Advanced Energy Beats Q2 Estimates, Guides Q3 Revenue to $640M

summarizeSummary

Advanced Energy reported Q2 2026 revenue of $574M (up 30% YoY) and non-GAAP EPS of $2.74, both above guidance. Q3 revenue guidance of $640M suggests accelerating growth.

check_boxKey Events · Earnings and Guidance · AEIS

• Q2 Revenue and EPS Beat Guidance

  Revenue of $574M exceeded the high end of guidance and grew 30% YoY. Non-GAAP EPS of $2.74 also beat the high end, driven by record semiconductor revenue (+33% YoY) and data center computing strength.

• Q3 Guidance Implies Accelerating Growth

  Management guided Q3 revenue to $640M +/- $20M, well above Q2's $574M, with non-GAAP EPS of $3.00 +/- $0.25. This suggests demand continues to strengthen across all markets.

• Record Operating Cash Flow

  Cash flow from continuing operations hit a record $86M in Q2, contributing to a cash balance of nearly $1.4B. The company paid $4.1M in dividends.

• Non-Cash Debt Conversion Loss Dents GAAP EPS

  GAAP EPS of $1.29 included a $31.8M ($0.75/share) non-cash loss on induced conversion of 2028 convertible notes. This accounting charge does not affect cash or operations.

auto_awesomeAnalysis · AEIS · Manufacturing

Advanced Energy delivered record Q2 results with revenue of $574 million, up 30% year-over-year and above the high end of its own guidance. Non-GAAP EPS of $2.74 also beat expectations. The company guided Q3 revenue to $640 million at the midpoint, well above the $574 million just reported, signaling continued strong demand across semiconductor, data center, and industrial markets. The $86 million in operating cash flow was a record, strengthening an already robust balance sheet with nearly $1.4 billion in cash. The only blemish was a $31.8 million non-cash loss on induced conversion of debt, which depressed GAAP EPS to $1.29 but does not affect the underlying business momentum.