Advanced Energy Q3 rev $410M, GAAP EPS $0.89; record cash flow $73M; guidance Q4 rev ~$405M

ADVANCED ENERGY INDUSTRIES INC

2023-Q3 EPS reported $2.40 revenue$1,250,539,000

Revenue $410.0M (down 1.3% QoQ, down 21% YoY); GAAP EPS $0.89 (up from $0.73 QoQ, down from $1.99 YoY).
Non-GAAP EPS $1.28, above guidance mid-point; record operating cash flow from continuing ops of $72.7M.
Completed $575M private offering of 2.50% convertible notes due 2028; repurchased $40M of common stock.
Paid $3.8M in quarterly dividends; total cash at quarter-end $985.9M.
Q4 2023 guidance: revenue $405M ±$15M; GAAP EPS $0.69 ±$0.20; non-GAAP EPS $1.15 ±$0.20.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ADVANCED ENERGY INDUSTRIES INC reported third quarter ended September 30, 2023 results: revenue Revenue was $410.0 million, net income Non-GAAP net income was $48.5 million, EPS $1.28 per diluted share.

Period: third quarter ended September 30, 2023
Revenue: Revenue was $410.0 million
Net income: Non-GAAP net income was $48.5 million
EPS: $1.28 per diluted share
Result: reported results

Exact text from the filing

Sales were $410.0 million in the third quarter of 2023, compared with $415.5 million in the second quarter of 2023 and $516.3 million in the third quarter of 2022. GAAP net income from continuing operations was $33.7 million or $0.89 per diluted share in the quarter, compared with $27.5 million or $0.73 per diluted share in the prior quarter, and $74.9 million or $1.99 per diluted share a year ago.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Period: third quarter ended September 30, 2023
Revenue: Revenue was $410.0 million
Net income: Non-GAAP net income was $48.5 million
EPS: $1.28 per diluted share
Result: reported results

Exact text from the filing

with this Current Report on Form 8-K as Exhibit 99.1. --- EX-99.1 (EX-99.1) --- Financial News Release Advanced Energy Reports Third Quarter 2023 Results ● Revenue was $410 million, within the guidance range ● GAAP EPS was $0.89, above the mid-point of guidance ● Non-GAAP EPS was $1.28, above the mid-point of guidance ● Cash flow from continuing operations

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

ADVANCED ENERGY INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0001558370-23-017116

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