Advanced Energy Reports Fourth Quarter and Full Year 2024 Results

Rhea-AI Summary

Advanced Energy Industries (AEIS) reported Q4 2024 revenue of $415.4 million, exceeding guidance and showing growth from $374.2 million in Q3 2024 and $405.3 million in Q4 2023. Q4 GAAP EPS was $1.29, while non-GAAP EPS reached $1.30.

For full-year 2024, revenue was $1.48 billion, down 10% from $1.66 billion in 2023. The company generated $132.9 million in operating cash flow and ended the year with $722.1 million in cash. AEIS paid $15.4 million in dividends and repurchased $1.8 million of common stock at an average price of $93.58.

Looking ahead to Q1 2025, the company guides revenue of $392 million ±$20 million and non-GAAP EPS of $1.03 ±$0.25.

Positive

• Q4 revenue of $415.4 million exceeded guidance
• Q4 non-GAAP EPS increased to $1.30 from $0.98 in Q3
• Strong cash position with $722.1 million at year-end
• Generated $132.9 million in operating cash flow for 2024
• Reduced debt through $355.0 million term loan prepayment

Negative

• Full-year 2024 revenue declined 10% to $1.48 billion
• Full-year non-GAAP EPS decreased to $3.71 from $4.88 in 2023
• Q1 2025 revenue guidance suggests sequential decline

Insights

Financial Analyst

The Q4 2024 results reveal several important trends for Advanced Energy Industries. Revenue of $415.4 million represents an 11% sequential increase and 2.5% year-over-year growth, marking a return to positive territory. This recovery is particularly noteworthy in the semiconductor and data center computing segments, traditionally high-margin areas for AEIS.

The company's operational efficiency initiatives are bearing fruit, with the manufacturing consolidation program progressing despite a $28.5 million restructuring charge in Q3. The strong cash flow generation of $82.7 million in Q4 demonstrates robust operational execution, while the strategic decision to prepay $355.0 million of term loan debt strengthens the balance sheet and reduces interest expenses.

Looking ahead, the Q1 2025 guidance of $392 million (+/- $20 million) suggests some seasonal moderation but remains above trough levels. The projected Non-GAAP EPS of $1.03 indicates continued margin stability. The company's substantial cash position of $722.1 million provides strategic flexibility for potential market share gains as industry conditions improve.

The 10% year-over-year revenue decline in 2024 reflects broader industry challenges, but the sequential improvements and management's confidence in market share gains suggest a potential inflection point. The streamlined legal entity structure, resulting in a $15.0 million tax benefit, should drive improved tax efficiency in future periods.

• Q4 revenue was $415.4 million, above the high end of guidance
• Q4 GAAP EPS from continuing operations was $1.29; Q4 Non-GAAP EPS was $1.30, above the mid-point of guidance
• 2024 revenue was $1.48 billion
• 2024 GAAP EPS from continuing operations was $1.49; 2024 Non-GAAP EPS was $3.71
• 2024 cash flow from continuing operations was $132.9 million

DENVER--(BUSINESS WIRE)-- 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 year ended December 31, 2024.

“Fourth quarter results exceeded our guidance, with total revenue resuming year-over-year growth on better-than-expected demand in our semiconductor and data center computing markets,” said Steve Kelley, president and CEO of Advanced Energy. “Customers are embracing our best-in-class products, which we believe will drive meaningful share gains as markets recover.”

Quarter Results

Revenue was $415.4 million in the fourth quarter of 2024, compared with $374.2 million in the third quarter of 2024 and $405.3 million in the fourth quarter of 2023.

GAAP net income from continuing operations was $49.1 million or $1.29 per diluted share in the quarter, compared with GAAP net loss of $14.1 million or a loss of $0.38 per diluted share in the prior quarter, and GAAP net income of $37.9 million or $1.01 per diluted share a year ago.

GAAP net income in the fourth quarter included a one-time, net tax benefit of $15.0 million as a result of an intercompany transfer of assets as part of the company streamlining its legal entity structure. GAAP net loss in the third quarter reflected a $28.5 million restructuring charge as part of our previously announced manufacturing consolidation. GAAP net income in the fourth quarter of 2023 included a restructuring and impairment charge of $18.1 million as part of the factory and cost optimization plan and a tax benefit of $25.6 million as a result of the release of a deferred tax asset valuation allowance.

