Advanced Energy Industries Inc 10-Q for FY2024 Q3

Advanced Energy Industries Inc (AEIS)

10-Q 2024-10-30 For: 2024-09-30

Added on April 11, 2026

About this 10-Q

Advanced Energy Industries Inc filed this 10-Q on October 30, 2024, covering the quarter ended September 30, 2024 (FY2024 Q3).

Headline figures

Quarter ended September 30, 2024, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $374.22M; down 8.7% from $409.99M a year earlier
Net loss: $14.91M; compared with net income of $32.72M a year earlier
Diluted EPS: -$0.40; compared with $0.86 a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended September 30, 2024
or
☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from to

Delaware	84-0846841
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1595 Wynkoop Street, Suite 800, Denver, Colorado	80202
(Address of principal executive offices)	(Zip Code)

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value	AEIS	Nasdaq Global Select Market



	PART I FINANCIAL INFORMATION

ITEM 1.	UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS	3

	Consolidated Balance Sheets	3

	Consolidated Statements of Operations	4

	Consolidated Statements of Comprehensive Income (Loss)	5

	Consolidated Statements of Stockholders’ Equity	6

	Consolidated Statements of Cash Flows	7

	Notes to Consolidated Financial Statements	8

ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	25

ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	42

ITEM 4.	CONTROLS AND PROCEDURES	43

	PART II OTHER INFORMATION

ITEM 1.	LEGAL PROCEEDINGS	43

ITEM 1A.	RISK FACTORS	43

ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	44

ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	44

ITEM 4.	MINE SAFETY DISCLOSURES	44

ITEM 5.	OTHER INFORMATION	44

ITEM 6.	EXHIBITS	45

	SIGNATURES	46


	September 30,		December 31,
	2024		2023
ASSETS
Current assets:
Cash and cash equivalents	$	657,288	$	1,044,556
Accounts receivable, net		259,399		282,430
Inventories		377,740		336,137
Other current assets		51,281		48,771
Total current assets		1,345,708		1,711,894
Property and equipment, net		181,875		167,665
Operating lease right-of-use assets		86,003		95,432
Other assets		134,948		136,448
Intangible assets, net		145,290		161,478
Goodwill		299,036		283,840
TOTAL ASSETS	$	2,192,860	$	2,556,757

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	133,006	$	141,850
Accrued payroll and employee benefits		62,743		73,595
Other accrued expenses		66,048		66,662
Customer deposits and other		11,351		15,997
Current portion of long-term debt		—		20,000
Current portion of operating lease liabilities		18,360		17,744
Total current liabilities		291,508		335,848
Long-term debt, net		564,000		895,679
Operating lease liabilities		80,264		89,330
Pension benefits		50,374		49,135
Other long-term liabilities		42,322		42,583
Total liabilities		1,028,468		1,412,575

Commitments and contingencies (Note 15)

Stockholders' equity:
Preferred stock, $0.001 par value, 1,000 shares authorized, none issued and outstanding		—		—
Common stock, $0.001 par value, 70,000 shares authorized; 37,671 and 37,318 issued and outstanding at September 30, 2024 and December 31, 2023, respectively		38		37
Additional paid-in capital		180,529		148,300
Accumulated other comprehensive income		2,089		6,114
Retained earnings		981,736		989,731
Total stockholders' equity		1,164,392		1,144,182
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,192,860	$	2,556,757



	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenue, net	$	374,217	$	409,991	$	1,066,639	$	1,250,539
Cost of revenue		240,149		262,650		692,001		801,007
Gross profit		134,068		147,341		374,638		449,532

Operating expenses:
Research and development		53,561		50,391		155,732		153,414
Selling, general, and administrative		56,237		55,131		166,374		166,102
Amortization of intangible assets		6,772		7,049		20,519		21,186
Restructuring, asset impairments, and other charges		28,546		4,709		29,416		8,906
Total operating expenses		145,116		117,280		372,041		349,608
Operating income (loss)		(11,048)		30,061		2,597		99,924

