Yahoo Finance Earnings To Watch: Advanced Energy (AEIS) Reports Q2 Results Tomorrow
Manufacturing equipment and systems provider Advanced Energy (NASDAQGS:AEIS) will be reporting earnings tomorrow after market close. Here's what to expect.
Advanced Energy missed analysts' revenue expectations by 6.9% last quarter, reporting revenues of $327.5 million, down 23% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
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 15.6% year on year to $350.5 million, a further deceleration from the 5.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.71 per share.
The majority of analysts covering the company have 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 Q2 results, giving us a hint as to what we can expect. Bel Fuse's revenues decreased 21.1% year on year, beating analysts' expectations by 2.3%, and Rogers reported a revenue decline of 7.2%, in line with consensus estimates. Bel Fuse traded up 9% following the results while Rogers's stock price was unchanged.
Read our full analysis of Bel Fuse's results here and Rogers's results here.
There has been positive sentiment among investors in the electronic components segment, with share prices up 10.9% on average over the last month. Advanced Energy is up 3.9% during the same time and is heading into earnings with an average analyst price target of $109.6 (compared to the current share price of $110.01).
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