Non-GAAP net income was $49.4 million or $1.30 per diluted share in the fourth quarter of 2024. This compares with $37.0 million or $0.98 per diluted share in the third quarter of 2024, and $46.7 million or $1.24 per diluted share in the fourth quarter of 2023.

Advanced Energy generated $82.7 million in cash flow from continuing operations during the quarter and paid $3.8 million in quarterly dividends.

Full Year 2024 Results

2024 revenue was $1.48 billion, a 10% decrease from $1.66 billion in 2023.

GAAP net income from continuing operations was $56.3 million or $1.49 per diluted share in 2024, compared with $130.7 million or $3.46 per diluted share in 2023.

GAAP net income for the year included a one-time, net tax benefit of $15.0 million as a result of an intercompany transfer of assets as part of the company streamlining its legal entity structure and a $29.6 million restructuring charge as part of our previously announced manufacturing consolidation. GAAP net income in 2023 included a restructuring and impairment charge of $27.0 million as part of the factory and cost optimization plan and a tax benefit of $25.6 million as a result of the release of a deferred tax asset valuation allowance.

The Company generated $132.9 million in cash flow from operating activities from continuing operations, repurchased $1.8 million of common stock at an average price of $93.58, and paid $15.4 million in dividends. The Company used $355.0 million of cash on hand to prepay the term loan. At year-end, outstanding debt was $564.7 million, representing the 2028 convertible notes, net of unamortized issuance costs. Cash and equivalents at year-end were $722.1 million.

Non-GAAP net income was $140.3 million or $3.71 per diluted share in 2024. This compares with $184.0 million or $4.88 per diluted share in 2023.

A reconciliation of GAAP and non-GAAP measures is provided in the tables below.

First Quarter 2025 Guidance

Based on the Company’s current view, beliefs, and assumptions, guidance is within the following ranges:

	Q1 2025
Revenue	$392 million +/- $20 million
GAAP EPS from continuing operations	$0.48 +/- $0.25
Non-GAAP EPS	$1.03 +/- $0.25

Conference Call

Management will host a conference call today, February 12, 2025, at 2:30 p.m. Eastern Time to discuss the fourth quarter financial results. To participate in the live earnings conference call, please dial 877-407-0890 approximately ten minutes prior to the start of the meeting and an operator will connect you. International participants can dial +1-201-389-0918. A webcast will also be available on our investor web page at ir.advancedenergy.com in the Events & Presentations section. The archived webcast will be available approximately two hours following the end of the live event.

About Advanced Energy

Advanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking, and telecommunications. With engineering know-how and responsive service and support for customers around the globe, the Company builds collaborative partnerships to meet technology advances, propels growth of its customers, and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.

Advanced Energy | Precision. Power. Performance. Trust.

Non-GAAP Measures

This release includes measures, such as non-GAAP net income and non-GAAP earnings per share (“EPS”) that are not prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Management uses non-GAAP net income and non-GAAP EPS to evaluate business performance without the impacts of certain non-cash charges and other charges which are not part of our usual operations. We use these non-GAAP measures to assess performance against business objectives and make business decisions, including developing budgets and forecasting future periods. In addition, management’s incentive plans include these non-GAAP measures as criteria for achievements. These non-GAAP measures are not prepared in accordance with U.S. GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. However, we believe these non-GAAP measures provide additional information that enables readers to evaluate our business from the perspective of management. The presentation of this additional information should not be considered a substitute for results prepared in accordance with U.S. GAAP.

The non-GAAP results presented below exclude the impact of non-cash related charges, such as stock-based compensation, amortization of intangible assets, and long-term unrealized foreign exchange gains and losses. In addition, we exclude discontinued operations and other non-recurring items such as acquisition-related costs, facility expansion and related costs, and restructuring expenses, as they are not indicative of future performance. The tax effect of our non-GAAP adjustments represents the anticipated annual tax rate applied to each non-GAAP adjustment after consideration of their respective book and tax treatments.

