Benchmark Electronics ( (BHE) ) has released its Q4 earnings. Here is a breakdown of the information Benchmark Electronics presented to its investors.
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Benchmark Electronics, Inc. is a global provider of comprehensive electronic manufacturing services, offering solutions across industries such as semiconductor capital equipment, medical, aerospace and defense, and advanced computing and communications. The company’s global operations include facilities in seven countries, and its shares are traded on the New York Stock Exchange under the symbol BHE.
In its latest financial release, Benchmark Electronics reported its results for the fourth quarter and full fiscal year of 2024. The company achieved a revenue of $657 million in the fourth quarter, with growth in sectors such as Semi-Cap, Aerospace & Defense, and Industrials, which was offset by a decline in Medical and Advanced Computing & Communications sectors. For the full year, the company generated revenue totalling $2.7 billion, driven by strong performance in Semi-Cap and Aerospace & Defense sectors.
Highlighting the financial metrics, Benchmark reported a consistent gross margin of over 10% for the quarter and year, with operating margins of 4.3% and 4.1% respectively on a GAAP basis. In non-GAAP terms, these margins were slightly higher at 5.1% for both the quarter and the year. Earnings per share stood at $0.50 for the quarter and $1.72 for the year, with non-GAAP figures at $0.61 and $2.29 respectively. The company also marked its seventh consecutive quarter of positive free cash flow, accumulating $156 million for the year.
Looking ahead, Benchmark Electronics plans to maintain its financial discipline and strategically invest in future growth, as evidenced by its expansion in Penang, Malaysia to support the Semiconductor Capital Equipment sector. The company has provided guidance for the first quarter of 2025, with expected revenue between $620 million and $660 million and diluted non-GAAP earnings per share projected between $0.48 and $0.54.
With a focus on driving margin expansion and free cash flow generation, Benchmark Electronics is optimistic about continuing to create value for its stakeholders amidst a dynamic market environment.
