Benchmark Electronics Stock Earnings Reports

Benchmark reported Q1 FY2026 revenue of $677M (up 7% YoY) and non-GAAP EPS of $0.58, both toward the high end of prior expectations. Management raised full-year revenue guidance to 9%–10% growth and expects EPS to outpace revenue due to operational discipline and mix. Sector highlights: Semi-Cap showed sequential recovery (double-digit sequential increase through the quarter) with management calling the strength broad-based; Medical grew 24% YoY; AC&C (including AI-related and liquid-cooling wins) grew 41% YoY and is beginning to ramp. Bookings remained solid, and Benchmark delivered improved margins year-over-year (non-GAAP gross margin 10.3%, operating margin 4.8%) while generating $47M operating cash flow and $29M free cash flow; net cash position was $120M. Penang 4 (PT building) is on track to begin operations in Q3 to support Semi-Cap demand; full-year capex is expected toward the higher end of 2.0%–2.5% of revenue. The company returned capital via $6M dividends and $6M buybacks (about $117M remaining authorization). Q2 guidance: revenue $700M–$740M, non-GAAP EPS $0.65–$0.71, non-GAAP gross margin ~10.4%–10.6%, operating margin ~5.1%–5.3%, and an expected effective tax rate of 26%–27%. Risks noted include selective supply-chain lead-time pressures and macro/geopolitical uncertainty, though bookings and defense/space activity remain supportive.