquired International Tower
Lighting (ITL) enhancing the
Aids to Navigation platform.
Acquired Enterprise Control
Systems (ECS) which, when
combined with TCI, formed our
Communication Technologies
(CommTech) platform.
Acquired Cincinnati Fan,
our first Engineered
Air Movement business.
Divested the remaining
business in our Engineered
Solutions segment, SPX
Transformer Solutions.
2023
2024
Acquired TAMCO and ASPEQ, further
expanding our technologies in the Cooling
and Heating platforms, respectively.
SPX TECHNOLOGIES
Acquired Ing  nia Technologies
adding key new solutions to
our Engineered Air Movement
solutions within our Cooling
platform.

EARS
2017
2018
SPX Corporation held its
first Investor Day, in which
leadership outlined its
strategic direction and
value creation framework.
2020
The company completed its first
post-spin acquisitions: Schonstedt
Instrument Company and CUES.
These two acquisitions added
significant scale to the Location
and Inspection platform.
2019
Expanded the Location and
Inspection platform with
the acquisitions of ULC
Technologies and Sensors
& Software.
Acquired Sabik Marine to strengthen
our Aids to Navigation platform.
XCEL
Acquired SGS Refrigeration and
Patterson-Kelley, expanding our Cooling
and Heating platforms, respectively.
2025
Acquired Kranze Technology Solutions (KTS) advancing scale
and key capabilities in our CommTech platform.
Expanded the Heating platform with the acquisition of Sigma & Omega.
Celebrated 10 years of excellence following the Spin.
10 YEARS OF EXCELLENCE
2025 ANNUAL REPORT

SPX TECHNOLOGIES
Business Segments
HVAC
Our HVAC segment offers cooling
towers, commercial and industrial
refrigeration products, engineered
air movement solutions, residential
and commercial boilers, and electric
heating systems. The combination
of our leading brands and our focus
on innovating to meet our customers   
expanding needs enables us to
deliver high-value-added products,
across a wide variety of end
markets, including commercial,
industrial, institutional, healthcare
and data center.
DETECTION &
MEASUREMENT
Our Detection & Measurement
segment provides specialized
underground location and
inspection equipment,
transportation systems, aids to
navigation, and communication
technologies products. We have
market-leading brands, with
scalable platforms and
technologies. Our value-creating
solutions make people   s lives
easier and safer, and enable our
customers to be more efficient.
SPX TECHNOLOGIES
A N T I C I PAT E . I N N O VAT E . A C H I E V E .

Revenue
$2.27B
33%
67%
Detection &
Measurement
HVAC
Consolidated Segment Income *
$549M
32%
68%
Detection &
Measurement
HVAC
* Non-GAAP financial measure. Reconciliations from US GAAP financial measures are available
in the reconciliations on page 126 of this report.
C E L E B R AT I N G A D E C A D E O F E X C E L L E N C E .
|| 0 1 ||
2025 ANNUAL REPORT

3/31/2026 Letter Continued (Full PDF)

 

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.