The Knowledge Base: The Era of Advanced Packaging
Standard of Excellence: Finding and Developing Future Leaders in Manufacturing
Global Sourcing Spotlight: Navigating the Variables of Holiday Schedules in Global Sourcing
Benchmark Reports Q3 2023 Results
October 30, 2023 | BenchmarkEstimated reading time: 1 minute
Benchmark Electronics, Inc. announced financial results for the third quarter ended September 30, 2023.
"Benchmark's strategy is to serve high-complexity growth opportunities within our targeted sectors. This focus, coupled with the team's commitment to operational improvement, enabled us to deliver another set of strong results in the third quarter," said Jeff Benck, Benchmark's President and CEO.
Benck continued "I am proud of the team's continued execution despite the dynamic market environment. Looking forward, we remain focused on delivering continued operating leverage and believe we are well positioned to capitalize on the opportunities in front of us."
Revenue decreased quarter over quarter and year over year primarily due to a decrease in Advanced Computing of 19% and 30%, respectively, due to completion of a high performance compute program, partially offset by an increase in A&D of 24% and 16%, respectively.
Fourth Quarter 2023 Guidance
- Revenue between $675 - $725 million
- Diluted GAAP earnings per share between $0.49 - $0.55
- Diluted non-GAAP earnings per share between $0.54 - $0.60 (excluding restructuring charges and other costs and amortization of intangibles)
Restructuring charges are expected to range between $0.8 million and $1.2 million in the fourth quarter and the amortization of intangibles is expected to be $1.2 million in the fourth quarter.
Share on:
Suggested Items
Nordson Corporation Reports Fourth Quarter and Fiscal Year 2024 Results
12/12/2024 | Nordson CorporationNordson Corporation today reported results for the fiscal fourth quarter ended October 31, 2024. Sales were $744 million, a 4% increase compared to the prior year’s fourth quarter sales of $719 million. The increase in fourth quarter 2024 sales included the favorable 6% impact of acquisitions and favorable currency translation of 1%, offset by an organic sales decrease of 3%.
China Captures 61% of Global EV Traction Inverter Installation Volume in 3Q24, Europe Pushes Reforms to Rebound
12/10/2024 | TrendForceTrendForce’s latest findings show that global shipments of EV traction inverters reached 6.87 million units in the third quarter of 2024, representing a 7% QoQ increase, though the growth rate has slowed compared to the same period last year.
PC Graphics Add-in Board Shipments Down in 3Q24
12/10/2024 | Jon Peddie ResearchAccording to a new research report from the analyst firm Jon Peddie Research, the growth of the global PC-based graphics add-in board market reached 8.1 million units in Q3'24 and desktop PC CPU shipments increased to 20.1 million units.
Sales Season and Flagship Launches Drive 3Q24 Smartphone Production Up 7%
12/09/2024 | TrendForceTrendForce’s latest research finds that 3Q24 coincided with the peak season for smartphone sales. The launch of flagship models by major brands propelled global smartphone production to a QoQ increase of 7%, reaching approximately 310 million units and matching figures from the same period last year.
Advanced Processes and Chinese Policies Drive 3Q24 Global Top 10 Foundry Revenue to Record Highs
12/06/2024 | TrendForceAccording to TrendForce’s latest report, while the overall economic situation did not significantly improve in the third quarter of 2024, factors such as supply chain stocking driven by new smartphone and PC/notebook launches in the second half of the year, coupled with continued strong demand for AI server-related HPC, led to an improvement in overall wafer foundry capacity utilization compared to the second quarter.