Welcome to our dedicated page for Benchmark Electronics news (Ticker: BHE), a resource for investors and traders seeking the latest updates and insights on Benchmark Electronics stock.
Benchmark Electronics, Inc. (NYSE: BHE) is a leading provider of comprehensive electronic manufacturing services (EMS) and precision technology solutions. As a multi-national corporation with a revenue exceeding $2.47 billion, Benchmark operates manufacturing sites across various global locations, including the United States, Mexico, Brazil, Romania, Netherlands, China, Singapore, Malaysia, and Thailand.
Benchmark specializes in offering a full suite of services that span the entire product lifecycle. These include design, manufacturing, testing, system assembly, order fulfillment, and warranty repair services tailored for a diverse range of electronic original equipment manufacturers (OEMs). The company's key market sectors consist of high-end computing and servers, medical technologies, telecommunications, test and measurement, industrial controls, and military/aerospace.
Benchmark's success is underpinned by its advanced technology, quality systems, and robust supply chain management capabilities. The corporation's extensive global footprint allows it to leverage economies of scale, benefiting from optimized purchasing power and world-class manufacturing processes.
In recent years, Benchmark has achieved notable milestones, including navigating supply chain challenges and operational efficiencies that have bolstered its financial performance. For example, in the second quarter of 2023, Benchmark exceeded its revenue and non-GAAP operating income guidance ranges, showcasing its resilience and strategic execution.
Currently, the corporation is well-positioned for future growth, with ongoing investments in diversified portfolios and high-complexity growth opportunities. Despite dynamic market conditions, Benchmark remains focused on delivering continued operating leverage and capturing significant market share within its targeted sectors.
Financially, Benchmark has demonstrated solid performance, with continuous improvements in gross and operating margins, positive cash flow from operations, and strategic reductions in inventory. The company's commitment to operational efficiency and strategic growth ensures long-term value for both customers and shareholders.
Benchmark's global operations, cutting-edge technology services, and high-quality manufacturing capabilities underline its significant role in the EMS industry. With a dedicated team and strong leadership, the company continues to drive innovation and efficiency, maintaining its status as a trusted partner for both established and emerging markets.
Benchmark Electronics (NYSE: BHE) reported Q3 2024 financial results with revenue of $658 million, down from $720 million in Q3 2023. The company generated $39 million in operating cash flow and $29 million in free cash flow. GAAP earnings per share were $0.42, while non-GAAP EPS reached $0.57. The company maintained strong margins with GAAP operating margin at 4.3% and non-GAAP at 5.3%. Semi-Cap sector led revenue at 28%, while decreases were noted in Medical and AC&C sales. For Q4 2024, Benchmark guides revenue between $640-680 million with non-GAAP EPS of $0.53-$0.59.
Benchmark Electronics (NYSE: BHE) has announced that it will release its third quarter 2024 financial results on Wednesday, October 30, 2024, after the market closes. The company will host a conference call and live audio webcast to discuss these results on the same day at 5:00 p.m. Eastern Time.
Investors and interested parties can access the earnings call through a toll-free dial-in number (800-343-4136) with the conference ID BE3Q24. Additionally, a live webcast of the call, along with supporting materials, will be available on the Benchmark Investor Relations website at ir.bench.com or through the provided webcast link.
Following the call, a webcast replay will be accessible on the company's website for 12 months. Pre-registration for the event is recommended.
Benchmark Electronics (NYSE: BHE) has appointed Bryan Schumaker as its new Chief Financial Officer, effective October 8, 2024. Schumaker brings over 20 years of financial and leadership experience to the role. He previously served as CFO at SOURCE Global, where he transformed financial operations and contributed to quadrupling revenue growth. His prior roles include CFO positions at TPI Composites and 8point3 Energy Partners.
At Benchmark, Schumaker will oversee financial operations, strategic planning, capital structure management, and investor relations. His appointment aligns with Benchmark's commitment to enhancing leadership strength as the company expands operations. Schumaker holds a Bachelor's degree in Accounting and is a Certified Public Accountant.
Benchmark Electronics (NYSE: BHE) celebrated the grand opening of its fourth facility in Penang, Malaysia. This new 8,000+ sq. meter facility will focus on serving customers in semiconductor capital equipment and commercial aerospace sectors. It enhances Benchmark's capacity and expertise in the APAC region, allowing for vertical integration of key capabilities.
The expansion aims to support the anticipated growth of the semiconductor industry in 2025 and beyond. The facility will offer advanced capabilities such as e-beam welding, large form factor 5-axis machining, and type-2 cleaning. It will also establish one of the largest welding and frame manufacturing centers in the region.
Benchmark plans to hire up to 200 people over the next few years, adding to its current workforce of about 1,500 in Penang. This expansion brings Benchmark's total production space in Penang to over 40,000 sq. meters.
Benchmark Electronics (NYSE: BHE) has announced a quarterly cash dividend of $0.17 per share for the third quarter of 2024. The dividend will be payable on October 11, 2024, to shareholders of record at the close of business on September 30, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders through regular dividend payments. The decision to maintain the dividend at this level may indicate stability in Benchmark Electronics' financial position and confidence in its future prospects.
Benchmark Electronics (NYSE: BHE) reported solid Q2 2024 results with revenue of $666 million and GAAP earnings per share of $0.43. The company generated $56 million in operating cash flow and $47 million in free cash flow. Gross margin stood at 10.2%, while GAAP and non-GAAP operating margins were 4.1% and 5.1%, respectively. The Board of Directors increased the quarterly dividend from $0.165 to $0.17 per share. Despite market uncertainties, Benchmark remains focused on executing for customers, protecting margins, reducing inventories, and delivering positive free cash flow, which is now expected to exceed $120 million in FY 2024. The company provided Q3 2024 guidance with revenue between $630-$670 million and diluted GAAP EPS between $0.36-$0.42.
Benchmark Electronics (NYSE: BHE) has announced it will release its second quarter 2024 financial results on Tuesday, July 30, 2024, after the market closes. The company will host a conference call and live audio webcast on the same day at 5:00 p.m. Eastern Time to discuss the results.
Investors and analysts can access the call via a toll-free dial-in number (800-791-4799) using the conference ID 61229. A live webcast of the call, along with supporting materials, will be available on the Benchmark Investor Relations website. Pre-registration for the webcast is recommended.
Following the call, a webcast replay will be accessible on the company's website for 12 months, providing an opportunity for those unable to attend the live event to review the discussion and results.
Benchmark Electronics (NYSE: BHE) has declared a second quarter 2024 cash dividend of $0.165 per share.
This dividend will be payable on July 12, 2024, to shareholders of record as of June 28, 2024. The announcement was made on June 10, 2024, by the company's Board of Directors.
Benchmark Electronics, Inc. reported strong financial results for the first quarter of 2024, with revenue of $676 million, positive free cash flow, and earnings per share of $0.38. The company's focus on operational efficiency and strategic investments led to year-over-year improvements in gross and operating margins. Despite revenue decreases in certain sectors, the company remains committed to delivering long-term value to customers and shareholders.
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