Benchmark Electronics (BHE) Tops Q1 EPS by 5c; Guides Below Street

Benchmark Electronics (NYSE: BHE) reported Q1 EPS of $0.41, $0.05 better than the analyst estimate of $0.36. Revenue for the quarter came in at $608 million versus the consensus estimate of $593.7 million.

GUIDANCE:

Benchmark Electronics sees Q2 2018 EPS of $0.26-$0.34, versus the consensus of $0.43. Benchmark Electronics sees Q2 2018 revenue of $590-630 million, versus the consensus of $634.78 million.

"We continue to see good progress in bookings and are encouraged by the quality of our new customer engagements. For the second quarter, the convergence of timing dynamics related to mix shifts primarily in medical, new customer ramp headwinds, and planned investments in engineering and solutions will impact our reported financials. Consequently, our guidance reflects these factors with sequential revenue in the range of $590 million to $630 million and non-GAAP EPS between $0.26 and $0.34," continued Tufano. "We are confident in our ability to address these challenges and remain positive about the second half and our long-term model."

For earnings history and earnings-related data on Benchmark Electronics (BHE) click here.

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