Benchmark Electronics Reports Stable Q3 2024 Earnings
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Benchmark Electronics Reports Stable Q3 2024 Earnings

Benchmark Electronics ( (BHE) ) has realeased its Q3 earnings. Here is a breakdown of the information Benchmark Electronics presented to its investors.

Benchmark Electronics, Inc. is a company that offers comprehensive solutions across the product lifecycle, specializing in technology and engineering design services, supply chain optimization, and world-class manufacturing within industries such as semiconductor capital equipment, complex industrials, medical, aerospace, defense, and advanced computing and communications.

Benchmark Electronics reported its third-quarter 2024 earnings, highlighting revenues of $658 million and a net cash flow of $39 million. The company achieved a GAAP gross margin of 10.1% and a non-GAAP operating margin of 5.3%, with earnings per share reaching $0.57 on a non-GAAP basis.

In the third quarter, the company saw a decrease in sales compared to both the previous quarter and the same period last year, primarily due to reduced sales in the Medical and AC&C sectors. However, there was an uptick in the Semiconductor Capital Equipment sector and Aerospace and Defense sales. The company’s cash conversion cycle improved to 90 days, with better management of inventory and receivables.

Benchmark Electronics continues to focus on expanding its operational efficiencies and cash flow generation. The company is optimistic about its growth trajectory as it welcomes a new CFO and continues to refine its strategic initiatives.

Looking ahead, Benchmark anticipates fourth-quarter revenues in the range of $640 million to $680 million, with non-GAAP earnings per share expected between $0.53 and $0.59, indicating a cautious yet optimistic outlook for the remainder of the fiscal year.

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