Benchmark Reports Q3 2022 Results

Reading time ( words)

Benchmark Electronics, Inc. announced financial results for the third quarter ended September 30, 2022.

"Despite the well-known challenges with which we and the industry have had to navigate, Benchmark continues to execute on its strategy. Our third quarter results achieved the important financial targets within our mid-term model," said Jeff Benck, Benchmark's President and CEO.

Benck continued "Our third quarter results demonstrated another solid quarter of revenue growth, with five of our six targeted sectors growing more than 35% year-over-year.  This has enabled us to drive non-GAAP earnings growth of more than 46% over the same period.  We look forward to updating you on our long term strategy and growth potential for the company at our upcoming analyst day on November 8th."

Overall, higher-value market revenues were up 29% year-over-year from strength in the Industrials, Medical and Semi-Cap sectors. Traditional market revenues were up 60% year-over-year from strength in both Computing and Telecommunications sectors.

Fourth Quarter 2022 Guidance

  • Revenue between $760 - $800 million
  • Diluted GAAP earnings per share between $0.52 - $0.56
  • Diluted non-GAAP earnings per share between $0.58 - $0.62 (excluding restructuring charges and other costs and amortization of intangibles)
  • This guidance takes into consideration all known constraints for the quarter and assumes no further significant interruptions to our supply base, operations or customers.

Restructuring charges are expected to range between $0.8 million and $1.0 million in the fourth quarter and the amortization of intangibles is expected to be $1.6 million in the fourth quarter.


Suggested Items

Real Time with... SMTAI 2022: Essemtec Claiming Its Place in the Automated Factory

11/09/2022 | Real Time with...SMTAI
Bryce Timms, managing director, gives Nolan Johnson a tutorial on Essemtec’s position in the market, how Essemtec (as a division of Nano Dimension) fits not only into the additive manufacturing space but also in the more traditional EMS market.

It’s an Exciting Time in Electronics

10/06/2022 | Sal Sparacino, SMTA
SMTA International is just around the corner, and we are excited to be meeting fully in person and onsite. The conference and expo runs from Monday, Oct. 31 through Thursday, Nov. 3, returning to the Minneapolis Convention Center. Once again, we will co-locate with Medical Design & Manufacturing Minneapolis 2022 (MD&M). As the world continues to adjust to the new normal following nearly years of the pandemic, an in-person industry conference and exhibition is more valuable than ever.

M&A Activity: Keep Your Eye on the Ball

03/29/2022 | Dan Beaulieu, D.B. Management Group
M&A activity is on the rise and shows no indication of slowing down, even if interest rates climb. In the past two years, there were more than 45 deals. Where does your company fit in? In this interview with Dan Beaulieu, M&A expert Tom Kastner breaks down the market and who benefits most when it comes to buyers, sellers, and where you live.

Copyright © 2022 I-Connect007 | IPC Publishing Group Inc. All rights reserved.