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Mar 31, 2023
Benchmark Q1 2023 Earnings Report
Benchmark's financial performance for Q1 2023 was reported, demonstrating growth across various sectors.
Key Takeaways
Benchmark Electronics reported a 9% year-over-year increase in revenue, driven by strong growth in Advanced Computing, Medical, and Next Generation Communications sectors. The company's GAAP operating income and EPS also saw significant increases compared to the previous year.
Revenue increased by 9% year-over-year, reaching $695 million.
Advanced Computing sector experienced substantial growth of 74%.
GAAP operating income rose by 48% year-over-year to $23 million.
GAAP diluted EPS increased by 13% year-over-year, reaching $0.35.
Revenue by Segment
Forward Guidance
The company expects revenue between $670 million and $710 million and diluted GAAP earnings per share between $0.35 and $0.41 for the second quarter of 2023.
Positive Outlook
- Revenue between $670 - $710 million
- Diluted GAAP earnings per share between $0.35 - $0.41
- Diluted non-GAAP earnings per share between $0.43 - $0.49
- Guidance takes into consideration all known constraints for the quarter
- Guidance assumes no further significant interruptions to our supply base, operations or customers
Challenges Ahead
- Restructuring charges are expected to range between $1.8 million and $2.2 million in the second quarter
- Amortization of intangibles is expected to be $1.6 million in the second quarter.
- Customer demand fluctuations
- Supply chain constraints
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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