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Wed. 4 May 2022, 5:54pm ET Benzinga Earnings

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.