Advanced Energy Industries (AEIS) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $1.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.52%. A quarter ago, it was expected that this maker of power-conversion products would post earnings of $0.69 per share when it actually produced earnings of $0.85, delivering a surprise of 23.19%.Over ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-26966 dvanced ADVANCED ENERGY INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 84-08 ...

Exhibit 99.1 Financial News Release Advanced Energy Reports Third Quarter 2024 Results ● Revenue was $374.2 million, above the mid-point of guidance ● GAAP loss per share was $0.38, mainly due to closure of China production site ● Non-GAAP EPS was $0.98, above the mid-point of guidance ● Cash flow from continuing operations was $35.4 million DENVER, Colo., October 30, 2024 - Advanced Energy Industries, Inc. (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and co ...

Advanced Energy (AEIS) is expanding its footprint in the medical technology sector with the launch of the NCF150 series of high-isolation, low-leakage current AC-DC power supplies. Designed to meet the stringent cardiac floating (CF) requirements of the IEC 60601-1 medical safety standard, these power supplies are crucial for medical equipment that comes into direct contact with the heart, such as dialysis machines and electrosurgery platforms. With outputs up to 150 W, high efficiency and enhanced safety f ...

It has been about a month since the last earnings report for Advanced Energy Industries (AEIS) . Shares have lost about 8.4% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Advanced Energy due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Advanced Energy Q2 Earnings ...

Core Insights - Advanced Energy Industries (AEIS) reported a total revenue of $364.95 million for the quarter ending June 2024, reflecting a decrease of 12.2% compared to previous periods [2][5] International Revenue Breakdown - Europe generated $39.81 million, accounting for 10.9% of total revenue, which was below the consensus estimate of $43.57 million, marking a surprise of -8.62% [3] - Asia contributed $151.96 million, representing 41.6% of total revenue, exceeding expectations by +1.01% against the forecast of $150.43 million [3] - Other countries brought in $0.39 million, only 0.1% of total revenue, significantly missing the projected $2.45 million by -84.29% [4] Future Revenue Projections - Analysts predict total revenue of $379.9 million for the current fiscal quarter, indicating a decline of 7.3% year-over-year, with expected contributions from Europe at $46.59 million, Asia at $171.46 million, and Other countries at $0.96 million [5] - For the full year, total revenue is anticipated to be $1.47 billion, down 11% from the previous year, with Europe, Asia, and Other countries projected to contribute $180.34 million, $642.32 million, and $5.47 million respectively [5] Market Context - The company's international operations provide opportunities for growth but also expose it to risks such as currency fluctuations and geopolitical uncertainties [2][6] - The stock has declined by 10% over the past month, underperforming the Zacks S&P 500 composite, which fell by 6.7% during the same period [8]

pixelparticle/iStock via Getty Images When I last wrote about Advanced Energy Industries (NASDAQ:AEIS), I said that I expected Q1'24 to be the low point of the cycle for this supplier of power conversion and control systems, and that still appears to be the case. That said, key segments like Industrial are still seeing destocking and the rebound in semiconductor demand likely won't really hit until 2025. That leaves AEIS in something of a gray area as the business crawls along in the near term, but still of ...

Core Insights - Advanced Energy Industries (AEIS) reported non-GAAP earnings of 85 cents per share for Q2 2024, exceeding the Zacks Consensus Estimate by 23.19%, although this represents a 23.4% decline year-over-year [1] - Revenues for the quarter were $365 million, surpassing the Zacks Consensus Estimate by 5.74%, but down 12.1% year-over-year due to weakness in non-semi markets [1] Revenue Breakdown - **Semiconductor Equipment**: Revenues increased by 9% year-over-year to $188 million, accounting for 51.6% of total revenues, and exceeded the Zacks Consensus Estimate by 6.08% [2] - **Industrial & Medical**: Revenues fell 38% year-over-year to $79.1 million, representing 21.7% of total revenues, and lagged the Zacks Consensus Estimate by 8.68% [3] - **Data Center Computing**: Revenues rose 24% year-over-year to $73 million, making up 20% of total revenues, and beat the consensus mark by 23.82% [3][4] - **Telecom & Networking**: Revenues decreased 56% year-over-year to $24.56 million, which is 6.7% of total revenues, but exceeded the Zacks Consensus Estimate by 11.10% [4] Operating Results - Non-GAAP gross margin was 35.3%, down 26 basis points year-over-year [5] - Non-GAAP operating expenses were $95.1 million, a decrease of 3.5% year-over-year, but as a percentage of revenues, it increased by 230 basis points to 26.1% [5] - Non-GAAP operating margin contracted to 9.3%, down 260 basis points year-over-year [6] Balance Sheet & Cash Flow - As of June 30, 2024, cash and cash equivalents stood at $9.86 billion, a significant increase from $1.01 million as of March 31, 2024 [7] - Cash flow from operations was $6.9 million, down from $8 million in the previous quarter [7] - The company made dividend payments of $3.8 million during the quarter [7] Guidance - For Q3 2024, AEIS expects non-GAAP earnings of 90 cents per share (+/- 25 cents) and anticipates revenues of $370 million (+/- $20 million) [8] Market Position - AEIS currently holds a Zacks Rank 4 (Sell) and has seen its shares decline by 11.7% year-to-date, contrasting with a 7.6% growth in the Zacks Computer & Technology sector [9]

