Advanced Energy beats by $0.10, beats on revs; guides Q1 EPS in-line, revs in-line
4:04 PM ET 2/8/23 | Briefing.com
Reports Q4 (Dec) earnings of $1.70 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $1.60; revenues rose 23.6% year/year to $490.7 mln vs the $477.03 mln S&P Capital IQ Consensus. Co issues in-line guidance for Q1, sees EPS of $0.85-1.35, excluding non-recurring items, vs. $1.27 S&P Capital IQ Consensus; sees Q1 revs of $395-435 mln vs. $429.40 mln S&P Capital IQ Consensus."We delivered strong financial results in the fourth quarter, taking advantage of improved component availability and solid manufacturing execution," said Steve Kelley, president and CEO of Advanced Energy. "For the full year, we achieved record revenue and earnings, thanks to strong demand in all of our markets and improved execution across the company. Although we expect lower revenue in the near-term due to a downturn in the semiconductor equipment market, we anticipate a record level of design-in activity, leveraging our strong pipeline of technology-leading products."
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