Advanced Energy Guides Q3 Below Estimates As Q2 Results Miss Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Advanced Energy Industries, Inc. (AEIS) provided earnings and revenue guidance for the third quarter.

For the third quarter, the company expects earnings from continuing operations in a range of $0.32 to $0.72 per share and adjusted earnings in a range of $0.60 to $1.00 per share on revenues between $325 million and $355 million.

On average, analysts polled by Thomson Reuters expect the company to earn $1.40 per share on revenues of $377.84 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income from continuing operations of $35.5 million or $0.92 per share, higher than $29.3 million or $0.76 per share in the prior-year quarter. Excluding items, adjusted earnings were $1.25 per share, compared to $1.18 per share in the year-ago quarter.

Sales for the quarter grew to $361.3 million from $339.9 million in the same quarter last year.

Analysts expected earnings of $1.27 per share on revenues of $362.14 million for the quarter.

On July 29 the Board of Directors increased the company's stock repurchase authorization to $200 million.