AP NEWS
ADVERTISEMENT
Related topics

Advanced Energy: 3Q Earnings Snapshot

November 5, 2020 GMT

DENVER (AP) _ Advanced Energy Industries Inc. (AEIS) on Thursday reported third-quarter profit of $45.6 million.

The Denver-based company said it had net income of $1.19 per share. Earnings, adjusted for one-time gains and costs, were $1.66 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The maker of power-conversion products posted revenue of $389.5 million in the period.

For the current quarter ending in December, Advanced Energy expects its per-share earnings to range from $1.10 to $1.50.

ADVERTISEMENT

The company said it expects revenue in the range of $340 million to $380 million for the fiscal fourth quarter.

Advanced Energy shares have risen nearly 7% since the beginning of the year. The stock has climbed 21% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AEIS at https://www.zacks.com/ap/AEIS