Forward-Looking Statements

This press release and statements we make on the above announced conference call contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release or the conference call that are not historical information are forward-looking statements. For example, statements relating to our beliefs, expectations, and plans are forward-looking statements, as are statements that certain actions, conditions, or circumstances will continue. The inclusion of words such as "anticipate," "expect," "estimate," "can," "may," "might," "continue," "enables," "plan," "intend," "should," "could," "would," "likely," "potential," or "believe," and similar expressions and the negative versions thereof indicate forward-looking statements; however, not all forward-looking statements may contain such words or expressions. These forward-looking statements are based upon information available as of the date of this press release and management’s current estimates, forecasts, and assumptions. Although we believe that our expectations reflected in or suggested by these forward-looking statements are reasonable, we may not achieve the results, performance, plans, or objectives expressed or implied by such forward-looking statements. Forward-looking statements involve risks and uncertainties, which are difficult to predict and many of which are beyond our control.

Risks and uncertainties to which our forward-looking statements are subject include, but are not limited to: volatility and business fluctuations in the industries in which we operate; our ability to achieve design wins with new and existing customers; our ability to accurately forecast and meet customer demand; risks related to global economic conditions, such as the impact of escalating global conflicts on macroeconomic conditions, economic uncertainty, market volatility, rising interest rates, inflation, or recession; customer price sensitivity; concentration of our customer base; risks associated with breach of our information security measures; difficulties with the implementation of our enterprise resource planning and other enterprise-wide information technology system applications; our loss of or inability to attract and retain key personnel; risks associated with our manufacturing footprint optimization and movement of manufacturing locations for certain products; disruptions to our manufacturing operations or those of our customers or suppliers; our ability to successfully identify, close, integrate and realize anticipated benefits from our acquisitions; quality issues or unanticipated costs in fulfilling our warranty obligations (including our discontinued solar inverter product line); risks inherent in our international operations, including the effect of trade and export controls, political and geographical risks, the impact of tariffs on our supply or products, and fluctuations in currency exchange rates; our ability to enforce, protect, and maintain our proprietary technology and intellectual property rights; regulatory risk related to our supply chain; legal matters, claims, investigations, and proceedings; changes to tax laws and regulations or our tax rates; changes in federal, state, local and foreign regulations, including with respect to privacy and data protection, and environmental regulation; the effect of our debt obligations and restrictive covenants on our ability to operate our business; risks related to our unfunded pension obligations; our estimates of the fair value of intangible assets; the potential impact of dilution related to our convertible debt, hedge, and warrant transactions; and certain risks relating to ownership of our common stock.

Actual results could differ materially and adversely from those expressed in any forward-looking statements, and readers are cautioned not to place undue reliance on forward-looking statements. Factors that could contribute to these differences or prove our forward-looking statements, by hindsight, to be overly optimistic or unachievable include, but are not limited to, the risks and uncertainties listed above and described in Advanced Energy’s Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission (the “SEC”). These reports and statements are available on the SEC’s website at www.sec.gov. Copies may also be obtained from Advanced Energy’s investor relations page at ir.advancedenergy.com or by contacting Advanced Energy’s investor relations at 970-407-6555. Forward-looking statements are made and based on information available to us on the date of this press release. Aspirational goals and targets discussed on the conference call or in the presentation materials should not be interpreted in any respect as guidance. We assume no obligation to update the information in this press release or provide the reasons why our actual results may differ.