Interest income		11,018		6,396		35,782		14,282
Interest expense		(6,378)		(3,780)		(20,461)		(9,368)
Other income (expense), net		(8,139)		1,848		(6,122)		1,425
Income (loss) from continuing operations, before income tax		(14,547)		34,525		11,796		106,263
Income tax provision (benefit)		(400)		874		4,552		13,405
Income (loss) from continuing operations		(14,147)		33,651		7,244		92,858
Loss from discontinued operations, net of income tax		(758)		(930)		(1,904)		(2,076)
Net income (loss)	$	(14,905)	$	32,721	$	5,340	$	90,782

Basic weighted-average common shares outstanding		37,532		37,575		37,455		37,541
Diluted weighted-average common shares outstanding		37,532		37,854		37,785		37,842

Earnings (loss) per share:
Continuing operations:
Basic earnings per share	$	(0.38)	$	0.90	$	0.19	$	2.47
Diluted earnings per share	$	(0.38)	$	0.89	$	0.19	$	2.45
Discontinued operations:
Basic loss per share	$	(0.02)	$	(0.02)	$	(0.05)	$	(0.06)
Diluted loss per share	$	(0.02)	$	(0.02)	$	(0.05)	$	(0.05)
Net income (loss):
Basic earnings (loss) per share	$	(0.40)	$	0.87	$	0.14	$	2.42
Diluted earnings (loss) per share	$	(0.40)	$	0.86	$	0.14	$	2.40



	Common Stock
						Accumulated
				Additional		Other				Total
				Paid-in		Comprehensive		Retained		Stockholders'
	Shares	Amount		Capital		Income (Loss)		Earnings		Equity
Balances, December 31, 2022	37,429	$	37	$	134,640	$	16,320	$	915,270	$	1,066,267
Stock issued from equity plans	100		—		(1,991)		—		—		(1,991)
Stock-based compensation	—		—		6,543		—		—		6,543
Dividends declared ($0.10 per share)	—		—		—		—		(3,814)		(3,814)
Other comprehensive loss	—		—		—		(2,013)		—		(2,013)
Net income	—		—		—		—		30,921		30,921
Balances, March 31, 2023	37,529		37		139,192		14,307		942,377		1,095,913
Stock issued from equity plans	121		1		606		—		—		607
Stock-based compensation	—		—		7,423		—		—		7,423
Dividends declared ($0.10 per share)	—		—		—		—		(3,778)		(3,778)
Other comprehensive loss	—		—		—		(2,026)		—		(2,026)
Net income	—		—		—		—		27,140		27,140
Balances, June 30, 2023	37,650		38		147,221		12,281		965,739		1,125,279
Stock issued from equity plans	8		—		130		—		—		130
Stock-based compensation	—		—		7,506		—		—		7,506
Share repurchases	(378)		(1)		(1,530)		—		(38,469)		(40,000)
Dividends declared ($0.10 per share)	—		—		—		—		(3,830)		(3,830)
Other comprehensive loss	—		—		—		(6,891)		—		(6,891)
Warrants and note hedges, net	—		—		(40,135)		—		—		(40,135)
Tax impact of convertible notes and note hedges	—		—		26,091		—		—		26,091
Net income	—		—		—		—		32,721		32,721
Balances, September 30, 2023	37,280	$	37	$	139,283	$	5,390	$	956,161	$	1,100,871

