Advanced Energy Q2 revenue $364.9M beat guidance; GAAP EPS $0.41, non-GAAP EPS $0.85

ADVANCED ENERGY INDUSTRIES INC

2024-Q2 EPS reported $0.54 revenue$692,422,000

Revenue $364.9M, above guidance midpoint; GAAP EPS $0.41, non-GAAP EPS $0.85, both above midpoints.
Sequential revenue growth in three of four markets; YoY revenue down 12% from $415.5M in Q2 2023.
Q3 2024 guidance: revenue $370M ±$20M, non-GAAP EPS $0.90 ±$0.25; GAAP EPS expected loss of ($0.10).
Manufacturing consolidation plan continues; expects employment-related charges majority in Q3 2024.
Cash from operations $6.9M; paid $3.8M in quarterly dividends.

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