Second-quarter revenue, earnings up for SPX
07/30/2014 10:36 AM
07/30/2014 10:38 AM
Second-quarter earnings and revenue rose for Charlotte-based diversified manufacturer SPX Corp.
Revenue for the second quarter increased 1.5 percent to $1.18 billion, up from $1.16 billion in the same quarter last year, the company reported Wednesday.
Net income for the quarter rose to $51.2 million, or $1.17 per diluted share, compared with $45.2 million, or 98 cents per diluted share in the year-ago quarter.
“SPX had a very good first half of 2014,” said Chris Kearney, president and CEO. “Order trends across our short cycle businesses are healthy and we are seeing strong quoting activity for large projects.”
SPX, based in Ballantyne, makes a wide range of equipment, including food and beverage systems, electricity and vehicle services, and power transformers for utility companies. The Fortune 500 company operates globally with more than 14,000 employees.
Editor's Choice Videos
Join the Discussion
Charlotte Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.