Balances, December 31, 2023	37,318	$	37	$	148,300	$	6,114	$	989,731	$	1,144,182
Stock issued from equity plans	116		—		(5,327)		—		—		(5,327)
Stock-based compensation	—		—		10,591		—		—		10,591
Dividends declared ($0.10 per share)	—		—		—		—		(3,810)		(3,810)
Other comprehensive loss	—		—		—		(7,969)		—		(7,969)
Deferred compensation	—		—		79		—		(79)		—
Net income	—		—		—		—		5,216		5,216
Balances, March 31, 2024	37,434		37		153,643		(1,855)		991,058		1,142,883
Stock issued from equity plans	93		—		(173)		—		—		(173)
Stock issuance (Note 2. Acquisition)	144		1		4,463		—		—		4,464
Stock-based compensation	—		—		10,720		—		—		10,720
Dividends declared ($0.10 per share)	—		—		—		—		(3,848)		(3,848)
Other comprehensive loss	—		—		—		(4,968)		—		(4,968)
Deferred compensation	—		—		1,033		—		(64)		969
Net income	—		—		—		—		15,029		15,029
Balances, June 30, 2024	37,671		38		169,686		(6,823)		1,002,175		1,165,076
Stock issued from equity plans	19		—		(529)		—		—		(529)
Stock-based compensation	—		—		11,481		—		—		11,481
Share repurchases	(19)		—		(89)		—		(1,681)		(1,770)
Dividends declared ($0.10 per share)	—		—		—		—		(3,871)		(3,871)
Other comprehensive income	—		—		—		8,912		—		8,912
Deferred compensation	—		—		(20)		—		18		(2)
Net loss	—		—		—		—		(14,905)		(14,905)
Balances, September 30, 2024	37,671	$	38	$	180,529	$	2,089	$	981,736	$	1,164,392


	Consideration
Cash paid at closing	$	14,301
Advanced Energy common stock		4,463
Settlement of payables		(654)
Indemnity holdback payable on the one-year anniversary		1,500
Total fair value of purchase consideration	$	19,610


	Fair Value
Cash	$	539
Current assets and liabilities, net		457
Property and equipment		42
Deferred tax liability		(2,229)
Intangible assets		4,200
Goodwill (not deductible for tax purposes)		16,601
Total fair value of net assets acquired	$	19,610


		Foreign Currency Translation		Change in Fair Value of Cash Flow Hedges		Defined Employee Benefit Plan		Total
Balance at December 31, 2022	$	(12,823)	$	11,848	$	17,295	$	16,320
Other comprehensive income (loss) prior to reclassifications		(196)		595		—		399
Amounts reclassified from accumulated other comprehensive income (loss)		—		(2,412)		—		(2,412)
Balance at March 31, 2023		(13,019)		10,031		17,295		14,307
Other comprehensive income (loss) prior to reclassifications		(1,533)		2,555		—		1,022
Amounts reclassified from accumulated other comprehensive income (loss)		—		(2,756)		(292)		(3,048)
Balance at June 30, 2023		(14,552)		9,830		17,003		12,281
Other comprehensive income (loss) prior to reclassifications		(5,069)		1,036		—		(4,033)
Amounts reclassified from accumulated other comprehensive income (loss)		—		(2,858)		—		(2,858)
Balance at September 30, 2023	$	(19,621)	$	8,008	$	17,003	$	5,390


	Three Months Ended September 30,				Nine Months Ended September 30,				To Caption on Consolidated
	2024		2023			2024		2023	Statements of Operations
Foreign currency translation	$	1,585	$	—	$	1,585	$	—	Other income (expense), net
Cash flow hedges		(2,182)		(2,858)		(7,718)		(8,026)	Interest expense
Defined employee benefit plan		477		—		426		(292)	Other income (expense), net
Total reclassifications	$	(120)	$	(2,858)	$	(5,707)	$	(8,318)


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2024		2023		2024		2023
Amount paid or accrued to repurchase shares	$	1,770	$	40,000	$	1,770	$	40,000
Number of shares repurchased		19		378		19		378
Average repurchase price per share	$	93.58	$	105.74	$	93.58	$	105.74


		September 30, 2024
Description	Balance Sheet Classification	Level 1		Level 2		Level 3		Total Fair Value
Certificates of deposit	Other current assets	$	—		157		—	$	157
Foreign currency forward contracts	Other accrued expenses	$	—		168		—	$	168
Investments	Other assets	$	—		9,668		—	$	9,668


		December 31, 2023
Description	Balance Sheet Classification	Level 1		Level 2		Level 3		Total Fair Value
Certificates of deposit	Other current assets	$	—		163		—	$	163
Interest rate swaps	Other assets	$	—		6,995		—	$	6,995
Investments	Other assets	$	—		5,952		—	$	5,952


December 31, 2023	$	1,762
Additions		94
Deductions - write-offs, net of recoveries		(399)
September 30, 2024	$	1,457


