Benchmark Electronics (NYSE:BHE) Releases Quarterly Earnings Results

Key Points

• Benchmark reported Q1 EPS of $0.58 versus a $0.56 consensus and revenue of $677.3M (+7.1% YoY), and updated Q2 guidance to $0.65–$0.71 per share.
• Raised full‑year guidance to expected revenue growth of 9%–10%, citing mid‑teens Semi‑Cap momentum and a 41% YoY jump in AC&C driven by AI and liquid‑cooling wins, with Penang 4 capacity slated to start in Q3.
• Healthy cash and shareholder returns — net cash positive (~$121M) with $325M cash on hand, $29M free cash flow in Q1 and ongoing buybacks/dividend ($0.17 quarterly), although management flagged select memory lead‑time pressures.

Benchmark Electronics (NYSE:BHE - Get Free Report) posted its quarterly earnings results on Wednesday. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02, FiscalAI reports. The company had revenue of $677.28 million for the quarter, compared to analysts' expectations of $676.25 million. Benchmark Electronics had a return on equity of 6.48% and a net margin of 0.93%.The firm's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. Benchmark Electronics updated its Q2 2026 guidance to 0.650-0.710 EPS.

Here are the key takeaways from Benchmark Electronics' conference call:

• Raised full‑year guidance — company now expects revenue growth of 9%–10% (up from mid‑single digits) and says EPS will outpace revenue as execution and expense discipline continue.
• Semi‑Cap momentum — Q1 was +12% sequential in Semi‑Cap, management expects mid‑teens growth for the sector and Penang 4 (higher‑margin PT capacity) to begin operations in Q3 to support 2026/2027 demand.
• AC&C / AI ramping — AC&C grew 41% YoY driven by AI‑related and liquid‑cooling wins for enterprise AI clusters and HPC, with visibility improving as these programs ramp.
• Healthy cash and shareholder returns — $121M net cash positive, $29M free cash flow in Q1, $325M cash balance, $6M in buybacks and dividends this quarter and ~$117M remaining repurchase authority.
• Supply chain pressure — management noted select component lead times are increasing in pockets (notably in memory), which could create near‑term sourcing challenges.

Benchmark Electronics Stock Up 4.8%

NYSE:BHE traded up $3.30 during trading hours on Wednesday, hitting $72.11. 1,141,211 shares of the company's stock traded hands, compared to its average volume of 334,352. The firm has a market cap of $2.59 billion, a P/E ratio of 104.51 and a beta of 0.97. Benchmark Electronics has a twelve month low of $32.11 and a twelve month high of $72.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.52 and a current ratio of 2.28. The stock's fifty day moving average price is $59.26 and its two-hundred day moving average price is $51.23.

Benchmark Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Benchmark Electronics's payout ratio is presently 98.55%.

Insiders Place Their Bets

In related news, CEO Jeff Benck sold 25,000 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $58.19, for a total transaction of $1,454,750.00. Following the transaction, the chief executive officer directly owned 398,180 shares of the company's stock, valued at approximately $23,170,094.20. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 25,934 shares of company stock worth $1,510,843 over the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in shares of Benchmark Electronics by 14.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,688,298 shares of the technology company's stock valued at $103,634,000 after acquiring an additional 338,081 shares in the last quarter. Earnest Partners LLC purchased a new position in shares of Benchmark Electronics during the 4th quarter valued at $74,940,000. State Street Corp grew its holdings in shares of Benchmark Electronics by 0.7% during the 4th quarter. State Street Corp now owns 1,389,766 shares of the technology company's stock valued at $59,661,000 after acquiring an additional 9,724 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Benchmark Electronics by 0.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,229,825 shares of the technology company's stock valued at $47,754,000 after acquiring an additional 6,868 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Benchmark Electronics by 10.8% during the 4th quarter. Wellington Management Group LLP now owns 561,495 shares of the technology company's stock valued at $24,010,000 after acquiring an additional 54,799 shares in the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BHE shares. Lake Street Capital set a $62.00 target price on shares of Benchmark Electronics in a report on Wednesday, February 4th. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Benchmark Electronics in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Benchmark Electronics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 28th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.00.

About Benchmark Electronics

Benchmark Electronics, Inc is a global provider of comprehensive electronics manufacturing services (EMS) and integrated engineering solutions. The company offers a full suite of services that span the entire product lifecycle, from early‐stage design and prototyping to high‐volume production and aftermarket support. Benchmark serves diverse end markets, including industrial automation, medical devices, communications, aerospace and defense, and semiconductor equipment.

At the core of Benchmark's offering are printed circuit board assemblies (PCBA), system integration, box build assemblies and turnkey manufacturing.

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