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Jun 30, 2023
Benchmark Q2 2023 Earnings Report
Benchmark reported strong Q2 2023 results, exceeding guidance on revenue and non-GAAP operating income.
Key Takeaways
Benchmark Electronics reported revenue of $733 million and GAAP operating income of $24 million, up 9% year-over-year. Non-GAAP operating income was $29 million, up 28% year-over-year, with GAAP earnings per share of $0.39 and non-GAAP earnings per share of $0.48.
Revenue reached $733 million.
GAAP operating income increased by 9% year-over-year to $24 million.
Non-GAAP operating income grew by 28% year-over-year to $29 million.
GAAP earnings per share were reported at $0.39, and non-GAAP earnings per share at $0.48.
Benchmark
Benchmark
Benchmark Revenue by Segment
Revenue by Segment
Semi-Cap Revenue
CapyFin.comIndustrial Revenue
CapyFin.comMedical Revenue
CapyFin.com Forward Guidance
The company expects revenue between $680 and $720 million and diluted GAAP earnings per share between $0.45 and $0.51 for Q3 2023.
Positive Outlook
- Revenue between $680 - $720 million
- Diluted GAAP earnings per share between $0.45 - $0.51
- Diluted non-GAAP earnings per share between $0.51 - $0.59
- Guidance considers 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 $1.1 million and $1.5 million in the third quarter
- The amortization of intangibles is expected to be $1.6 million in the third quarter
Revenue & Expenses
Visualization of income flow from segment revenue to net income