Q1 2025 Benchmark Electronics Inc Earnings Call Transcript
Key Points
- Benchmark Electronics Inc (BHE) reported first-quarter revenue of $632 million, led by double-digit growth in the Semi-Cap and A&D sectors.
- The company achieved its sixth consecutive quarter of greater than 10% non-GAAP gross margin and eighth quarter of positive free cash flow.
- Non-GAAP earnings per share of $0.52 was above the midpoint of the guidance range, demonstrating strong profitability management.
- Benchmark Electronics Inc (BHE) generated $27 million in free cash flow in the quarter, totaling over $140 million on a trailing 12-month basis.
- The company is well-positioned to help customers optimize their supply chain with a significant US manufacturing footprint, representing over 55% of its total global manufacturing capacity.
- First-quarter revenue of $632 million was down 4% sequentially and 6% year over year.
- Non-GAAP operating margin decreased sequentially and year over year due to a lower revenue base.
- The medical sector experienced a 12% revenue decline versus the prior quarter, with continued demand softness.
- AC&C revenue decreased 12% quarter over quarter, driven by timing-related weaknesses in both HPC and communications businesses.
- The company faces challenges from global tariff uncertainties, impacting customer decisions and potentially elongating the cycle for new bookings.
Good afternoon, ladies and gentlemen, and welcome to the Benchmark first-quarter 2025 earnings call and webcast. (Operator Instructions) This call is being recorded on Tuesday, April 29, 2025.
I would now like to turn the conference over to Paul Mansky, Investor Relations at Benchmark. Sir, please go ahead.
Thank you, Constantine, and thanks everyone for joining us today for Benchmark's first-quarter 2025 earnings call. Joining us joining us today are Jeff Benck, our CEO and President; and Bryan Schumaker, our CFO.
After the market closed, we issued an earnings release pertaining to our financial performance for the first quarter ending March 2025, and we have prepared a presentation which we'll reference on this call. Both the press release and presentation are available under the Investor Relations section on our website at bench.com. This call is being webcast live, and a replay will be available online following the conclusion of today's call.
The company has provided a
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