Financial Data and Key Metrics Changes - Second quarter revenue increased 11% sequentially to $365 million, exceeding guidance of $350 million, driven by strong demand in the data center market and pull-in of demand in the semiconductor market [17][18] - Gross margin was up slightly quarter-over-quarter to 35.3%, and operating margins improved by 270 basis points [17][19] - Earnings per share for the quarter were $0.85, compared to $0.58 in the previous quarter and $1.11 a year ago [21][17] Business Line Data and Key Metrics Changes - Semiconductor revenue was $188 million, up 5% sequentially and 9% year-over-year [19] - Industrial and medical revenue decreased 5% sequentially to $79 million and was down 38% year-over-year due to continued inventory destocking [19] - Data center computing revenue surged 74% quarter-over-quarter to $73 million, driven by strong demand for AI server power solutions [19] - Telecom and networking revenue increased slightly to $25 million quarter-over-quarter [19] Market Data and Key Metrics Changes - Strong demand in the data center market, particularly for AI applications, is expected to drive robust revenue levels for several quarters [12][19] - The semiconductor market is projected to see revenue similar to 2023, with expectations for the second half to be better than the first half [14][19] - Industrial and medical revenue is expected to remain under pressure through the third quarter and into the fourth, as channel and OEM inventories gradually return to normal levels [14][19] Company Strategy and Development Direction - The company is consolidating manufacturing sites to enhance operational productivity and lower fixed costs, aiming for gross margins over 40% by 2025 [9][18] - The acquisition of Airity Technologies is expected to accelerate innovation in high-density, high-voltage power applications [8][22] - The company is focused on leveraging new design wins and improving product mix to drive profitable revenue growth [14][26] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue levels higher in the second half of 2024 compared to the first half, despite some revenue pull-ins into the second quarter [13][14] - The company anticipates a gradual recovery in the semiconductor market, with expectations for an acceleration in the second half of 2025 [50][49] - Management highlighted the importance of customer perception and relationships in driving long-term growth [15][26] Other Important Information - The company expects to recognize $25 million to $30 million in one-time severance and exit costs related to the closure of its last factory in China [24] - Cash and cash equivalents at the end of the second quarter were $986 million, with net cash of $79 million [21][22] Q&A Session Summary Question: Visibility and trajectory in industrial/medical revenue - Management indicated that inventory is steadily declining in the distributor channel, and they expect to reach supply/demand balance by Q4 2024 or Q1 2025 [29][30] Question: Recovery in gross margin - Management confirmed that achieving a revenue target of $400 million in Q4 is still a reasonable expectation, with potential headwinds from product mix and transition costs [31][32][34] Question: Data center business visibility - Management believes the momentum in hyperscale will continue through at least Q1 or Q2 of next year, driven by AI applications [37][38] Question: Semiconductor bookings and backlog - Management noted that while semiconductor bookings are flattish, they expect growth in the second half of the year, with a gradual recovery anticipated [54][56] Question: Readiness to support customers - Management emphasized their strategic inventory investments and staffing levels to respond quickly to customer demand, indicating capacity to return to prior peak levels [62][65] Question: Long-term outlook for telecom and networking - Management acknowledged that the telecom market is not expected to grow significantly, but they will focus on marquee customers for reasonable returns [73][74]

Core Insights - Advanced Energy Industries (AEIS) reported revenue of $364.95 million for the quarter ended June 2024, a decrease of 12.2% year-over-year, with EPS at $0.85 compared to $1.11 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $345.14 million by 5.74%, while the EPS surpassed the consensus estimate of $0.69 by 23.19% [1] Revenue Breakdown - **Net Sales - Semiconductor Equipment**: Reported at $188.32 million, exceeding the average estimate of $177.53 million by analysts, representing an 8.7% increase year-over-year [3] - **Net Sales - Industrial & Medical**: Reported at $79.10 million, below the average estimate of $86.63 million, reflecting a significant year-over-year decline of 38% [4] - **Net Sales - Data Center Computing**: Reported at $72.96 million, surpassing the average estimate of $58.93 million, with a year-over-year increase of 23.5% [5] - **Net Sales - Telecom & Networking**: Reported at $24.56 million, exceeding the average estimate of $22.11 million, but showing a substantial year-over-year decline of 55.9% [6] Stock Performance - Shares of Advanced Energy have increased by 4.1% over the past month, outperforming the Zacks S&P 500 composite, which saw a change of 0.1% [6] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [6]