Advanced Energy Q3 revenue $374.2M beats midpoint; GAAP loss $0.38 on $28.5M restructuring charge

ADVANCED ENERGY INDUSTRIES INC

2024-Q3 EPS reported $0.14 revenue$1,066,639,000

Non-GAAP EPS of $0.98 beat guidance midpoint; GAAP loss per share $0.38 due to China site closure charge.
Revenue $374.2M, up 2.5% QoQ but down 8.7% YoY; Q4 guidance $392M +/- $20M.
Amended credit agreement: increased revolver capacity by $400M to $600M; repaid $345M term loan.
Cash flow from ops $35.4M; paid $3.9M in dividends and repurchased $1.8M in stock.
Non-GAAP Q4 EPS guided $1.08 +/- $0.25; GAAP EPS $0.47 +/- $0.29.

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