Advanced Energy (AEIS) Q1 Earnings Miss Estimates, Revenues Fall Y/Y

Advanced Energy Industries (AEIS) reported non-GAAP earnings of 58 cents per share in first-quarter 2024, missing the Zacks Consensus Estimate by 18.31%. The bottom-line figure declined 53.2% on a year-over-year basis.Revenues of $327 million lagged the Zacks Consensus Estimate by 8.35% and declined 23% year over year, primarily due to the weakness across non-semi markets.End Market in DetailSemiconductor Equipment: Revenues (54.9% of total revenues) generated from the market fell 7.4% year over year to$ 17 ...