	September 30, 2024
	Gross Carrying		Accumulated		Net Carrying		Weighted Average Remaining
	Amount		Amortization		Amount		Useful Life (in years)
Technology	$	100,988	$	(69,407)	$	31,581	7.1
Customer relationships		170,486		(68,944)		101,542	8.8
Trademarks and other		27,219		(15,052)		12,167	4.9
Total	$	298,693	$	(153,403)	$	145,290	8.1

	December 31, 2023
	Gross Carrying		Accumulated		Net Carrying		Weighted Average Remaining
	Amount		Amortization		Amount		Useful Life (in years)
Technology	$	97,961	$	(60,412)	$	37,549	6.8
Customer relationships		168,685		(58,835)		109,850	9.5
Trademarks and other		27,141		(13,062)		14,079	5.6
Total	$	293,787	$	(132,309)	$	161,478	8.5


	Nine Months Ended September 30,
	2024		2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	5,340	$	90,782
Less: loss from discontinued operations, net of income tax		(1,904)		(2,076)
Income from continuing operations, net of income tax		7,244		92,858
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		51,824		49,764
Stock-based compensation		34,303		22,813
Amortization and write off of debt issuance costs and debt discount		3,036		378
Deferred income tax benefit		305		(996)
Other		1,041		394
Changes in operating assets and liabilities, net of assets acquired
Accounts receivable, net		23,604		35,135
Inventories		(41,187)		9,025
Other assets		576		4,121
Accounts payable		(8,778)		(26,203)
Other liabilities and accrued expenses		(21,718)		(59,049)
Net cash from operating activities from continuing operations		50,250		128,240
Net cash from operating activities from discontinued operations		(2,191)		(3,307)
Net cash from operating activities		48,059		124,933

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of long-term investments		(2,698)		(3,447)
Purchases of property and equipment		(44,045)		(46,782)
Acquisitions, net of cash acquired		(13,762)		—
Net cash from investing activities		(60,505)		(50,229)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term borrowings		—		575,000
Payment of fees for long-term borrowings		(105)		(12,985)
Payments on long-term borrowings		(355,000)		(15,000)
Dividend payments		(11,529)		(11,422)
Payment for purchase of note hedges		—		(115,000)
Proceeds from sale of warrants		—		74,865
Purchase and retirement of common stock		(1,770)		(40,000)
Net payments related to stock-based awards		(6,029)		(1,254)
Net cash from financing activities		(374,433)		454,204


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Semiconductor Equipment	$	197,497	$	185,033	$	565,721	$	552,419
Industrial and Medical		76,837		115,226		239,359		365,849
Data Center Computing		80,653		68,286		195,519		187,021
Telecom and Networking		19,230		41,446		66,040		145,250
Total	$	374,217	$	409,991	$	1,066,639	$	1,250,539


	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
North America	$	175,691	47.0	%	$	184,783	45.1	%	$	482,564	45.2	%	$	537,241	42.9	%
Asia		163,212	43.6			178,190	43.5			467,110	43.8			543,871	43.5
Europe		34,892	9.3			46,088	11.2			115,258	10.8			164,867	13.2
Other		422	0.1			930	0.2			1,707	0.2			4,560	0.4
Total	$	374,217	100.0	%	$	409,991	100.0	%	$	1,066,639	100.0	%	$	1,250,539	100.0	%


	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
United States	$	134,614	35.9	%	$	156,710	38.2	%	$	371,925	34.9	%	$	457,325	36.6	%
Mexico		40,953	10.9			27,464	6.7			109,768	10.3			77,953	6.2
Taiwan		40,990	11.0			33,136	8.1			119,571	11.2			98,842	7.9
China		28,725	7.7			41,391	10.1			70,298	6.6			132,039	10.6
All others		128,935	34.5			151,290	36.9			395,077	37.0			484,380	38.7
Total	$	374,217	100.0	%	$	409,991	100.0	%	$	1,066,639	100.0	%	$	1,250,539	100.0	%


Year Ending December 31,
2024 (remaining)	$	5,573
2025		22,148
2026		20,063
2027		17,815
2028		16,569
Thereafter		63,122
Total	$	145,290


