00:30 SPX up 9% post Q4 results; provides FY19 guidance - SPX Corporation (NYSE:SPXC)
SPX (SPXC +9.5%) reported Q4 revenue growth of 15% Y/Y to $445M; and Adj. revenue of $428.7M (+13% Y/Y).
HVAC results: Revenues $182.7M (+13.3% Y/Y); and operating margin of 20.4% up by 390 bps.
Detection & Measurement results: Revenues $96.4M (+28% Y/Y); and operating margin of 25.6% up by 120 bps.
Engineered Solutions results: Revenues $149.1M (+4.4% Y/Y); and operating margin of 7.6% down by 90 bps.
Q4 Overall operating margin improved by 1020 bps to 11.7%; and adj. operating income improve by 350 bps to 13.8%.
Q4 Segment income was $70.9M (+189.4% Y/Y) and margin improved by 960 bps to 15.9%.
Net cash from operating activities for the quarter was $97.3M, compared to $56.3M a year ago.
Company has consolidated cash and equivalents of $68.8M, as of December 31, 2018.
FY19 Guidance: Revenue ~$1.5B; adj. segment income margin of ~15%; Adj. operating margin of ~11%; and Adj. EPS of $2.5-$2.65.
Previously: SPX beats by $0.05, beats on revenue (Feb. 14)
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