ADVERTISEMENT

Advanced Energy: Q1 Earnings Snapshot

May 4, 2022 GMT

DENVER (AP) _ Advanced Energy Industries Inc. (AEIS) on Wednesday reported first-quarter net income of $36.8 million.

On a per-share basis, the Denver-based company said it had net income of 97 cents. Earnings, adjusted for one-time gains and costs, were $1.24 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The maker of power-conversion products posted revenue of $397.5 million in the period.

For the current quarter ending in July, Advanced Energy expects its per-share earnings to range from 75 cents to $1.35.

The company said it expects revenue in the range of $370 million to $420 million for the fiscal second quarter.

Advanced Energy shares have declined slightly more than 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $83.44, a drop of 19% in the last 12 months.

ADVERTISEMENT

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEIS at https://www.zacks.com/ap/AEIS