SPX Technologies (SPXC) stock surged 11.96% in the pre-market session on Wednesday, following the company's impressive fourth-quarter 2024 financial results and optimistic guidance for 2025. The strong performance was driven by robust demand across both its HVAC and Detection & Measurement segments.

For Q4 2024, SPX Technologies reported a 13.7% year-over-year increase in revenue and a 28.1% rise in adjusted EBITDA. The company's HVAC segment revenue grew 18.6%, boosted by the Ingenia acquisition and strong organic growth. The Detection & Measurement segment also witnessed solid organic growth of 4.2%.

Looking ahead, SPX Technologies provided an upbeat outlook for 2025, forecasting revenue between $2.13 billion and $2.19 billion, representing a growth of approximately 10% at the midpoint. The company also expects adjusted EBITDA to range from $460 million to $490 million, reflecting a 13% year-over-year increase at the midpoint of its guidance. Additionally, SPX Technologies received multiple analyst upgrades, with firms like Sidoti and Oppenheimer raising their ratings and price targets on the stock.