ADVANCED ENERGY INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except per share data)
		Three Months Ended												Year Ended
		December 31,								September 30,				December 31,
		2024				2023				2024				2024				2023
Revenue, net		$	415,403			$	405,271			$	374,217			$	1,482,042			$	1,655,810
Cost of revenue			260,698				262,405				240,149				952,699				1,063,412
Gross profit			154,705				142,866				134,068				529,343				592,398
Gross margin %			37.2	%			35.3	%			35.8	%			35.7	%			35.8	%
Operating expenses:
Research and development			56,102				49,025				53,561				211,834				202,439
Selling, general, and administrative			58,164				54,932				56,237				224,538				221,034
Amortization of intangible assets			5,527				7,068				6,772				26,046				28,254
Restructuring, asset impairments, and other charges			902				18,071				28,546				30,318				26,977
Total operating expenses			120,695				129,096				145,116				492,736				478,704
Operating income (loss)			34,010				13,770				(11,048	)			36,607				113,694
Interest income			7,078				12,810				11,018				42,860				27,092
Interest expense			(4,644	)			(7,198	)			(6,378	)			(25,105	)			(16,566	)
Other income (expense), net			4,137				(3,184	)			(8,139	)			(1,985	)			(1,759	)
Income from continuing operations, before income tax			40,581				16,198				(14,547	)			52,377				122,461
Income tax benefit			(8,481	)			(21,693	)			(400	)			(3,929	)			(8,288	)
Income (loss) from continuing operations			49,062				37,891				(14,147	)			56,306				130,749
Loss from discontinued operations, net of income tax			(188	)			(389	)			(758	)			(2,092	)			(2,465	)
Net income (loss)		$	48,874			$	37,502			$	(14,905	)		$	54,214			$	128,284
Basic weighted-average common shares outstanding			37,536				37,297				37,532				37,476				37,480
Diluted weighted-average common shares outstanding			38,000				37,585				37,532				37,839				37,750
Earnings (loss) per share attributable to Advanced Energy Industries, Inc:
Continuing operations:
Basic earnings (loss) per share		$	1.31			$	1.02			$	(0.38	)		$	1.50			$	3.49
Diluted earnings (loss) per share		$	1.29			$	1.01			$	(0.38	)		$	1.49			$	3.46
Discontinued operations:
Basic loss per share		$	(0.01	)		$	(0.01	)		$	(0.02	)		$	(0.06	)		$	(0.07	)
Diluted loss per share		$	—			$	(0.01	)		$	(0.02	)		$	(0.06	)		$	(0.07	)
Net income (loss):
Basic earnings (loss) per share		$	1.30			$	1.01			$	(0.40	)		$	1.45			$	3.42
Diluted earnings (loss) per share		$	1.29			$	1.00			$	(0.40	)		$	1.43			$	3.40

ADVANCED ENERGY INDUSTRIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands)
		December 31,				December 31,
		2024				2023
ASSETS
Current assets:
Cash and cash equivalents		$	722,086			$	1,044,556
Accounts receivables, net			265,315				282,430
Inventories			360,411				336,137
Other current assets			41,511				48,771
Total current assets			1,389,323				1,711,894
Property and equipment, net			185,604				167,665
Operating lease right-of-use assets			96,305				95,432
Other assets			155,269				136,448
Goodwill and intangible assets, net			435,393				445,318
Total assets		$	2,261,894			$	2,556,757
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	143,502			$	141,850
Other accrued expenses			152,894				156,254
Current portion of long-term debt			—				20,000
Current portion of operating lease liabilities			17,826				17,744
Total current liabilities			314,222				335,848
Long-term debt			564,695				895,679
Other long-term liabilities			176,267				181,048
Long-term liabilities			740,962				1,076,727
Total liabilities			1,055,184				1,412,575
Deferred compensation			3,539				—
Total stockholders' equity			1,203,171				1,144,182
Total liabilities and stockholders’ equity		$	2,261,894			$	2,556,757

