AEIS - Advanced Energy slumps 10% on Q1 miss

Advanced Energy ([[AEIS]] -9.6%) reports Q1 of $352M, an increase of 11.4% Y/Y, above the guidance midpoint of $350M.GAAP net income was $38.4M or $0.99 per diluted share, misses consensus by $0.10.Non-GAAP net income was $49.7M or $1.29 per diluted share, beats consensus by $0.03.The company generated $54.3M of operating cash from continuing operations.Guidance Q2 2021:“Financial results for the first quarter reflected strong market demand, with double-digit year over year revenue growth and a record quarter in Semiconductor. We see demand increasing through the balance of the year with tailwinds across all of our markets. We are focused on executing our strategy to grow faster than the market and accelerate earnings growth.”  said President and CEO Steve Kelley. SA Contributor Stephen Simpson gives the stock a Bullish rating and writes: 'Advanced Energy Industries Shares Still Offer Upside'Previously: Advanced Energy EPS beats by $0.03, misses on revenue (May 5)

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Advanced Energy slumps 10% on Q1 miss