SPX Corporation: What’s Driving Its Manufacturing Expansion and Data Center Momentum?

SPX Technologies reported a robust first quarter for 2026, marked by a 17.4% increase in revenue and a 23% growth in adjusted EBITDA compared to the previous year. Adjusted earnings per share rose 22% to $1.69, reflecting strong operational performance across both the HVAC and Detection & Measurement segments. The company raised its full-year adjusted EPS guidance to a midpoint of $7.95, anticipating continued momentum particularly from its data center cooling solutions and Detection & Measurement segment’s new product initiatives. Revenue growth was driven by both organic expansion and acquisitions. The HVAC segment experienced 22% revenue growth year-over-year, underpinned by 11.5% inorganic growth and 9.6% organic growth, despite a 40 basis point margin decline largely attributable to start-up costs related to capacity expansions. Segment backlog grew 38% organically, primarily fueled by data center demand. The Detection & Measurement segment’s revenue increased 8.