Advanced Energy: Q4 Earnings Snapshot
By AP News
Published - Feb 08, 2023, 04:24 PM ET
Last Updated - Jun 22, 2023, 10:35 PM EDT
DENVER (AP) — DENVER (AP) — Advanced Energy Industries Inc. (AEIS) on Wednesday reported fourth-quarter profit of $43.7 million.
The Denver-based company said it had net income of $1.16 per share. Earnings, adjusted for amortization costs and restructuring costs, came to $1.70 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The maker of power-conversion products posted revenue of $490.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $471.5 million.
