Advanced Energy Announces Fourth Quarter and Full Year 2020 Results
Advanced Energy Industries (Nasdaq: AEIS) reported robust financial results for Q4 and fiscal year 2020, achieving sales of $371.0 million in Q4, up from $338.3 million a year earlier. The company's net income for the same quarter was $41.9 million, translating to $1.09 per diluted share. For the full year, sales reached $1.42 billion, a significant 79% increase from 2019. Non-GAAP net income was $201.5 million or $5.23 per diluted share. The company aims for revenues between $350 million and $365 million in Q1 2021.
- Q4 2020 sales increased to $371.0 million, surpassing $338.3 million in Q4 2019.
- Annual sales grew 79% to $1.42 billion compared to $788.9 million in 2019.
- Q4 2020 non-GAAP net income reached $57.3 million or $1.49 per diluted share.
- Operating cash generated was $67.1 million in Q4 and $202.2 million for the entire year.
- Company ended 2020 with $483.0 million in cash and marketable securities.
- Q4 2020 sales declined from $389.5 million in Q3 2020.
- GAAP net income in Q4 2020 decreased to $41.9 million from $45.6 million in Q3 2020.
Advanced Energy Industries, Inc. (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, today announced financial results for the fourth quarter and fiscal year ended December 31, 2020.
“Advanced Energy delivered a strong quarter and finish to the year, driven by our outstanding execution and robust demand for our industry-leading products and solutions,” said President and CEO Yuval Wasserman. “During 2020, we executed our growth strategy as a pure play power leader, exceeded our synergy goals, introduced many new products across our markets, and delivered record financial results. Despite operating in a challenging environment, Advanced Energy exits the year stronger than ever and is well-positioned to capitalize on our many growth opportunities.”
Fourth Quarter Results
Sales were
GAAP net income from continuing operations was
Non-GAAP net income was
A reconciliation of non-GAAP measures is provided in the tables below.
The company generated
Full Year 2020 Results
Sales were
GAAP net income from continuing operations was
Non-GAAP net income was
The company generated
Discontinued Operations
The company’s financial statements for all periods presented reflect results for the continuing precision power business, with the discontinued inverter business included in discontinued operations for all purposes. Further financial detail regarding the amounts related to the discontinued inverter business are available in the company’s 2020 Annual Report on Form 10-K.
First Quarter 2021 Guidance
Based on the company’s current view, beliefs and assumptions, guidance for the first quarter of 2021 is within the following ranges.
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Q1 2021 |
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GAAP EPS from continuing operations |
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FAQ
What were the fourth quarter results for AEIS in 2020?
AEIS reported sales of $371.0 million in Q4 2020, with a GAAP net income of $41.9 million.
How did AEIS perform in the full year 2020?
In 2020, AEIS achieved sales of $1.42 billion, a 79% increase from 2019.
What is AEIS's guidance for the first quarter of 2021?
AEIS expects revenues between $350 million and $365 million for Q1 2021.
What was AEIS's cash position at the end of 2020?
AEIS ended 2020 with $483.0 million in cash and marketable securities.
Advanced Energy Industries Inc
NASDAQ:AEISAEIS RankingsAEIS Latest NewsAEIS Stock Data
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6.75%
Electrical Equipment & Parts
Electronic Components, Nec
United States of America
DENVER
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