Advanced Energy Industries, Inc. ( (AEIS) ) has realeased its Q3 earnings. Here is a breakdown of the information Advanced Energy Industries, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Advanced Energy Industries, Inc. is a leading global provider of precision power conversion, measurement, and control solutions for critical applications across various industries, including semiconductor equipment and data center computing.
In its third quarter earnings report for 2024, Advanced Energy Industries, Inc. announced a revenue of $374.2 million, surpassing the midpoint of its guidance range. The company reported a GAAP loss per share of $0.38, primarily attributed to the closure of a production site in China, while its non-GAAP earnings per share stood at $0.98, also above the guided midpoint.
Key financial metrics reveal a GAAP net loss of $14.1 million, influenced by a $28.5 million restructuring charge linked to manufacturing consolidation. However, non-GAAP net income was reported at $37.0 million. The company generated a cash flow of $35.4 million from continuing operations and strategically amended its credit agreement to enhance its financial flexibility by increasing the senior unsecured revolving facility to $600 million.
Looking ahead, Advanced Energy is optimistic about its future, with revenue guidance for the fourth quarter set at $392 million, plus or minus $20 million. The company’s focus remains on innovation and streamlining operations to drive market share gains and improve gross margins.
