Q2 2026 Benchmark Electronics Inc Earnings Call Transcript
Key Points
- Revenue of $756 million was up 18% year over year, exceeding the high end of guidance.
- Non-GAAP EPS of $0.75 grew 36% year over year, more than double the revenue growth rate.
- Semi-Cap revenue grew 17% year over year with momentum strengthening, and second-half growth is expected to accelerate.
- AC&C revenue surged 71% year over year, driven by AI-related program wins.
- Cash conversion cycle improved to 59 days, down 26 days year over year, reflecting strong working capital management.
- Aerospace and Defense (A&D) revenue declined 12% year over year due to program transitions.
- Supply chain tightness persists, with lead times extending to 7-12 months for complex components.
- Increased variable compensation expense partially offset operating margin improvements.
- Medical sector growth, while solid, relies on a competitive takeaway and may face sustainability risks.
- Capital expenditures for expansions in Penang and Thailand are expected to remain elevated at 2% to 2.5% of revenue.
Hello everyone. Thank you for joining us and welcome to the Benchmark Electronics Q2 2026 earnings call. (Operator Instructions)
I will now hand the conference over to Paul Mansky, Benchmark Investor Relations. Please go ahead.
Thank you, Piercy, and thanks, everyone, for joining us today for Benchmark's second-quarter 2026 earnings call. With us today are David Moezidis, our President and CEO; and Bryan Schumaker, our CFO.
After the market closed, we issued an earnings release pertaining to our financial performance for the second quarter of 2026, along with a presentation, which we'll reference on this call. Both are available under the Investor Relations section of our website. This call is being webcast live, a replay of which will be available approximately one hour after we conclude.
The company has provided a reconciliation of our GAAP to non-GAAP measures in the earnings release as well as in the appendix to the
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