SPX (NYSE:SPXC) reported its Q1 earnings results on Wednesday, May 4, 2022 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
SPX beat estimated earnings by 17.65%, reporting an EPS of $0.4 versus an estimate of $0.34.
Revenue was down $91.40 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.05 which was followed by a 1.69% drop in the share price the next day.
Here's a look at SPX's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.83 | 0.44 | 0.46 | 0.66 |
| EPS Actual | 0.88 | 0.41 | 0.49 | 0.68 |
| Revenue Estimate | 358.47M | 295.02M | 318.60M | 390.45M |
| Revenue Actual | 350.00M | 285.80M | 296.70M | 398.50M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
SPX management provided guidance for FY 2022, expecting earnings between $2.55 and $2.85 per share.
To track all earnings releases for SPX visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
