SPX (NYSE: SPW) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict SPX's revenues will contract -0.5% and EPS will compress -14.1%.

The average estimate for revenue is $1.25 billion. On the bottom line, the average EPS estimate is $0.67.

Revenue details
 Last quarter, SPX notched revenue of $1.13 billion. GAAP reported sales were 1.7% lower than the prior-year quarter's $1.15 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.26. GAAP EPS of $0.04 for Q1 were 85% lower than the prior-year quarter's $0.26 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 26.6%, 10 basis points better than the prior-year quarter. Operating margin was 2.2%, much about the same as the prior-year quarter. Net margin was 0.2%, 100 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $5.10 billion. The average EPS estimate is $4.35.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 171 members out of 183 rating the stock outperform, and 12 members rating it underperform. Among 48 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give SPX a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SPX is outperform, with an average price target of $85.25.

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