Manufacturing equipment and systems provider Advanced Energy (NASDAQ: AEIS) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
Advanced Energy beat analysts’ revenue expectations by 5.5% last quarter, reporting revenues of $415.4 million, up 2.5% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is Advanced Energy a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Advanced Energy’s revenue to grow 19.1% year on year to $390.1 million, a reversal from the 23% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Advanced Energy has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Advanced Energy’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bel Fuse delivered year-on-year revenue growth of 18.9%, beating analysts’ expectations by 1.6%, and FARO reported a revenue decline of 1.6%, topping estimates by 3.3%. Bel Fuse traded up 3.4% following the results while FARO was also up 19.4%.
Read our full analysis of Bel Fuse’s results here and FARO’s results here.
Investors in the electrical equipment segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Advanced Energy is up 3.2% during the same time and is heading into earnings with an average analyst price target of $124.50 (compared to the current share price of $98.40).
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