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 reported fourth quarter 2022 revenue of $751 million, up 19% year-over-year. GAAP operating income rose 45%, leading to a GAAP diluted EPS of $0.60, reflecting a 71% increase compared to the previous year. For the full year, revenue reached $2,886 million, a 28% increase, with notable growth in Advanced Computing and Next Gen Communications at 45%. The company reported a GAAP diluted EPS of $1.91 for 2022, up 93%. Looking ahead, Q1 2023 guidance estimates revenue between $640 and $680 million with EPS projections of $0.35 to $0.40.
Benchmark Electronics (NYSE: BHE) will report its fourth quarter 2022 results on February 1, 2023, after the market closes. The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss these results. Interested parties can access the live webcast and supporting materials on the Benchmark Investor Relations website at ir.bench.com. A replay will be available post-event. Benchmark offers solutions across multiple industries, including commercial aerospace, defense, and medical equipment, supported by its optimized global supply chain.
Benchmark Electronics (NYSE: BHE) announced the appointment of Douglas Britt as an independent director on January 9, 2023, following the retirement of Douglas Duncan, a board member since 2006. Britt brings extensive operational and strategic experience, previously serving as CEO of Boyd Corporation and holding leadership roles at Flex and other firms. His expertise is expected to enhance Benchmark's strategic objectives. The board expressed gratitude for Duncan's contributions over 16 years while welcoming Britt's significant industry knowledge.
Benchmark Electronics, Inc. (BHE) declared a cash dividend of $0.165 per share for the fourth quarter of 2022. This dividend is payable on January 13, 2023, to shareholders recorded by December 30, 2022. The company's operations span various industries, including aerospace, defense, and medical, emphasizing its global manufacturing capabilities. The announcement reflects the company's commitment to returning value to shareholders while supporting its diverse operational growth.
Benchmark Electronics hosted its Investor and Analyst Day on November 8, 2022, at the New York Stock Exchange, marking 25 years of listing. CEO Jeff Benck and CFO Roop K. Lakkaraju presented the company's fiscal 2023 guidance, forecasting revenue of $2.85-$2.95 billion, non-GAAP operating margin of 4.1%-4.5%, and non-GAAP diluted EPS of $2.35-$2.45. Additionally, the company expects free cash flow of $70-$90 million. The detailed plans were shared through a live webcast available on their Investor Relations website.
Benchmark Electronics reported third-quarter 2022 revenue of $772 million, marking a 35% year-over-year increase. Notable sector growth included Computing and Telecommunications with 60% growth, and Industrials growing 44%. GAAP operating income surged 114%, with GAAP diluted EPS reaching $0.53, up 130%. Looking ahead, fourth-quarter revenue is projected between $760 - $800 million with EPS estimates between $0.52 - $0.56. Benchmark emphasizes strong execution despite industry challenges and plans to discuss long-term strategy on November 8.
Benchmark Electronics, based in Tempe, Arizona, will announce its third quarter 2022 results on October 26, 2022, after market close. A conference call to discuss the results will be held at 5:00 p.m. Eastern Time on the same day, with a live webcast available on the company's website. Benchmark provides comprehensive solutions across various industries including commercial aerospace, defense, and medical, with shares traded on the NYSE under the symbol BHE.
Benchmark Electronics has partnered with Yield Engineering Systems (YES) to enhance semiconductor manufacturing capabilities. The collaboration involves transferring the YES flagship product line to Benchmark's facility in Malaysia and providing engineering support in Arizona. YES specializes in technologies that improve semiconductor production efficiency. The partnership is timely due to the rising demand for semiconductor manufacturing support spurred by the CHIPS Act. Benchmark's expertise in mechatronic engineering and precision machining will play a critical role in this initiative.
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