Benchmark Electronics (BHE) Misses Q2 EPS by 2c

Benchmark Electronics (NYSE: BHE) reported Q2 EPS of $0.07, $0.02 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $491 million versus the consensus estimate of $474.33 million.

"Thanks to the commitment and tireless work of our global Benchmark team, we continue to successfully navigate this challenging pandemic environment. Protecting our people remains our highest priority and we will continue our vigilance to keep people safe and our locations operational," said Jeff Benck, Benchmark President and CEO.

"Despite the current macro conditions, our team has focused on delivering products to meet the needs of our customers. Our diversified portfolio remains a strength at this time as we saw strong second quarter growth in our Medical and Semi-cap sectors. Moving into the third quarter, we expect sequential improvements in revenue, profit and utilization underpinned by stronger demand from our Semi-Cap and Defense customers where we have industry leading positions."

GUIDANCE:

Benchmark Electronics sees Q3 2020 EPS of $0.26-$0.30, versus the consensus of $0.27. Benchmark Electronics sees Q3 2020 revenue of $490-530 million, versus the consensus of $509 million.

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

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Alphabet slides over 6% as AI brain drain and SpaceX slump converge
• Credo Technology pops 3.5% as Evercore initiates with monster $325 price target