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Mar 31
Benchmark Q1 2025 Earnings Report
Benchmark Electronics, Inc. reported its financial results for the first quarter ended March 31, 2025.
Key Takeaways
Benchmark Electronics reported first quarter 2025 revenue of $632 million, GAAP operating income of $12 million, and GAAP earnings per share of $0.10. The company maintained non-GAAP gross margins above 10% for the sixth consecutive quarter and generated over $27 million in free cash flow.
Revenue for the first quarter of 2025 was $632 million.
GAAP Operating Income for the quarter was $11.759 million.
GAAP earnings per share stood at $0.10.
Non-GAAP earnings per share was $0.52, reflecting adjustments for certain expenses.
Benchmark
Benchmark
Benchmark Revenue by Segment
Revenue by Segment
Semi-Cap Revenue
CapyFin.comIndustrial Revenue
CapyFin.comA&D Revenue
CapyFin.comMedical Revenue
CapyFin.comAC&C Revenue
CapyFin.com Forward Guidance
Benchmark Electronics provided guidance for the second quarter of 2025, expecting revenue between $615 million and $665 million, diluted GAAP earnings per share between $0.31 and $0.37, and diluted non-GAAP earnings per share between $0.52 and $0.58.
Positive Outlook
- Continued execution to long-term objectives despite dynamic market conditions.
- Sixth consecutive quarter of greater than 10% non-GAAP gross margins.
- Generated over $27 million of free cash flow.
- Well-positioned with 10 manufacturing facilities in the United States.
- Plenty of manufacturing capacity globally to support evolving customer needs.
Challenges Ahead
- Sequential decline of revenue in the first quarter.
- Navigating through tariff-related uncertainty.
- Tariff-related uncertainty could impact some customer sourcing decisions in the near term.
- Non-GAAP earnings per share guidance excludes stock-based compensation expense of approximately $5.3 million.
- Non-GAAP earnings per share guidance excludes other non-operating expenses of $4.7 million to $4.9 million, including restructuring and amortization of intangibles.
Revenue & Expenses
Visualization of income flow from segment revenue to net income