December 31, 2023	$	283,840
Additions from acquisition		16,601
Foreign currency translation and other		(1,405)
September 30, 2024	$	299,036


	2024 Plan		2023 Plan		2022 Plan		Other		Total
December 31, 2023	$	—	$	14,224	$	2,930	$	188	$	17,342
Costs incurred and charged to expense		28,454		(698)		88		—		27,844
Costs paid		(855)		(7,653)		(3,018)		(188)		(11,714)
Foreign currency translation		457		—		—		—		457
September 30, 2024	$	28,056	$	5,873	$	—	$	—	$	33,929


	Cumulative Cost Through
	September 30, 2024
	2024 Plan		2023 Plan		2022 Plan		Total
Severance and related charges	$	28,020	$	16,405	$	14,075	$	58,500
Facility relocation and closure charges		434		—		—		434
Total restructuring charges	$	28,454	$	16,405	$	14,075	$	58,934


December 31, 2023	$	4,007
Net increases to accruals		2,088
Warranty expenditures		(1,640)
Effect of changes in exchange rates		155
September 30, 2024	$	4,610


Year Ending December 31,
2024 (remaining)	$	6,127
2025		22,557
2026		17,077
2027		13,616
2028		13,171
Thereafter		50,930
Total lease payments		123,478
Less: Interest		(24,854)
Present value of lease liabilities	$	98,624


		September 30, 2024
Shares available for future issuance under the 2023 Incentive Plan		1,809
Shares available for future issuance under the ESPP		556


	Nine Months Ended September 30, 2024
		Weighted-
		Average
	Number of	Grant Date
	RSUs	Fair Value
RSUs outstanding at beginning of period	917	$	85.96
RSUs granted	546	$	104.79
RSUs vested	(286)	$	90.22
RSUs forfeited	(87)	$	77.73
RSUs outstanding at end of period	1,090	$	94.92


	Three Months Ended September 30,								Change 2024 v. 2023
	2024				2023				Dollar		Percent
Semiconductor Equipment	$	197,497	52.8	%	$	185,033	45.1	%	$	12,464	6.7	%
Industrial and Medical		76,837	20.5			115,226	28.1			(38,389)	(33.3)	%
Data Center Computing		80,653	21.6			68,286	16.7			12,367	18.1	%
Telecom and Networking		19,230	5.1			41,446	10.1			(22,216)	(53.6)	%
Total	$	374,217	100.0	%	$	409,991	100.0	%	$	(35,774)	(8.7)	%

	Nine Months Ended September 30,								Change 2024 v. 2023
	2024				2023				Dollar		Percent
Semiconductor Equipment	$	565,721	53.0	%	$	552,419	44.2	%	$	13,302	2.4	%
Industrial and Medical		239,359	22.4			365,849	29.3			(126,490)	(34.6)	%
Data Center Computing		195,519	18.3			187,021	15.0			8,498	4.5	%
Telecom and Networking		66,040	6.3			145,250	11.5			(79,210)	(54.5)	%
Total	$	1,066,639	100.0	%	$	1,250,539	100.0	%	$	(183,900)	(14.7)	%


Reconciliation of non-GAAP measure
Operating expenses and operating income from continuing	Three Months Ended September 30,				Nine Months Ended September 30,
operations, excluding certain items (in thousands)	2024		2023		2024		2023
Gross profit from continuing operations, as reported	$	134,068	$	147,341	$	374,638	$	449,532
Adjustments to gross profit:
Stock-based compensation		1,046		615		2,931		1,587
Facility expansion, relocation costs and other		868		171		2,337		1,188
Acquisition-related costs		—		44		(13)		194
Non-GAAP gross profit		135,982		148,171		379,893		452,501
Non-GAAP gross margin		36.3%		36.1%		35.6%		36.2%

