Every material Form 8-K Advanced Energy has filed with the SEC since February 06, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Advanced Energy reported third quarter 2026 results with revenue of $696 million, up 50% from a year earlier and above the high end of its guidance. GAAP diluted EPS from continuing operations was $2.80, up from $1.21, and non-GAAP EPS was $3.65, also above the high end of guidance. The company guided fourth quarter 2026 revenue to $735 million plus or minus $25 million.
Q3 2026 revenue was $696 million, versus $463 million in Q3 2025 and $574 million in Q2 2026.
GAAP diluted EPS from continuing operations was $2.80 versus $1.21 a year earlier; non-GAAP EPS was $3.65 versus $1.74.
Q2 2026 GAAP results included $32 million of inducement costs tied to partial conversion of the 2028 convertible notes.
Q4 2026 guidance: revenue $735 million plus or minus $25 million; GAAP EPS $3.30 plus or minus $0.30; non-GAAP EPS $3.90 plus or minus $0.30.
Advanced Energy reported second-quarter 2026 revenue of $574 million, up 30% from a year earlier and above the high end of its guidance. Non-GAAP EPS was $2.74, versus $1.50 a year earlier, while GAAP EPS from continuing operations was $1.29, including $31.8 million of inducement costs tied to partial conversion of its 2028 convertible notes. The company also guided third-quarter 2026 revenue to $640 million, plus or minus $20 million.
Q2 2026 revenue was $574 million, up from $442 million a year earlier and $511 million in Q1 2026
Non-GAAP EPS was $2.74 versus $1.50 in Q2 2025; GAAP EPS from continuing operations was $1.29 versus $0.67
GAAP EPS included $31.8 million, or $0.75 per diluted share, of inducement costs on the 2028 convertible notes
Q3 2026 guidance: revenue $640 million plus or minus $20 million; non-GAAP EPS $3.00 plus or minus $0.25
Advanced Energy Industries completed a private offering of $1.15 billion in 0% convertible senior notes maturing May 15, 2031, and used part of the net proceeds of about $1,128.1 million to buy back $438.3 million of its 2.50% convertible notes due 2028 in exchange for cash and shares. The filing says capped call transactions are expected to reduce potential dilution to shareholders from conversions, up to a cap.
$1.15 billion of 0% convertible senior notes due May 15, 2031, including the full $150.0 million option exercised by the initial purchasers
Net proceeds of about $1,128.1 million; $69.0 million paid for capped call confirmations and about $442.4 million in cash plus about 1.98 million common shares used to exchange $438.3 million of 2028 notes
Initial conversion price of about $508.78 per share; $136.7 million of 2028 notes remain outstanding; notes cannot be redeemed before May 21, 2029, except in a cleanup redemption
At its May 7, 2026 annual meeting, Advanced Energy stockholders approved an amendment that raises the share pool under its 2023 Omnibus Incentive Plan from 2,400,000 to 4,900,000 shares and extends the plan to May 7, 2036. They also approved doubling authorized common stock from 70,000,000 to 140,000,000 shares, effective the same day, and elected all ten director nominees. The filing does not state the number of new shares that will be issued under these changes.
Equity plan share authorization rises from 2,400,000 to 4,900,000 shares; termination date extended from April 27, 2033 to May 7, 2036
Authorized common stock increases from 70,000,000 to 140,000,000 shares, effective upon filing May 7, 2026
Equity plan approved with 26,784,160 votes for and 7,379,970 against
All ten director nominees elected, with individual votes for ranging from 33,037,148 to 34,150,102
Advanced Energy reported first-quarter 2026 revenue of $511 million, up 26% from a year earlier, and GAAP diluted earnings per share from continuing operations of $1.59, up from $0.65. The company guided second-quarter 2026 revenue to $540 million, plus or minus $20 million, above the first-quarter level. Operating cash flow was an outflow of $6 million, reflecting a $48 million inventory increase.
Q1 2026 revenue was $511 million, versus $405 million in Q1 2025 and $489 million in Q4 2025.
GAAP diluted EPS from continuing operations was $1.59; non-GAAP diluted EPS was $2.09, versus $1.23 a year earlier.
Data Center Computing revenue was $194.2 million, more than double the $96.2 million reported a year earlier.
Q2 2026 guidance: revenue $540 million plus or minus $20 million; GAAP EPS $1.54 plus or minus $0.23; non-GAAP EPS $2.18 plus or minus $0.25.
