Benchmark Electronics, Inc. (BHE) Earnings
Benchmark Electronics, Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $0.69. BHE has beaten EPS estimates in 9 of its last 12 reported quarters (average surprise +1.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.56 | $0.58 | +4.5% | $677M | +0.1% |
| Feb 3, 2026 | $0.64 | $0.71 | +10.9% | $704M | +1.1% |
| Nov 4, 2025 | $0.65 | $0.62 | -4.6% | $681M | -2.2% |
| Jul 30, 2025 | $0.58 | $0.55 | -5.7% | $642M | -3.7% |
| Apr 29, 2025 | $0.50 | $0.52 | +4.0% | $632M | -5.5% |
| Jan 29, 2025 | $0.56 | $0.61 | +8.9% | $657M | -0.6% |
| Oct 30, 2024 | $0.54 | $0.57 | +5.6% | $658M | +1.2% |
| May 1, 2024 | $0.46 | $0.55 | +19.6% | $676M | +4.7% |
| Jan 31, 2024 | $0.56 | $0.58 | +3.6% | $691M | -2.3% |
| Oct 25, 2023 | $0.52 | $0.57 | +9.6% | $720M | +2.6% |
| May 3, 2023 | $0.42 | $0.42 | +0.0% | $695M | +5.1% |
| Feb 1, 2023 | $0.59 | $0.60 | +1.7% | $751M | -3.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- David started with an overview, noting first quarter revenue of $677 million and EPS of 58 cents, both towards the higher end of expectations. He mentioned solid execution across the business and progress in strategic priorities, with full year revenue growth expected in the 9 to 10% range up from prior mid single digit growth. - Brian walked through financial details: revenue of $677 million, up 7% year-over-year and above prior guidance midpoint; non-GAAP EPS 58 cents at higher end of guidance range; non-GAAP gross margin 10.3%, non-GAAP operating margin 4.8%; discussed revenue performance by sector and trended non-GAAP financials. - David then shared sector trends: SEMICAP showing recovery with sequential growth, industrial having modest growth, A&D moderating but bookings strong in defense and space, medical continuing strong performance, ACNC with exceptional year-over-year results driven by AI-related wins.
Guidance
- Full year revenue growth expected in the 9 to 10% range. - Second quarter of 2026 expected revenue within $700 to $740 million, representing 12% year-over-year growth at midpoint. - Non-GAAP gross margin expected between 10.4 and 10.6%, non-GAAP operating margin between 5.1 and 5.3%, non-GAAP diluted earnings per share in the range of 65 to 71 cents. - Effective tax rate expected in the range of 26% to 27% for second quarter and full year.
Segment performance
In the first quarter, revenue was $677 million. Semi-GAAP revenue was slightly down year-over-year but increased 12% sequentially. Industrial revenue was down 3% year-over-year, A&D was down 2% year-over-year. Medical revenue grew 24% year-over-year, and ACNC grew 41% year-over-year.
Risks & headwinds
- Starting to see select lead times increasing in pockets, and facing the same challenges as pretty much everybody in the memory space, with efforts to manage the supply chain properly.
Analyst Q&A
Q: Max Markelius asked about capacity excess with Penang 4 opening in Q3, broad - based strength in Semi, and other use cases in ACNC.
A: We don't discuss capacity excess details, but additional capacity is setting us up for 2026 and beyond; Semi strength is broad - based with signals materializing into orders; key drivers in ACNC are enterprise AI clusters and on - prem cloud infrastructure, with HVC expected to pick up in 2027.
Q: Steven Fox asked about operating leverage for Q2, new programs in SEMICAP.
A: Expect bottom line growth with operating margin leveraging through the year; new programs are increasing share of wallet with existing customers and winning new share with new customers, with services including precision technology solutions, etc.
Q: Angella Sauer - Glertstrom asked about semi - cap sequential growth, ACNC momentum, and Penang margin.
A: Expect semi - cap sequential growth with mid - teens overall growth; ACNC momentum to continue improving with reporting next quarter; Penang is higher margin, focused on precision technology semi - cap.
Q: Angela Söderström asked about supply chain difficulties.
A: Starting to see select lead times increasing in pockets, same as memory space challenges, with efforts to manage supply chain.
Q: Stephen Fox asked about Iran conflict impact on defense program run rates.
A: Even with immediate resolution, defense will remain strong for 12 - 18 to 24 months for replenishment, and continue to see momentum in defense and space with winning programs.