Operating expenses from continuing operations, as reported		145,116		117,280		372,041		349,608
Adjustments:
Amortization of intangible assets		(6,772)		(7,049)		(20,519)		(21,186)
Stock-based compensation		(10,868)		(7,460)		(31,372)		(21,226)
Acquisition-related costs		(1,581)		(611)		(4,781)		(2,654)
Facility expansion, relocation costs and other		(488)		—		(488)		—
Restructuring, asset impairments, and other charges		(28,546)		(4,898)		(29,416)		(9,095)
Non-GAAP operating expenses		96,861		97,262		285,465		295,447
Non-GAAP operating income	$	39,121	$	50,909	$	94,428	$	157,054
Non-GAAP operating margin		10.5%		12.4%		8.9%		12.6%


Reconciliation of non-GAAP measure
Income from continuing operations, excluding certain items	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2024		2023		2024		2023
Income (loss) from continuing operations, less non-controlling interest, net of income tax	$	(14,147)	$	33,651	$	7,244	$	92,858
Adjustments:
Amortization of intangible assets		6,772		7,049		20,519		21,186
Acquisition-related costs		1,581		655		4,768		2,848
Facility expansion, relocation costs, and other		1,356		171		2,825		1,188
Restructuring, asset impairments, and other charges		28,546		4,898		29,416		9,095
Unrealized foreign currency loss (gain)		3,993		(1,604)		691		(2,817)
Other costs included in other income (expense), net		3,665		(1,516)		3,665		(1,516)
Tax effect of non-GAAP adjustments, including certain discrete tax benefits		(4,172)		(1,101)		(5,292)		(3,273)
Non-GAAP income, net of income tax, excluding stock-based compensation		27,594		42,203		63,836		119,569
Stock-based compensation, net of tax		9,412		6,299		27,099		17,794
Non-GAAP income, net of income tax	$	37,006	$	48,502	$	90,935	$	137,363

Reconciliation of non-GAAP measure
Weighted-average common shares adjusted for stock awards	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Diluted weighted-average common shares outstanding		37,532		37,854		37,785		37,842
Dilutive effect of stock awards		360		-		-		-
Non-GAAP diluted weighted-average common shares outstanding		37,892		37,854		37,785		37,842


Month	Total Number of Shares Purchased		Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Maximum Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs

	(in thousands, except price per share data)
July 1 to July 31, 2024		—	$	—		—	$	199,192
August 1 to August 31, 2024		—	$	—		—	$	199,192
September 1 to September 30, 2024		19	$	93.58		19	$	197,404

Exhibit		Incorporated by Reference
Number	Description	Form	File No.	Exhibit	Filing Date

10.1	Amendment No. 4 to Credit Agreement by and among Advanced Energy Industries, Inc., the guarantors party thereto, Bank of America, NA as the administrative agent, and the lenders party thereto	8-K	000-26966	10.1	Sep. 11, 2024

31.1	Certification of the Chief Executive Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.				Filed herewith

31.2	Certification of the Chief Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.				Filed herewith

32.1	Certification of the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.				Filed herewith

32.2	Certification of the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.				Filed herewith

101.INS	Inline XBRL Instance Document (The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)				Filed herewith

101.SCH	Inline XBRL Taxonomy Extension Schema Document.				Filed herewith

101.CAL	Inline XBRL Taxonomy Extension Calculation Link base Document.				Filed herewith

101.DEF	Inline XBRL Taxonomy Extension Definition Link base Document.				Filed herewith

101.LAB	Inline XBRL Taxonomy Extension Label Link base Document.				Filed herewith

101.PRE	Inline XBRL Taxonomy Extension Presentation Link base Document.				Filed herewith

104	Cover Page Interactive Data File (Formatted in Inline XBRL and contained in Exhibit 101)				Filed herewith


		ADVANCED ENERGY INDUSTRIES, INC.

Dated:	October 30, 2024	/s/ Paul Oldham
		Paul Oldham
		Chief Financial Officer and Executive Vice President

		/s/ Bernard R. Colpitts, Jr.
		Bernard R. Colpitts, Jr.
		Chief Accounting Officer and Controller


	/s/ Stephen D. Kelley
	Stephen D. Kelley
	Chief Executive Officer


	/s/ Paul Oldham
	Paul Oldham
	Chief Financial Officer & Executive Vice President