Benchmark Reports Revenue of $632 Million in 1Q 2025 Results

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Benchmark Electronics, Inc. announced financial results for the first quarter ended March 31, 2025.

First quarter 2025 results:

• Revenue of $632 million
• GAAP Operating Income of $12 million
• Non-GAAP Operating Income of $29 million
• GAAP earnings per share $0.10
• Non-GAAP earnings per share $0.52

“I am pleased by Benchmark’s ability to continue to execute to our long-term objectives despite this dynamic market, as evidenced by our sixth consecutive quarter of greater than 10% non-GAAP gross margins while we again generated over $27 million of free cash flow even with a sequential decline of revenue in the first quarter,” said Jeff Benck, Benchmark’s President and CEO.

Benck continued, “Looking forward, we are navigating through tariff-related uncertainty that could impact some customer sourcing decisions in the near term. However, I am very confident with 10 manufacturing facilities in the United States and plenty of manufacturing capacity globally that we are well positioned to support our current and future customers’ evolving manufacturing needs regardless of where they would like us to produce their products.”

Second Quarter 2025 Guidance

• Revenue between $615 million - $665 million
• Diluted GAAP earnings per share between $0.31 - $0.37
• Diluted non-GAAP earnings per share between $0.52 - $0.58
• Non-GAAP earnings per share guidance excludes stock-based compensation expense of approximately $5.3 million and other non-operating expenses of $4.7 million to $4.9 million which includes restructuring, amortization of intangibles and other expenses.