Advanced Energy: Q2 Earnings Snapshot

August 3, 2022 GMT

DENVER (AP) _ Advanced Energy Industries Inc. (AEIS) on Wednesday reported second-quarter net income of $45 million.

The Denver-based company said it had net income of $1.19 per share. Earnings, adjusted for one-time gains and costs, were $1.44 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The maker of power-conversion products posted revenue of $440.9 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $402.2 million.

For the current quarter ending in October, Advanced Energy expects its per-share earnings to range from $1 to $1.60.

The company said it expects revenue in the range of $410 million to $460 million for the fiscal third quarter.

Advanced Energy shares have risen 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $92.87, a fall of roughly 10% in the last 12 months.

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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