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Benchmark Reports Second Quarter 2025 Results

TEMPE, Ariz.--(BUSINESS WIRE)-- Benchmark Electronics, Inc. (NYSE: BHE) today announced financial results for the second quarter ended June 30, 2025.

Second quarter 2025 results:

• Revenue of $642 million
• GAAP Operating Income of $20 million
• Non-GAAP Operating Income of $30 million
• GAAP earnings per share of $0.03
• Non-GAAP earnings per share of $0.55

鈥淏enchmark鈥檚 second quarter results continue to validate our strategy. We are the partner of choice for complex product execution, from concept through design to global delivery and support. Our second quarter progress was measured by sequential growth across most of our sectors with continued strength in A&D and solid recovery in the Industrial and Medical sectors. Even more encouraging was that we achieved a multi-year record in new bookings during the quarter,鈥� said Jeff Benck, Benchmark鈥檚 President and CEO.

Benck continued 鈥淢y conviction in our strategy and execution has never been higher. We see this play out in our margin improvement, bookings momentum with existing customers, and increased commitment to our value proposition by new customers. I am confident our accelerating momentum will drive growth and operational leverage in the coming quarters.鈥�

Second Quarter 2025 Industry Sector Update

Cash Conversion Cycle

Third Quarter 2025 Guidance

• Revenue between $635 million - $685 million
• Diluted GAAP earnings per share between $0.28 - $0.34
• Diluted non-GAAP earnings per share between $0.56 - $0.62
• Non-GAAP earnings per share guidance excludes stock-based compensation expense of approximately $5.3 million and other non-operating expenses of $6.1 million to $6.3 million which includes restructuring, amortization of intangibles and other expenses.

Second Quarter 2025 Earnings Conference Call

The Company will host a conference call to discuss the results today at 5:00 p.m. Eastern Time. The live webcast of the call and accompanying reference materials will be accessible by logging on to the Company鈥檚 website at . A replay of the broadcast will also be available on the Company鈥檚 website.

About Benchmark Electronics, Inc.

Benchmark provides comprehensive solutions across the entire product life cycle by leading through its innovative technology and engineering design services, leveraging its optimized global supply chain and delivering world-class manufacturing services in the following industries: semiconductor capital equipment (Semi-Cap), industrial, medical, aerospace and defense (A&D), and advanced computing and communications (AC&C). Benchmark鈥檚 global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts and may include words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥渇orecast,鈥� 鈥渟trategy,鈥� 鈥減osition,鈥� 鈥渃ontinue,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渃ould,鈥� 鈥減redict,鈥� and similar expressions of the negative or other variations thereof. In particular, statements, expressed or implied, concerning the Company鈥檚 outlook and guidance for third quarter and fiscal year 2025 results, future operating results or margins, the ability to generate sales and income or cash flow, expected revenue mix, the Company鈥檚 business strategy and strategic initiatives, the Company鈥檚 repurchases of shares of its common stock, the Company鈥檚 expectations regarding restructuring charges, stock-based compensation expense, amortization of intangibles, award of any tax incentives and capital expenditures, and the Company鈥檚 intentions concerning the payment of dividends, among others, are forward-looking statements. Although the Company believes these statements are based on and derived from reasonable assumptions, they involve risks, uncertainties and assumptions that are beyond the Company鈥檚 ability to control or predict, relating to operations, markets and the business environment generally, including those discussed under Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and in any of the Company鈥檚 subsequent reports filed with the Securities and Exchange Commission. Events relating to the possibility of customer demand fluctuations, supply chain constraints, continuing inflationary pressures, the effects of foreign currency fluctuations and high interest rates, geopolitical uncertainties including continuing hostilities and tensions, trade restrictions and sanctions, tariffs and retaliatory countermeasures, the ability to utilize the Company鈥檚 manufacturing facilities at sufficient levels to cover its fixed operating costs, or write-downs or write-offs of obsolete or unsold inventory, may have resulting impacts on the Company鈥檚 business, financial condition, results of operations, and the Company鈥檚 ability (or inability) to execute on its plans. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes, including the future results of the Company鈥檚 operations, may vary materially from those indicated. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are not guarantees of performance. All forward-looking statements included in this document are based upon information available to the Company as of the date of this document, and the Company assumes no obligation to update.

Non-GAAP Financial Measures

Management discloses certain non鈥怗AAP information to provide investors with additional information to analyze the Company鈥檚 performance and underlying trends. These non-GAAP financial measures exclude restructuring charges, stock-based compensation expense, amortization of intangible assets acquired in business combinations, certain legal and other settlement losses (gains), customer insolvency losses (recoveries), asset impairments, other significant non-recurring costs and the related tax impacts, including discrete tax items and other non-GAAP tax adjustments, of all of the above. A detailed reconciliation between GAAP results and results excluding certain items (鈥渘on-GAAP鈥�) is included in the following tables attached to this document. In situations where a non-GAAP reconciliation has not been provided, the Company was unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. Management uses non鈥怗AAP measures that exclude certain items in order to better assess operating performance and help investors compare results with our previous guidance. This document also references 鈥渇ree cash flow鈥�, a non-GAAP measure, which the Company defines as cash flow from operations less additions to property, plant and equipment and purchased software. The Company鈥檚 non鈥怗AAP information is not necessarily comparable to the non鈥怗AAP information used by other companies. Non鈥怗AAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as a measure of the Company鈥檚 profitability or liquidity. Readers should consider the types of events and transactions for which adjustments have been made.

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For More Information, Please Contact:

Paul Mansky, Investor Relations and Corporate Development

1-623-300-7052 or [email protected]

Source: BENCHMARK ELECTRONICS