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SPXC SPX

SPX Corporation is, along with its subsidiaries, a diversified, global supplier of infrastructure equipment with scalable growth platforms in heating, ventilation and air conditioning (HVAC), detection and measurement, and engineered solutions. With operations in 17 countries and approximately $1.4 billion in annual revenue, the company offers a wide array of highly engineered products with strong brands.

Company profile

Ticker
SPXC
Exchange
Website
CEO
Eugene Lowe
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
381016240

SPXC stock data

(
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Calendar

6 May 21
14 Jun 21
31 Dec 21
Quarter (USD)
Apr 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from SPX earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 106.9M 106.9M 106.9M 106.9M 106.9M 106.9M
Cash burn (monthly) (positive/no burn) 4.68M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 11.11M n/a n/a n/a n/a
Cash remaining n/a 95.79M n/a n/a n/a n/a
Runway (months of cash) n/a 20.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 May 21 Oleary Patrick J Common Stock Grant Aquire A No No 0 2,068 0 34,051
11 May 21 David A Roberts Common Stock Grant Aquire A No No 0 2,068 0 34,051
11 May 21 Puckett Rick D Common Stock Grant Aquire A No No 0 2,068 0 34,051
11 May 21 Toth Robert B Common Stock Grant Aquire A No No 0 2,068 0 18,350

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

10.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1 173 -99.4%
Opened positions 0 173 EXIT
Closed positions 172 0 NEW
Increased positions 1 0 NEW
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 299.27M 2.47B -87.9%
Total shares 4.86M 42.55M -88.6%
Total puts 0 13.2K EXIT
Total calls 0 10.7K EXIT
Total put/call ratio 1.2
Largest owners
Shares Value Change
APG Asset Management US 4.86M $299.27M +39.6%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 0 -6.43M EXIT
Wellington Management 0 -4.67M EXIT
Vanguard 0 -4.25M EXIT
APG Asset Management 0 -3.47M EXIT
FMR 0 -2.11M EXIT
IPXAF Impax Asset Management 0 -2.08M EXIT
Dimensional Fund Advisors 0 -2M EXIT
ACR Alpine Capital Research 0 -1.87M EXIT
APG Asset Management US 4.86M +1.38M +39.6%
STT State Street 0 -1.31M EXIT

Financial report summary

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Competition
DoverCboe Global Markets
Risks
  • We are subject to potential liability relating to claims, complaints and proceedings, including those relating to asbestos, environmental, product liability and other matters.
  • Many of the markets in which we operate are cyclical or are subject to industry events, and our results have been and could be affected as a result.
  • Our business depends on capital investment and maintenance expenditures by our customers.
  • The fact that we outsource various elements of the products and services we sell subjects us to the business risks of our suppliers and subcontractors, which could have a material adverse impact on our operations.
  • Our technology is important to our success, and failure to develop new products or make the appropriate investment in technology advancements may result in the loss of any sustainable competitive advantage in products, services and processes.
  • Failure to protect or unauthorized use of our intellectual property may harm our business.
  • Cost overruns, inflation, delays and other risks could significantly impact our results, particularly with respect to fixed-price contracts.
  • Our current and planned products may contain defects or errors that are detected only after delivery to customers. If that occurs, our reputation may be harmed and we may face additional costs.
  • Governmental laws and regulations could negatively affect our business.
  • Difficulties presented by domestic economic, political, legal, accounting and business factors could negatively affect our business.
  • Worldwide economic conditions could negatively impact our businesses.
  • Our non-U.S. revenues and operations expose us to numerous risks that may negatively impact our business.
  • Our failure to successfully complete acquisitions could negatively affect us.
  • We may not achieve the expected cost savings and other benefits of our acquisitions.
  • Dispositions or liabilities retained in connection with dispositions could negatively affect us.
  • The loss of key personnel and an inability to attract and retain qualified employees could have a material adverse effect on our operations.
  • We are subject to work stoppages, union negotiations, labor disputes and other matters associated with our labor force, which may adversely impact our operations and cause us to incur incremental costs.
  • Our indebtedness may affect our business and may restrict our operating flexibility.
  • We may not be able to finance future needs or adapt our business plan to react to changes in economic or business conditions because of restrictions placed on us by our senior credit facilities and any existing or future instruments governing our other indebtedness.
  • Credit and counterparty risks could harm our business.
  • Changes in tax laws and regulations or other factors could cause our income tax obligations to increase, potentially reducing our net income and adversely affecting our cash flows.
  • If the fair value of any of our reporting units is insufficient to recover the carrying value of the goodwill and other intangibles of the respective reporting unit, a material non-cash charge to earnings could result.
  • Cost reduction actions may affect our business.
  • Changes in key estimates and assumptions related to our defined benefit pension and postretirement plans, such as discount rates, assumed long-term return on assets, assumed long-term trends of future cost, and accounting and legislative changes, as well as actual investment returns on our pension plan assets and other actuarial factors, could affect our results of operations and cash flows.
  • Provisions in our corporate documents and Delaware law may delay or prevent a change in control of our company, and accordingly, we may not consummate a transaction that our stockholders consider favorable.
  • Increases in the number of shares of our outstanding common stock could adversely affect our common stock price or dilute our earnings per share.
  • The Spin-Off may expose us to potential liabilities arising out of state and federal fraudulent conveyance laws and legal dividend requirements.
Management Discussion
  • ITEM 7. Management’s Discussion and Analysis of Financial Condition
  • As further discussed below, the COVID-19 pandemic had a modest adverse impact on our consolidated results of operations during 2020. This impact is primarily evident in the decline in revenues at certain of our businesses due to a reduction in customer demand and order delays. These adverse impacts could continue during 2021. Although certain of our businesses have been, and could be, impacted more than others in our portfolio, we believe that our diverse set of businesses, along with our strong balance sheet and available liquidity, position us well to manage the potential adverse impacts of the COVID-19 pandemic. For example, the products we manufacture and services we provide fall under the definition of “critical” or “essential” under various federal guidelines and state/local governmental orders that otherwise restrict business activities. These include products and services that enable the operation and maintenance of communication networks, the electrical grid, water and wastewater systems, and other key elements of infrastructure. Our manufacturing facilities have not experienced material interruptions in operations. If incidents of the COVID-19 pandemic increase, we may temporarily close facilities, if necessary, to address employee safety matters. In terms of liquidity, we generated $131.1 of cash flows from operating activities associated with continuing operations during 2020 and have experienced no consequential delays in collecting outstanding amounts due from our customers. In addition, as of December 31, 2020, we had over $350.0 of availability from cash on-hand and aggregate borrowing capacity under our senior credit facilities and trade receivable financing arrangement. Lastly, scheduled repayments over the next twelve months for our long-term debt arrangements totaled only $7.2 as of December 31, 2020. We also have taken actions to manage near-term costs and cash flows, including reducing discretionary expenses, and implemented actions to address potential material sourcing challenges. We will continue to assess the actual and expected impacts of the COVID-19 pandemic and the need for further actions.
  • See Notes 2 and 10 to our consolidated financial statements and “Risk Factors” for additional considerations regarding the current and potential impacts of the COVID-19 pandemic.
Content analysis
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