Advanced Energy Industries Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Advanced Energy Industries Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and balance sheet information.</b>

AI Summary

ADVANCED ENERGY INDUSTRIES INC (AEIS) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Advanced Energy Industries Inc. reported financial results for the quarter ended March 31, 2024. The filing includes data for the period from January 1, 2024, to March 31, 2024. Comparative data for the quarter ended March 31, 2023, is also provided. Key balance sheet items such as Retained Earnings and Additional Paid-In Capital are detailed as of March 31, 2024, and prior periods. Information regarding Convertible Senior Notes Due Two Thousand Twenty Eight is presented as of March 31, 2024.

Why It Matters

For investors and stakeholders tracking ADVANCED ENERGY INDUSTRIES INC, this filing contains several important signals. This 10-Q filing provides a snapshot of Advanced Energy Industries Inc.'s financial health and operational performance during the first quarter of 2024, crucial for investors assessing the company's trajectory. The detailed financial data, including comparative figures from the previous year, allows stakeholders to analyze trends in revenue, equity, and debt, informing investment decisions.

Risk Assessment

Risk Level: — ADVANCED ENERGY INDUSTRIES INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures, indicating a routine update on the company's financial status.

Analyst Insight

Review the detailed segment revenue and geographic performance data within the 10-Q to identify growth drivers and potential areas of concern for Advanced Energy Industries Inc.

Financial Highlights

revenue

37,434,000

revenue Growth

0.35%

Key Numbers

• 37,434,000 — Revenue (For the quarter ended March 31, 2024)
• 37,318,000 — Revenue (For the quarter ended March 31, 2023)

Key Players & Entities

• ADVANCED ENERGY INDUSTRIES INC (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-01 (date) — Filed as of date
• 0000927003 (company) — Central Index Key
• 3679 (industry) — Standard Industrial Classification
• 840846841 (organization) — IRS number
• DE (state) — State of incorporation
• 1231 (fiscal_year) — Fiscal year end

FAQ

Industry Context

Advanced Energy Industries Inc. operates in the electronic components sector, specifically focusing on power conversion and control solutions for various industries.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue breakdown by segment and geography for Q1 2024 to identify growth trends.
2. Review changes in balance sheet items like Retained Earnings and Additional Paid-In Capital compared to the prior year.
3. Examine any disclosures related to Convertible Senior Notes Due Two Thousand Twenty Eight for potential impact on capital structure.

Key Dates

• 2024-03-31: Quarterly period end — Financial data reported as of this date.
• 2024-05-01: Filing date — Date the 10-Q was officially submitted to the SEC.
• 2023-03-31: Prior year comparative period end — Provides context for year-over-year financial performance.

Year-Over-Year Comparison

Revenue for the quarter ended March 31, 2024, was $37,434,000, a slight increase from $37,318,000 reported for the same period in 2023.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value AEIS Nasdaq Global Select

Filing Documents

• aeis-20240331x10q.htm (10-Q) — 1887KB
• aeis-20240331xex31d1.htm (EX-31.1) — 15KB
• aeis-20240331xex31d2.htm (EX-31.2) — 15KB
• aeis-20240331xex32d1.htm (EX-32.1) — 5KB
• aeis-20240331xex32d2.htm (EX-32.2) — 5KB
• aeis-20240331x10q003.jpg (GRAPHIC) — 4KB
• 0001558370-24-006384.txt (&nbsp;) — 8373KB
• aeis-20240331.xsd (EX-101.SCH) — 51KB
• aeis-20240331_cal.xml (EX-101.CAL) — 66KB
• aeis-20240331_def.xml (EX-101.DEF) — 191KB
• aeis-20240331_lab.xml (EX-101.LAB) — 470KB
• aeis-20240331_pre.xml (EX-101.PRE) — 365KB
• aeis-20240331x10q_htm.xml (XML) — 1594KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION ITEM 1. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 3 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Income (Loss ) 5 Consolidated Statements of Stockholders' Equity 6 Consolidated Statements of Cash Flows 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 22 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 34 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 35

OTHER INFORMATION

PART II OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 35 ITEM 1A.

RISK FACTORS

RISK FACTORS 35 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 36 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 36 ITEM 4. MINE SAFETY DISCLOSURES 36 ITEM 5. OTHER INFORMATION 36 ITEM 6. EXHIBITS 37

SIGNATURES

SIGNATURES 38 2 Table of Contents

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS ADVANCED ENERGY INDUSTRIES, INC. Unaudited Consolidated Balance Sheets (In thousands, except per share amounts) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 1,017,780 $ 1,044,556 Accounts receivable, net 247,510 282,430 Inventories 361,337 336,137 Other current assets 44,990 48,771 Total current assets 1,671,617 1,711,894 Property and equipment, net 175,453 167,665 Operating lease right-of-use assets 106,167 95,432 Other assets 135,627 136,448 Intangible assets, net 154,390 161,478 Goodwill 280,834 283,840 TOTAL ASSETS $ 2,524,088 $ 2,556,757 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 137,934 $ 141,850 Accrued payroll and employee benefits 49,384 73,595 Other accrued expenses 60,094 66,662 Customer deposits and other 13,531 15,997 Current portion of long-term debt 20,000 20,000 Current portion of operating lease liabilities 17,049 17,744 Total current liabilities 297,992 335,848 Long-term debt, net 891,495 895,679 Operating lease liabilities 99,853 89,330 Pension benefits 48,567 49,135 Other long-term liabilities 43,298 42,583 Total liabilities 1,381,205 1,412,575 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, $ 0.001 par value, 1,000 shares authorized, none issued and outstanding — — Common stock, $ 0.001 par value, 70,000 shares authorized; 37,434 and 37,318 issued and outstanding at March 31, 2024 and December 31, 2023, respectively 37 37 Additional paid-in capital 153,643 148,300 Accumulated other comprehensive income ( 1,855 ) 6,114 Retained earnings 991,058 989,731 Total stockholders' equity 1,142,883 1,144,182 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,524,088 $ 2,556,757 The accompan

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View this 10-Q filing on SEC EDGAR