Manufacturing equipment and systems provider Advanced Energy (NASDAQ: AEIS) will be announcing earnings results this Monday after the bell. Here’s what you need to know.
Advanced Energy beat analysts’ revenue expectations last quarter, reporting revenues of $489.4 million, up 17.8% year on year. It was an exceptional quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ adjusted operating income estimates.
Is Advanced Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Advanced Energy’s revenue to grow 25.1% year on year, improving from the 23.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Advanced Energy rarely misses Wall Street’s revenue estimates.
Looking at Advanced Energy’s peers in the electronic components 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 17.2%, beating analysts’ expectations by 3.3%, and Belden reported revenues up 11.4%, topping estimates by 1.9%. Bel Fuse traded up 6.1% following the results while Belden was down 10.5%.
Read our full analysis of Bel Fuse’s results here and Belden’s results here.
There has been positive sentiment among investors in the electronic components segment, with share prices up 9.4% on average over the last month. Advanced Energy is up 18.3% during the same time and is heading into earnings with an average analyst price target of $346.67 (compared to the current share price of $392.51).
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