CHARLOTTE, N.C. (AP) _ SPX Corp. (SPXC) on Thursday reported second-quarter profit of $27.1 million.
The Charlotte, North Carolina-based company said it had net income of 59 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, came to 64 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The infrastructure equipment supplier posted revenue of $373.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $347.7 million.
SPX shares have fallen 19% since the beginning of the year.