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Jun 30, 2024
Advanced Energy Q2 2024 Earnings Report
Second quarter financial results exceeded expectations, with sequential revenue growth in three of our four markets.
Key Takeaways
Advanced Energy reported Q2 2024 results with revenue at $364.9 million, GAAP EPS at $0.41, and non-GAAP EPS at $0.85. The company continues to work with customers to incorporate AE's technologies and execute its manufacturing consolidation plan.
Revenue was $364.9 million, at the higher end of guidance.
GAAP EPS from continuing operations was $0.41, above the mid-point of guidance.
Non-GAAP EPS was $0.85, above the mid-point of guidance
The company expects to incur employment-related charges for severance, benefits expenses, payroll taxes, and facility exit costs.
Advanced Energy
Advanced Energy
Advanced Energy Revenue by Segment
Revenue by Segment
Semiconductor Equipment Revenue
CapyFin.comIndustrial and Medical Revenue
CapyFin.comData Center Computing Revenue
CapyFin.comTelecom and Networking Revenue
CapyFin.com Forward Guidance
Advanced Energy provided guidance for Q3 2024, with revenue expected to be $370 million +/- $20 million, GAAP EPS from continuing operations expected to be ($0.10) +/- $0.25, and non-GAAP EPS expected to be $0.90 +/- $0.25.
Positive Outlook
- Revenue is expected to be $370 million +/- $20 million.
- Stock-based compensation for non-GAAP EPS is expected to be 0.28
- Amortization of intangible assets for non-GAAP EPS is expected to be 0.19
- Restructuring, asset impairments, and other charges for non-GAAP EPS is expected to be 0.77
- Tax effects of excluded items for non-GAAP EPS is expected to be (0.24)
Challenges Ahead
- GAAP EPS from continuing operations is expected to be ($0.10) +/- $0.25.
- Non-GAAP EPS is expected to be $0.90 +/- $0.25.
- GAAP earnings per share is expected to be $(0.35) on the low end
- Tax effects of excluded items is expected to be (0.24)
- Stock-based compensation, Amortization of intangible assets and Restructuring, asset impairments are negative factors for the company
Revenue & Expenses
Visualization of income flow from segment revenue to net income