Welcome to our dedicated page for Advanced Energy Industries news (Ticker: AEIS), a resource for investors and traders seeking the latest updates and insights on Advanced Energy Industries stock.
Advanced Energy Industries Inc. (Nasdaq: AEIS) is a renowned leader in designing and manufacturing precision power conversion, measurement, and control solutions for mission-critical applications. With over four decades of expertise, the company delivers advanced power technologies to industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking, and telecommunications. Headquartered in Denver, Colorado, Advanced Energy operates globally, offering innovative solutions to complex applications.
Founded in 1981, Advanced Energy has built a diversified and robust business model. Their product portfolio includes thin-film power-conversion systems that transform raw electrical power into customizable, predictable power sources, and power control modules that regulate and measure temperature during manufacturing cycles. The company serves major original equipment manufacturers and end customers across semiconductor, flat panel display, solar panel, and other industrial capital equipment markets.
Recent breakthroughs and initiatives:
- The launch of the next-generation NeoPower™ product, which boasts a power density of 18 W/in3 and extensive digital communication options, showcases AE's innovation in configurable industrial and medical power supplies.
- The introduction of the Evergreen™ modular high-power platform with air-cooled Vento™ products significantly enhances high-power, high-efficiency AC-DC power conversion.
- Advanced Energy's aggressive acquisition strategy, including a potential offer to acquire XP Power Limited, aims to expand its product portfolio and market presence.
Financial Highlights:
- Q4 2023 revenue: $405 million, with GAAP EPS of $1.01 and Non-GAAP EPS of $1.24. The Industrial and Medical market noted record growth, contributing $474 million in sales.
- Full year 2023 revenue: $1.66 billion, with GAAP EPS of $3.46 and Non-GAAP EPS of $4.88. The company generated a record $213 million in cash flow from continuing operations.
Partnerships and Collaborations:
- Advanced Energy is known for its close partnerships with semiconductor and industrial customers, driving perpetual innovation and supporting technical expertise across North America, Europe, and Asia.
Commitment to Future Growth:
Advanced Energy continues to invest in research and development, striving to meet technology advances and propelling customer growth. The company's STEM Scholarship Program is a testament to its dedication to nurturing future talent in science, technology, engineering, and mathematics fields.
For more information, visit www.advancedenergy.com.
Advanced Energy Industries (NASDAQ: AEIS) has announced a quarterly cash dividend of $0.10 per share. The dividend will be payable on September 6, 2024 to shareholders of record as of August 26, 2024. This decision was authorized by the company's board of directors. Advanced Energy, a global leader in precision power conversion, measurement, and control solutions, emphasizes that future dividend declarations, including record and payment dates, are subject to board review and approval.
Advanced Energy (Nasdaq: AEIS), a leader in precision power solutions, has announced its participation in several upcoming investor conferences. These events include:
- KeyBanc Technology Leadership Forum on August 6, 2024
- Seaport Research Partners Annual Summer Investor Conference on August 20, 2024
- Jefferies Semiconductor, IT Hardware & Communications Technology Conference on August 27, 2024
- 2024 Semiconductor, IT Hardware & Networking Conference on August 28, 2024
- Benchmark 2024 The, Media & Telecom Conference on September 4, 2024
- Citi 2024 Global TMT Conference on September 5, 2024
The KeyBanc event will feature a presentation at 1:30PM MT, which will be streamed live and available for replay on the company's website.
Advanced Energy Industries (Nasdaq: AEIS) reported strong Q2 2024 results, with revenue of $364.9 million, exceeding expectations. GAAP EPS from continuing operations was $0.41, and non-GAAP EPS was $0.85, both above the mid-point of guidance. The company saw sequential revenue growth in three of its four markets. CEO Steve Kelley highlighted efforts to incorporate AE's technologies into leading-edge systems and execute manufacturing consolidation plans to drive market share gains and profitability improvement.
For Q3 2024, Advanced Energy projects revenue of $370 million ± $20 million, GAAP EPS from continuing operations of ($0.10) ± $0.25, and non-GAAP EPS of $0.90 ± $0.25. The company plans further actions related to its manufacturing consolidation initiatives, with associated charges expected in Q3 2024.
Advanced Energy (Nasdaq: AEIS), a global leader in precision power conversion, measurement, and control solutions, has announced its second quarter 2024 earnings release date. The company will report its financial results on Tuesday, July 30, 2024, after the market closes. A conference call with management will be held the same day at 4:30 p.m. Eastern Time.
Investors can participate in the live earnings call by dialing 877-407-0890 (US) or +1-201-389-0918 (International). A live webcast will be available on the company's Investors page. A replay of the call will be accessible approximately two hours after the event concludes.
Advanced Energy has introduced the NavX™ impedance matching network with industry-leading algorithms and direct generator communication, offering precise and repeatable plasma control critical in advanced semiconductor fabrication.
The NavX platform, paired with the eVerest™ generator, forms an advanced RF delivery system, enabling ultra-fast tuning and RF synchronization during multilevel pulse states. Features include selectable tuning algorithms, a +/- 10% frequency span for faster tuning, and IMD immunity for multi-frequency applications. This system is also compatible with PowerInsight IoT for high-resolution data access.
Advanced Energy (Nasdaq: AEIS) has acquired Airity Technologies, a company specializing in Gallium Nitride (GaN)-based high voltage power conversion products. This acquisition aims to strengthen Advanced Energy's portfolio in semiconductor, industrial, and medical markets by leveraging Airity's high-frequency power conversion technologies. CEO Steve Kelley emphasized that this move would bolster the company's leadership and innovation in precision power conversion. Although financially insignificant for 2024, the acquisition's terms were not disclosed.
Advanced Energy (Nasdaq: AEIS) announced it will not make an offer to acquire XP Power (LSE: XPP). The company cited a lack of progress in negotiations and the inability to conduct due diligence as key reasons. Public information did not present any additional value that would justify improving their initial offer of 1950p per share. Advanced Energy believes this offer reflected future market potential while accounting for current risks. The decision aligns with their financial discipline and focus on investments that surpass the cost of capital. Advanced Energy remains open to other opportunities in the precision power industry. Following this decision, they are restricted from making any further offers for XP Power for six months, as per the Singapore Takeover Code.
Advanced Energy (Nasdaq: AEIS) announced the recipients of its 2024 STEM Scholarship Program. Three students, Anjali Murali and Soundarya Sivakumar from Colorado State University, and Kialie Malone from the University of Minnesota, Twin Cities, will each receive a $20,000 grant for tuition, professional mentoring, and an internship opportunity. This program, launched in 2021, aims to support students in pursuing careers in science, technology, engineering, and mathematics. The initiative has, to date, provided support to 12 students from five universities known for excellence in precision power electronics.
Advanced Energy (Nasdaq: AEIS) has announced a potential all-cash offer to acquire XP Power (LSE: XPP) for £19.50 per share, following previous proposals that were rejected. The latest proposal values XP Power at £468 million, reflecting a 68% premium to the closing share price as of May 20, 2024. Advanced Energy's proposal aims to address liquidity issues and provide significant value to XP Power's shareholders. The acquisition aligns with Advanced Energy's growth strategy in precision power solutions. Advanced Energy plans to fund the acquisition using its cash reserves, amounting to over $1 billion. The proposed acquisition is contingent on XP Power's board engagement and regulatory approvals.
Advanced Energy (Nasdaq: AEIS) will participate in various upcoming investor conferences to showcase its precision power conversion, measurement, and control solutions. The company will present at conferences hosted by JP Morgan, KeyBanc, TD Cowen, Stifel, and BofA Securities throughout May and June 2024.
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