ADVANCED ENERGY INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) (in thousands)
		Year Ended December 31,
		2024				2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	54,214			$	128,284
Less: loss from discontinued operations, net of income tax			(2,092	)			(2,465	)
Income from continuing operations, net of income tax			56,306				130,749
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization			68,455				66,533
Stock-based compensation			45,940				31,001
Amortization and write off of debt issuance costs and debt discount			3,771				1,330
Deferred income tax benefit			(20,505	)			(33,940	)
Other			1,165				439
Changes in operating assets and liabilities, net of assets acquired			(22,208	)			16,813
Net cash from operating activities from continuing operations			132,924				212,925
Net cash from operating activities from discontinued operations			(2,177	)			(3,988	)
Net cash from operating activities			130,747				208,937
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of long-term investments			(2,991	)			(3,746	)
Purchases of property and equipment			(56,788	)			(61,005	)
Acquisitions, net of cash acquired			(13,762	)			-
Net cash from investing activities			(73,541	)			(64,751	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings			-				575,000
Payment of fees for long-term borrowings			(105	)			(13,880	)
Payments on long-term borrowings			(355,000	)			(20,000	)
Dividend payments			(15,369	)			(15,222	)
Payment for purchase of note hedges			-				(115,000	)
Proceeds from sale of warrants			-				74,865
Purchase and retirement of common stock			(1,770	)			(40,000	)
Net payments related to stock-based awards			(4,849	)			(79	)
Net cash from financing activities			(377,093	)			445,684
EFFECT OF CURRENCY TRANSLATION ON CASH			(2,583	)			(4,132	)
NET CHANGE IN CASH AND CASH EQUIVALENTS			(322,470	)			585,738
CASH AND CASH EQUIVALENTS, beginning of period			1,044,556				458,818
CASH AND CASH EQUIVALENTS, end of period		$	722,086			$	1,044,556

ADVANCED ENERGY INDUSTRIES, INC.
SUPPLEMENTAL INFORMATION (UNAUDITED)
(in thousands)
Net Revenue by Market		Three Months Ended									Year Ended
		December 31,						September 30,			December 31,
		2024			2023			2024			2024			2023
Semiconductor Equipment		$	226,838		$	191,375		$	197,497		$	792,559		$	743,794
Industrial and Medical			76,818			108,600			76,837			316,177			474,449
Data Center Computing			88,673			62,853			80,653			284,192			249,874
Telecom and Networking			23,074			42,443			19,230			89,114			187,693
Total		$	415,403		$	405,271		$	374,217		$	1,482,042		$	1,655,810

Net Revenue by Geographic Region		Three Months Ended									Year Ended
		December 31,						September 30,			December 31,
		2024			2023			2024			2024			2023
North America		$	187,382		$	187,240		$	175,691		$	669,946		$	724,481
Asia			194,744			169,700			163,212			661,854			713,571
Europe			32,302			47,501			34,892			147,560			212,368
Other			975			830			422			2,682			5,390
Total		$	415,403		$	405,271		$	374,217		$	1,482,042		$	1,655,810

ADVANCED ENERGY INDUSTRIES, INC.
SELECTED OTHER DATA (UNAUDITED)
(in thousands)
Reconciliation of Non-GAAP measure - Operating expenses and operating income, excluding certain items		Three Months Ended												Year Ended
		December 31,								September 30,				December 31,
		2024				2023				2024				2024				2023
Gross profit from continuing operations, as reported		$	154,705			$	142,866			$	134,068			$	529,343			$	592,398
Adjustments to gross profit:
Stock-based compensation			1,063				472				1,046				3,994				2,059
Facility expansion, relocation costs and other			2,084				1,146				868				4,421				2,334
Acquisition-related costs			—				44				—				(13	)			238
Non-GAAP gross profit			157,852				144,528				135,982				537,745				597,029
Non-GAAP gross margin			38.0	%			35.7	%			36.3	%			36.3	%			36.1	%
Operating expenses from continuing operations, as reported			120,695				129,096				145,116				492,736				478,704
Adjustments:
Amortization of intangible assets			(5,527	)			(7,068	)			(6,772	)			(26,046	)			(28,254	)
Stock-based compensation			(10,574	)			(7,716	)			(10,868	)			(41,946	)			(28,942	)
Acquisition-related costs			(1,184	)			(1,372	)			(1,581	)			(5,965	)			(4,026	)
Facility expansion, relocation costs and other			(734	)			—				(488	)			(1,222	)			(189	)
Restructuring, asset impairments, and other charges			(902	)			(18,071	)			(28,546	)			(30,318	)			(26,977	)
Non-GAAP operating expenses			101,774				94,869				96,861				387,239				390,316
Non-GAAP operating income		$	56,078			$	49,659			$	39,121			$	150,506			$	206,713
Non-GAAP operating margin			13.5	%			12.3	%			10.5	%			10.2	%			12.5	%