Advanced Energy reported fourth-quarter 2025 revenue of $489 million, up from $415 million a year earlier, and full-year 2025 revenue of $1.80 billion, up 21%. Q4 diluted GAAP EPS from continuing operations was $1.31 versus $1.29 a year earlier, and non-GAAP EPS was $1.94 versus $1.30, while the company guided first-quarter 2026 revenue to $500 million plus or minus $20 million.
Q4 2025 revenue was $489 million, compared with $463 million in Q3 2025 and $415 million in Q4 2024.
Q4 2025 GAAP diluted EPS from continuing operations was $1.31; non-GAAP diluted EPS was $1.94. Q4 2024 GAAP results included a one-time, net tax benefit of $15 million.
Full-year 2025 cash flow from continuing operations was $235 million, and the company repurchased $30 million of common stock.
Q1 2026 guidance: revenue of $500 million plus or minus $20 million; GAAP EPS of $1.44 plus or minus $0.25; non-GAAP EPS of $1.94 plus or minus $0.25.
Advanced Energy reported third-quarter 2025 revenue of $463 million, up from $441.5 million in the prior quarter and $374.2 million a year earlier, and said revenue and both GAAP and non-GAAP EPS were above the high end of its guidance. The company also gave fourth-quarter 2025 guidance of $470 million in revenue (plus or minus $20 million) and non-GAAP EPS of $1.75 (plus or minus $0.25).
Q3 2025 GAAP diluted EPS from continuing operations was $1.21, compared with $0.67 in Q2 2025 and a loss of $0.38 in Q3 2024; non-GAAP EPS was $1.74.
Data Center Computing revenue was $171.6 million, up 113% year over year and 21% sequentially.
Cash flow from continuing operations was $79 million in the quarter, up 123% year over year.
Advanced Energy reported second quarter 2025 revenue of $441.5 million and GAAP earnings of $0.67 per diluted share, both up from a year earlier and from the first quarter of 2025. The company also issued third quarter 2025 guidance of $440 million in revenue, plus or minus $20 million, and repurchased $22.8 million of common stock during the quarter.
Revenue was $441.5 million, up from $364.9 million in Q2 2024 and $404.6 million in Q1 2025
GAAP EPS from continuing operations was $0.67, versus $0.41 in Q2 2024; non-GAAP EPS was $1.50
Data Center Computing revenue was $141.6 million, up from $73.0 million in Q2 2024
Advanced Energy terminated its prior $600 million credit agreement and entered a new $600 million unsecured revolving credit agreement dated May 8, 2025. The filing says no borrowings were outstanding under the prior agreement at termination, and the new facility matures May 8, 2030, later than the prior September 9, 2026 maturity.
New $600 million senior unsecured revolving facility with HSBC as administrative agent and Citibank, Wells Fargo, PNC and JPMorgan Chase among the lenders
Maturity date of May 8, 2030, which may be accelerated if liquidity falls below 120% of the redemption amount of the 2.50% Convertible Notes due September 15, 2028
Interest at Term SOFR plus 0.75% to 1.75%, depending on the consolidated leverage ratio; the leverage ratio cannot exceed 3.00 to 1.00 at quarter-end
Prior agreement dated September 10, 2019, with a September 9, 2026 maturity, was terminated on May 8, 2025, with no borrowings outstanding
Advanced Energy reported first-quarter 2025 revenue of $404.6 million, up from $327.5 million a year earlier but down from $415.4 million in the fourth quarter of 2024. GAAP diluted EPS from continuing operations was $0.65, compared with $0.16 a year earlier, and non-GAAP EPS was $1.23. The company guided second-quarter revenue to $420 million plus or minus $20 million and non-GAAP EPS to $1.30 plus or minus $0.25.
Q1 2025 revenue was $404.6 million, versus $327.5 million in Q1 2024 and $415.4 million in Q4 2024.
GAAP diluted EPS from continuing operations was $0.65 (Q1 2024: $0.16; Q4 2024: $1.29); non-GAAP EPS was $1.23.
Advanced Energy reported fourth-quarter 2024 revenue of $415.4 million, above the high end of its guidance, and GAAP EPS from continuing operations of $1.29, up from $1.01 a year earlier. For the full year, revenue fell 10% to $1.48 billion and GAAP EPS from continuing operations fell to $1.49 from $3.46, and first-quarter 2025 revenue guidance of $392 million +/- $20 million is below the fourth-quarter level.
