Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $1,560 | $1,220 | $1,461 | $1,741 | $1,984 |
| Gross Profit | $124 | $129 | $162 | $670 | $799 |
| Operating Income | $132 | $74 | $51 | $222 | $308 |
| Net Income | $97 | $425 | $0 | $90 | $201 |
Over the five-year period, SPX TECHNOLOGIES, INC. experienced mixed trends in its key financial metrics. Revenue declined from USD 1,559.5 million in 2020 to USD 1,219.5 million in 2021 (a decline of roughly 22%), before rebounding to USD 1,460.9 million in 2022 and further to USD 1,741.2 million in 2023. The recovery continued into 2024, with revenues reaching USD 1,983.9 million, indicating robust growth in recent years. Gross profit figures reflect a similar trend: a modest starting value of USD 123.5 million in 2020 rose gradually to USD 162.2 million in 2022, then surged significantly to USD 670 million and USD 799.4 million in 2023 and 2024, respectively. The notable increase in gross profit in the last two years—especially compared to previous years with double-digit percentage increases—suggests improved operational efficiencies or a favorable shift in product mix and pricing strategies. Operating income and net income displayed more erratic behavior. Operating income declined from USD 132 million in 2020 to USD 73.7 million in 2021 before a further drop to USD 51 million in 2022, followed by marked recoveries to USD 221.9 million and USD 308.3 million in 2023 and 2024. Net income also saw a significant year-over-year volatility, with a dramatic surge from USD 97.2 million in 2020 to USD 425.4 million in 2021 before plummeting to nearly zero in 2022, and then modestly recovering to USD 89.9 million in 2023 and USD 200.5 million in 2024. Such swings, particularly the >20% changes year-over-year in both operating and net incomes, may be driven by shifts in cost structures, product mix, or market conditions affecting margins. Overall, while recent years show strong revenue and margin improvements, the volatility in net and operating incomes suggests that the company needs to stabilize its earnings consistency to ensure long-term financial sustainability within an evolving industry landscape.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.