Advanced Energy Q4 revenue $405M, non-GAAP EPS $1.24; guides Q1 revenue ~$350M

ADVANCED ENERGY INDUSTRIES INC

2023-FY EPS reported $3.40 revenue$1,655,810,000

Q4 revenue $405.3M (-17% YoY); GAAP EPS $1.01 (incl. $25.6M tax benefit), non-GAAP EPS $1.24 vs $1.70 YoY.
FY 2023 revenue $1.66B (-10% YoY); record Industrial & Medical sales $474M (+11%); GAAP EPS $3.46, non-GAAP EPS $4.88.
Record operating cash flow from continuing ops $213M in 2023; cash and equivalents $1.0B at year-end.
Q1 2024 guidance: revenue $350M ±$15M, GAAP EPS $0.29 ±$0.20, non-GAAP EPS $0.70 ±$0.20.
CEO notes sluggish near-term but expects demand strengthening through 2024; next-gen platforms and design wins.

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 the quarter ended December 31, 2023 results: revenue $405.3 million, net income $37.9 million or $1.01 per diluted share, EPS $1.01 per diluted share.

Period: the quarter ended December 31, 2023
Revenue: $405.3 million
Net income: $37.9 million or $1.01 per diluted share
EPS: $1.01 per diluted share
Result: reported results

Exact text from the filing

Form 8-K as Exhibit 99.1. --- EX-99.1 (EX-99.1) --- Exhibit 99.1 Financial News Release Advanced Energy Reports Fourth Quarter and Full Year 2023 Results ● Q4 revenue was $405 million, in line with the mid-point of guidance ● Q4 GAAP EPS from continuing operations was $1.01; Q4 Non-GAAP EPS was $1.24, above the mid-point of guidance ● 2023 revenue was $1.66

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ADVANCED ENERGY INDUSTRIES INC reported the year ended December 31, 2023 results: revenue $1.66 billion, net income $130.7 million or $3.46 per diluted share, EPS $3.46 per diluted share.

Period: the year ended December 31, 2023
Revenue: $1.66 billion
Net income: $130.7 million or $3.46 per diluted share
EPS: $3.46 per diluted share
Result: reported results

Exact text from the filing

million, in line with the mid-point of guidance ● Q4 GAAP EPS from continuing operations was $1.01; Q4 Non-GAAP EPS was $1.24, above the mid-point of guidance ● 2023 revenue was $1.66 billion, with sales in the Industrial and Medical market growing 11% to a record $474 million ● 2023 GAAP EPS from continuing operations was $3.46; 2023 Non-GAAP EPS was $4.88 ● 2023

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Source: SEC EDGAR

accession 0001558370-24-000810

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