Manufacturing equipment and systems provider Advanced Energy (NASDAQ:AEIS) will be reporting earnings tomorrow after the bell. Here’s what to expect.
Advanced Energy met analysts’ revenue expectations last quarter, reporting revenues of $374.2 million, down 8.7% year on year. It was a satisfactory quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations but revenue guidance for next quarter meeting analysts’ expectations.
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 decline 2.8% year on year to $393.7 million, improving from the 17.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.10 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 electronic components segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Belden delivered year-on-year revenue growth of 20.8%, beating analysts’ expectations by 1.7%, and Corning reported revenues up 18.4%, topping estimates by 3%. Belden’s stock price was unchanged after the results, while Corning was down 2.6%.
Read our full analysis of Belden’s results here and Corning’s results here.
There has been positive sentiment among investors in the electronic components segment, with share prices up 2.3% on average over the last month. Advanced Energy is down 4% during the same time and is heading into earnings with an average analyst price target of $128.10 (compared to the current share price of $112.80).
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