SPX Technologies Q2 FY2026 Earnings Call

Thank you, operator. Good afternoon, everyone. Thanks for joining us. With me on the call today is Gene Lowe, our President and Chief Executive Officer, and Mark Carano, our Chief Financial Officer. The press release containing our second quarter results was issued today after market close. You can find the release and our earnings slide presentation, as well as a link to a live webcast of this call in the news section of our website at spx.com. I encourage you to review our disclosure and discussion of GAAP…

Thanks, Johann. Good afternoon, everyone. Thank you for joining us. On the call today, we'll provide you with an update on our consolidated and segment results for the second quarter of 2026, as well as an update on our full-year outlook. We had a strong second quarter with year-over-year growth in adjusted EBITDA of 20% and adjusted EPS of 22%. Looking at our value creation initiatives. Organically, we continue to advance our capacity expansion initiatives and now expect $1.1 billion of total data center capacity…

Thanks, Gene. Our second quarter results were strong. Year-over-year, adjusted EPS grew by 22% to $2.02. For the quarter, total company revenue increased 23% year-over-year, with 17% organic growth. Consolidated segment income grew by $31.3 million, or 23%, to $167.1 million, while consolidated segment margin remained at 24.6%. In our HVAC segment, revenue grew by 27.6% year-over-year, with 8.5% inorganic growth and a negligible FX tailwind. On an organic basis, revenue increased 18.9%, with double-digit growth in…

Thanks, Mark. Current market conditions continue to support our 2026 outlook, which implies 27% adjusted EBITDA growth. In HVAC, core end markets remain healthy, including robust demand for our data center solutions. Within Detection & Measurement, our run rate demand remains healthy while project-oriented businesses continue to see an active front…