Q4 2024 revenue was $415.4 million, versus $405.3 million in Q4 2023 and $374.2 million in Q3 2024
Q4 GAAP EPS from continuing operations was $1.29, including a one-time net tax benefit of $15.0 million; non-GAAP EPS was $1.30
Full-year 2024 revenue was $1.48 billion, down 10% from $1.66 billion in 2023
Advanced Energy reported third-quarter 2024 revenue of $374.2 million, above the midpoint of its guidance, and up from $364.9 million in the second quarter but down from $410.0 million a year earlier. The company posted a GAAP loss of $0.38 per share, which included a $28.5 million restructuring charge tied to its manufacturing consolidation, and guided fourth-quarter revenue to $392 million plus or minus $20 million.
Q3 2024 revenue was $374.2 million, versus $364.9 million in Q2 2024 and $410.0 million in Q3 2023.
GAAP loss from continuing operations was $14.1 million, or $0.38 per share, including a $28.5 million restructuring charge; Q3 2023 GAAP net income was $33.7 million, or $0.89 per diluted share.
Non-GAAP EPS was $0.98, compared with $0.85 in Q2 2024 and $1.28 in Q3 2023.
Q4 2024 guidance: revenue of $392 million plus or minus $20 million and non-GAAP EPS of $1.08 plus or minus $0.25.
Advanced Energy Industries signed Amendment No. 4 to its credit agreement on September 9, 2024, raising its revolving facility commitment by $400 million to $600 million, all currently available. The company used cash on hand to prepay in full the $345 million outstanding under its term loan, leaving its $575 million 2.50% convertible senior notes due 2028 as its only remaining debt, and the company says this should reduce net interest expense.
Revolving facility commitment increased by $400 million to $600 million in aggregate, all currently available.
Term loan facility of $345 million outstanding was prepaid in full using cash on hand, along with accrued interest.
Accordion feature refreshed to allow an increase of up to $250 million in the aggregate, subject to conditions.
Only remaining debt is $575 million of 2.50% convertible senior notes due 2028; interest rate swaps on the term loan expired September 10, 2024.
Advanced Energy reported second quarter 2024 revenue of $364.9 million, up from $327.5 million in the first quarter but down from $415.5 million a year earlier. GAAP earnings per diluted share from continuing operations were $0.41, compared with $0.15 in the prior quarter and $0.73 a year ago. The company also expects most of its severance and facility-related charges from further manufacturing consolidation to be recognized in the third quarter of 2024, and its third quarter GAAP EPS guidance midpoint is negative.
Q2 2024 revenue was $364.9 million, versus $327.5 million in Q1 2024 and $415.5 million in Q2 2023.
Q2 2024 GAAP diluted EPS from continuing operations was $0.41; non-GAAP diluted EPS was $0.85, versus $1.11 in Q2 2023.
Advanced Energy reported first-quarter 2024 revenue of $327.5 million, down from $425.0 million a year earlier and $405.3 million in the fourth quarter of 2023, and the company said revenue was below its guidance. GAAP diluted EPS from continuing operations fell to $0.15 from $0.84 a year earlier, and non-GAAP EPS was $0.58 versus $1.24, so profit declined sharply. The company guided second-quarter 2024 revenue to $350 million plus or minus $20 million.
Q1 2024 revenue was $327.5 million, compared with $425.0 million in Q1 2023 and $405.3 million in Q4 2023.
GAAP diluted EPS from continuing operations was $0.15, versus $0.84 in Q1 2023; non-GAAP diluted EPS was $0.58, versus $1.24.
Q1 2024 GAAP net income from continuing operations was $5.8 million, compared with $31.8 million a year earlier.
Q2 2024 guidance: revenue of $350 million +/- $20 million; GAAP EPS of $0.25 +/- $0.25; non-GAAP EPS of $0.73 +/- $0.25.
Advanced Energy reported fourth-quarter and full-year 2023 results on February 6, 2024. Q4 revenue of $405.3 million was down from $490.7 million a year earlier, and full-year 2023 revenue fell 10% from $1.85 billion, while GAAP EPS from continuing operations dropped to $3.46 from $5.35. For shareholders, the year-over-year declines in revenue and earnings are the main takeaway, and the company guided first-quarter 2024 revenue to a range of $335 million to $365 million.
Q4 2023 revenue was $405.3 million, versus $410.0 million in Q3 2023 and $490.7 million in Q4 2022
Q4 2023 GAAP diluted EPS from continuing operations was $1.01, including a $25.6 million tax benefit and an $18.1 million restructuring and impairment charge
Full-year 2023 GAAP diluted EPS from continuing operations was $3.46, versus $5.35 in 2022; non-GAAP EPS was $4.88 versus $6.49
Q1 2024 revenue guidance is $335 million to $365 million, with non-GAAP EPS guidance of $0.50 to $0.90
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