SPX (SPXC) Q1 2019 Earnings Call Transcript
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SPX (NYSE: SPXC)
Q1 2019 Earnings Call
May. 02, 2019, 4:45 p.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:


Operator

Good afternoon, ladies and gentlemen, and welcome to the Q1 2019 SPX Corporation earnings conference call. [Operator instructions] As a reminder, this conference call is being recorded. I would now like to turn the call -- conference over to your host, Mr. Paul Clegg, vice president of investor relations and communications.

Sir, the floor is yours.

Paul Clegg -- Vice President of investor Relations and Communications

Thank you, Danieta, and good afternoon, everyone. Thanks for joining us. With me on the call today are Gene Lowe, our president and chief executive officer; and Scott Sproule, our chief financial officer. A press release containing our first 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 Investor Relations section of our website at spx.com. I encourage you to review our disclosure and discussion of GAAP results in the press release and to follow along with the slide presentation during our prepared remarks. A replay of the webcast will be available on our website until May 9th. As a reminder, portions of our presentation and comments are forward-looking and subject to safe harbor provisions.

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Please also note, the risk factors in our most recent SEC filings. Our comments today will largely focus on adjusted financial results. You can find detailed reconciliations of adjusted figures to their respective GAAP measures in the appendix to today's presentation. As a reminder, our segment reporting structure combines the results of our Heat Transfer and South African operations into and All Other category, which is excluded from our adjusted results.

It is -- our intent is to report these entities as discontinued operations at such time as they meet the accounting requirements to do so. For the Heat Transfer business, we are targeting this to occur in the second quarter of 2019. For South Africa, we anticipate reaching substantial completion of our scope of work on the projects by the end of this year. Consistent with how we establish our guidance, our adjusted earnings per share also excludes non-service pension items, amortization expense, onetime costs associated with acquisitions, and a gain on the revaluation of an investment.