Advanced Energy Industries Inc reports results for the quarter ended in March - Earnings Summary

Advanced Energy Industries

02/05/2024 04:28

* Advanced Energy Industries Inc  AEIS.OQ  reported
quarterly
adjusted earnings of 58 cents​​ per share for the quarter ended
in March, lower than the same quarter last year, when the
company reported EPS of $1.24.  The mean expectation of
nine analysts for the quarter was for earnings of 67 cents per
share. Wall Street expected results to range from 58 cents to 70
cents per share.
    * Revenue fell 23% to $327.48 million from a year ago;
analysts
expected $351.78 million. 
    * Advanced Energy Industries Inc's reported EPS for the
quarter
was 14 cents​.
    * The company reported quarterly net income of $5.22
million.
    * Advanced Energy Industries Inc shares had fallen by 6.0%
this
quarter and lost 12.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 42%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "hold"

Wall Street's median 12-month price target for Advanced Energy
Industries Inc is $102.00 
This summary was machine generated from LSEG data May 2 at 03:27
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.67           0.58           Missed
 Dec. 31 2023      1.16           1.24           Beat
 Sep. 30 2023      1.14           1.28           Beat
 Jun. 30 2023      1.05           1.11           Beat