ADVANCED ENERGY INDUSTRIES, INC.
SELECTED OTHER DATA (UNAUDITED)
(in thousands, except per share data)
Reconciliation of Non-GAAP measure - Income excluding certain items		Three Months Ended												Year Ended
		December 31,								September 30,				December 31,
		2024				2023				2024				2024				2023
Income (loss) from continuing operations, less non-controlling interest, net of income tax		$	49,062			$	37,891			$	(14,147	)		$	56,306			$	130,749
Adjustments:
Amortization of intangible assets			5,527				7,068				6,772				26,046				28,254
Acquisition-related costs			1,184				1,416				1,581				5,952				4,264
Facility expansion, relocation costs, and other			2,818				1,146				1,356				5,643				2,523
Restructuring, asset impairments, and other charges			902				18,071				28,546				30,318				26,977
Unrealized foreign currency loss (gain)			(4,203	)			2,728				3,993				(3,512	)			(89	)
Other costs included in other income (expense), net			(853	)			—				3,665				2,812				(1,516	)
Tax effect of non-GAAP adjustments, including certain discrete tax benefits			(14,271	)			(28,030	)			(4,172	)			(19,563	)			(31,303	)
Non-GAAP income, net of income tax, excluding stock-based compensation			40,166				40,290				27,594				104,002				159,859
Stock-based compensation, net of tax			9,193				6,387				9,412				36,292				24,181
Non-GAAP income, net of income tax		$	49,359			$	46,677			$	37,006			$	140,294			$	184,040
Reconciliation of Non-GAAP measure - Weighted-average common shares adjusted for stock awards		Three Months Ended												Year Ended
		December 31,								September 30,				December 31,
		2024				2023				2024				2024				2023
Diluted weighted-average common shares outstanding			38,000				37,585				37,532				37,839				37,750
Dilutive effect of stock awards			—				—				360				—				—
Non-GAAP diluted weighted-average common shares outstanding			38,000				37,585				37,892				37,839				37,750

Reconciliation of non-GAAP measure - per share earnings excluding certain items		Three Months Ended												Year Ended
		December 31,								September 30,				December 31,
		2024				2023				2024				2024				2023
Diluted earnings (loss) per share from continuing operations, as reported		$	1.29			$	1.01			$	(0.38	)		$	1.49			$	3.46
Add back:
Per share impact of non-GAAP adjustments, net of tax			0.01				0.23				1.36				2.22				1.42
Non-GAAP earnings per share		$	1.30			$	1.24			$	0.98			$	3.71			$	4.88

Reconciliation of Q1 2025 Guidance
		Low End				High End
Revenue		$372 million				$412 million
Reconciliation of non-GAAP earnings per share
GAAP earnings per share		$	0.23			$	0.73
Stock-based compensation			0.35				0.35
Amortization of intangible assets			0.15				0.15
Restructuring, asset impairments, and other charges			0.17				0.17
Tax effects of excluded items			(0.12	)			(0.12	)
Non-GAAP earnings per share		$	0.78			$	1.28

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250212434708/en/

For more information, contact:

Andrew Huang

Advanced Energy Industries, Inc.

970-407-6555

ir@aei.com

Source: Advanced Energy Industries, Inc.

FAQ

What was Advanced Energy's (AEIS) revenue for Q4 2024?

Advanced Energy reported Q4 2024 revenue of $415.4 million, exceeding guidance and showing growth from both Q3 2024 ($374.2 million) and Q4 2023 ($405.3 million).

How much did AEIS revenue decline in full-year 2024?

AEIS revenue declined 10% in 2024 to $1.48 billion, compared to $1.66 billion in 2023.

What is Advanced Energy's Q1 2025 revenue guidance?

Advanced Energy guided Q1 2025 revenue at $392 million ±$20 million with non-GAAP EPS of $1.03 ±$0.25.

How much cash did AEIS have at the end of 2024?

AEIS ended 2024 with $722.1 million in cash and equivalents.

What was AEIS's debt reduction activity in 2024?

AEIS used $355.0 million of cash to prepay its term loan, leaving $564.7 million in outstanding debt from 2028 convertible notes.